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Bill > S07486
NY S07486
NY S07486Qualifies the permitted use of proceeds from the lease of lands located at the state university of New York at Purchase shall go to New York state resident students who are eligible to receive a federal Pell grant.
summary
Introduced
04/17/2025
04/17/2025
In Committee
06/05/2025
06/05/2025
Crossed Over
06/11/2025
06/11/2025
Passed
11/21/2025
11/21/2025
Dead
Signed/Enacted/Adopted
11/21/2025
11/21/2025
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend chapter 405 of the laws of 2011, relating to authorizing the lease of lands located at the state university of New York at Purchase, in relation to the permitted use of proceeds from the lease of such lands
AI Summary
This bill amends a previous law regarding the lease of lands at the State University of New York (SUNY) at Purchase, specifically modifying how the proceeds from such leases are allocated. The bill requires that 75% of lease proceeds be directed to financial aid for New York state resident students who are eligible to receive a federal Pell grant (a needs-based federal grant for low-income undergraduate students) or tuition assistance awards under specific state education law provisions. The remaining 25% of proceeds will continue to support current and additional full-time faculty positions. The changes aim to more precisely target financial aid to New York state residents with demonstrated financial need, as indicated by Pell grant eligibility. The bill will take effect immediately upon passage, updating the original 2011 law that authorized the land lease at SUNY Purchase.
Committee Categories
Education
Sponsors (1)
Last Action
SIGNED CHAP.554 (on 11/21/2025)
Official Document
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