S 1732: Relates to increasing the phase-out threshold for tuition assistance program awards from seven thousand dollars to eighteen thousand dollars.

  
  STATE OF NEW YORK ________________________________________________________________________ 1732 2025-2026 Regular Sessions  IN SENATE January 13, 2025 ___________ Introduced by Sen. FAHY -- 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 increasing the phase- out threshold for tuition assistance program awards The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (ii) of paragraph a of subdivision 3 of 2 section 667 of the education law, as amended by section 1 of part X of 3 chapter 56 of the laws of 2024, is amended to read as follows: 4 (ii) Except for students as noted in subparagraph (iii) of this para- 5 graph, the base amount as determined from subparagraph (i) of this para- 6 graph, shall be reduced in relation to income as follows: 7 Amount of income Schedule of reduction 8 of base amount 9 (A) Less than [seven] eighteen None 10 thousand dollars 11 (B) [Seven thousand dollars or Seven per centum of excess 12 more, but less than eleven over seven thousand dollars 13 thousand dollars 14 (C) Eleven thousand dollars or Two hundred eighty dollars 15 more, but less than eighteen plus ten per centum of excess 16 thousand dollars over eleven thousand dollars 17 (D)] Eighteen thousand dollars or Nine hundred eighty dollars 18 more, but not more than one plus twelve per centum of 19 hundred twenty-five excess over eighteen 20 thousand dollars thousand dollars 21 § 2. This act shall take effect on the one hundred eightieth day after 22 it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04787-01-5