Bill > A08142

This bill amends a previous law concerning the lease of lands at the State University of New York at Purchase, specifically modifying how proceeds from such leases will be 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 financial aid award for low-income undergraduate students). Previously, the law allowed for financial aid to students receiving tuition assistance awards, but now specifically targets Pell grant-eligible New York state residents. The remaining 25% of proceeds will continue to support current and additional full-time faculty positions. The bill maintains the original provisions requiring that lease contracts be approved by the attorney general, director of the budget, and state comptroller, but narrows the financial aid recipient criteria to focus on Pell grant-eligible state residents. The amendment aims to more precisely target financial support to New York students with the greatest financial need.

Budget and Finance, Education

https://www.nysenate.gov/legislation/bills/2025/A8142