Bill Text: NY S02361 | 2023-2024 | General Assembly | Introduced

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Bill Title: Establishes a state university of New York career pilot program to encourage individuals in college to enter the financial planning industry; utilizes campus resources to encourage a well-rounded program and diverse student involvement.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2024-01-03 - REFERRED TO HIGHER EDUCATION [S02361 Detail]

Download: New_York-2023-S02361-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2361

                               2023-2024 Regular Sessions

                    IN SENATE

                                    January 20, 2023
                                       ___________

        Introduced  by  Sen. MANNION -- read twice and ordered printed, and when
          printed to be committed to the Committee on Higher Education

        AN ACT to amend the education law, in relation to establishing  a  state
          university  of  New  York  pilot  program  to encourage individuals in
          college to enter the financial planning industry;  and  providing  for
          the repeal of such provisions upon expiration thereof

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The education law is amended by adding a new section  355-f
     2  to read as follows:
     3    §  355-f. State university of New York financial career pilot program.
     4  1.  There shall be established by the board of  trustees  of  the  state
     5  university,  a  state  university  of  New  York  financial career pilot
     6  program designed to educate college students on the career opportunities
     7  in the financial planning industry.
     8    2. The board of trustees shall, through its own means or by partnering
     9  with a company that implements financial  career  planning  initiatives,
    10  create  a  pilot  program that works with the following state university
    11  campus resources to create a well-rounded program  and  diverse  student
    12  involvement:
    13    (a) campus multi-cultural center;
    14    (b) campus career counseling center; and
    15    (c)  any other campus resource deemed necessary for the program estab-
    16  lished pursuant to this section.
    17    3. (a) In conjunction with  the  state  university,  the  board  shall
    18  create a pilot program that includes:
    19    (i) a paid internship at an approved financial institution;
    20    (ii) career counseling;
    21    (iii) preparation for the security industry essentials exam; and
    22    (iv) a grade point average requirement of 2.8 on a 4.0 scale;

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04742-01-3
        S. 2361                             2

     1    (b)  The  board  shall determine a financial institution's eligibility
     2  criteria to receive a student employee which shall include, but  not  be
     3  limited to, the following:
     4    (i) an application to be completed by the financial institution;
     5    (ii)  a  mandated,  virtual orientation to be attended by the approved
     6  financial institutions' representatives;
     7    (iii) an agreement to pay the student employees at a set  wage  to  be
     8  determined by the board of trustees;
     9    (iv) an approved student to mentor ratio; and
    10    (v)  reporting requirements on student and program success, including,
    11  but not limited to, a mid-semester  and  final  review  of  the  student
    12  employee  which  may  include, but is not limited to, the following on a
    13  scale of exceptional, good, fair, and unsatisfactory:
    14    (1) quality of work;
    15    (2) ability to meet deadlines;
    16    (3) written communication skills;
    17    (4) oral communication skills; and
    18    (5) the ability to assess and initiate things independently.
    19    4. The board of trustees shall be responsible for monitoring the qual-
    20  ity, appropriateness and effectiveness of such program and shall  report
    21  to  the  legislature  within  one  year  of  the  effective date of this
    22  section, and on the  first  of  January  annually  thereafter,  on  such
    23  program's effectiveness.
    24    §  2.  This  act shall take effect immediately and shall expire and be
    25  deemed repealed three years after such date.