Bill > A02007

This bill amends the New York State executive law by requiring the Department of State, in collaboration with the departments of Economic Development and Education, to provide technical assistance to municipalities that have experienced the closure of a college or university. Upon request, the state will offer support in four key areas: (1) workforce transition and development to help displaced workers, (2) strategies for attracting new employers and economic opportunities to the area, (3) planning for the potential reuse or redevelopment of the land and buildings previously occupied by the closed institution, and (4) guidance on managing financial obligations and interactions with creditors related to the closed institution's assets. Importantly, the bill specifies that while the state will provide advisory support, it will not become directly involved in any legal proceedings arising from the institution's closure. This legislation aims to help local communities navigate the economic and structural challenges that can arise when a significant educational institution shuts down, providing a structured approach to mitigating potential negative impacts.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A2007