Allows for a modest increase in annual income, not greater than three percent per year, to not disqualify someone from the excelsior scholarship.
Summary
Bill S06155 aims to amend the education law regarding the Excelsior Scholarship program in New York. The primary focus of the bill is to allow for a modest increase in annual income—up to three percent per year—without disqualifying applicants from receiving the scholarship. This change is intended to provide greater financial flexibility for students while maintaining eligibility for the scholarship, which supports students pursuing undergraduate degrees at public institutions in New York State.
Impact
If enacted, this bill will modify the eligibility criteria for the Excelsior Scholarship by allowing students whose adjusted gross income increases modestly to remain eligible for the scholarship. This change could potentially increase access to higher education funding for students who might otherwise be disqualified due to slight increases in family income. The bill also includes provisions for students with disabilities, ensuring they have tailored eligibility criteria.
Sentiment
The sentiment surrounding Bill S06155 appears to be largely positive, as evidenced by the voting history. The bill passed the Senate Higher Education Committee unanimously and received a strong majority in the final Senate floor vote, indicating broad support among legislators. The discussions around the bill reflect a commitment to making higher education more accessible to New York students.
Contention
While the overall sentiment is positive, there may be some contention regarding the specifics of the income increase provision. Some legislators may express concerns about the potential financial implications for the state budget or the fairness of the income thresholds. However, no specific opposition points were highlighted in the available committee discussions or voting records.
Same As
Allows for a modest increase in annual income, not greater than three percent per year, to not disqualify someone from the excelsior scholarship.
Exempts the income of dependent applicants from their eligibility determination for excelsior scholarship and tuition assistance program awards and makes adjustments to certain award reduction schedules.
Income eligibility requirements for the North Star Promise scholarship program modified, and funding amounts for North Star Promise scholarships modified.
Includes individuals as contributors. Increases annual credit cap by percentage amount of unused credits. Increases the tax credit rate percentage. Establishes scholarships of $750,000 to disadvantaged students and $250,000 to pre-K students.
Increases the excelsior research and development tax credit maximum from six to twenty percent for qualified research and development expenditures attributable to activities conducted in New York state.