A 4549: Establishes the SUNY downstate medical support fund to provide financial support for infrastructural upgrades and expansion; facilitates research and development grants in medical and health-related fields; offers scholarships and financial aid; supports community health initiatives and outreach programs.

  
  STATE OF NEW YORK ________________________________________________________________________ 4549 2025-2026 Regular Sessions  IN ASSEMBLY February 4, 2025 ___________ Introduced by M. of A. CUNNINGHAM, DAVILA -- read once and referred to the Committee on Higher Education AN ACT to amend the education law, in relation to financing for SUNY downstate medical center The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. This act shall be known and may be cited as the "SUNY down- 2 state medical support act". 3 § 2. Article 5 of the education law is amended by adding a new part 4 2-A to read as follows: 5 PART 2-A 6 SUNY DOWNSTATE MEDICAL SUPPORT FUND 7 Section 286. Definitions. 8 287. Establishment of the fund. 9 288. Objectives of the fund. 10 289. Capitalization of the fund. 11 289-a. Administration of the fund. 12 289-b. Oversight and accountability. 13 § 286. Definitions. As used in this part: 14 1. "Fund" refers to the SUNY downstate medical support fund. 15 2. "Institution" refers to any SUNY downstate medical center or 16 health-related institution. 17 3. "Eligible institution" refers to any institution under the state 18 university of New York (SUNY) system primarily involved in health educa- 19 tion, research, and patient care. 20 § 287. Establishment of the fund. 1. There is hereby established a 21 special fund to be known as the "SUNY downstate medical support fund". 22 2. The fund shall consist of monies raised through the issuance of 23 bonds as otherwise authorized by law, grants from any governmental unit, EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06575-01-5 
 A. 4549 2 1 and any additional appropriations as set forth in section two hundred 2 eighty-nine of this part. 3 § 288. Objectives of the fund. The fund shall be dedicated to: 4 1. Providing financial support to eligible institutions for infras- 5 tructural upgrades and expansion; 6 2. Facilitating research and development grants in medical and health- 7 related fields; 8 3. Offering scholarships and financial aid to students attending 9 eligible institutions; and 10 4. Supporting community health initiatives and outreach programs led 11 by eligible institutions. 12 § 289. Capitalization of the fund. 1. The initial capitalization of 13 the fund shall be attained through the issuance of revenue bonds by the 14 state treasury. 15 2. Bonds shall be tax-exempt to encourage investments by individual 16 and institutional investors. 17 3. The state shall pledge to allocate a portion of annual budgetary 18 surpluses to the fund to ensure its growth and sustainability, subject 19 to legislative appropriation. 20 § 289-a. Administration of the fund. 1. The fund shall be administered 21 by a board consisting of the chancellor of the state university, the 22 president of SUNY downstate medical center, and three additional members 23 appointed by the governor, with advice and consent from the legislature. 24 2. The board shall meet quarterly to review the performance of the 25 fund, authorize disbursements, and ensure compliance with the objectives 26 of this part. 27 3. An annual report shall be submitted to the legislature detailing 28 the fund's activities, financial health, and contributions to the eligi- 29 ble institutions. 30 § 289-b. Oversight and accountability. 1. The management of the fund 31 shall be subject to oversight by the legislative higher education 32 committees. 33 2. The oversight committees shall conduct a joint annual audit to 34 ensure proper use of the fund's resources. 35 § 3. Severability. If any clause, sentence, paragraph, subdivision, 36 section or part of this act shall be adjudged by any court of competent 37 jurisdiction to be invalid, such judgment shall not affect, impair, or 38 invalidate the remainder thereof, but shall be confined in its operation 39 to the clause, sentence, paragraph, subdivision, section or part thereof 40 directly involved in the controversy in which such judgment shall have 41 been rendered. It is hereby declared to be the intent of the legislature 42 that this act would have been enacted even if such invalid provisions 43 had not been included herein. 44 § 4. This act shall take effect immediately.