Allows for a modest increase in annual income, not greater than three percent per year, to not disqualify someone from the excelsior scholarship.
Impact
The amendments in Bill A07938 aim to enhance the financial viability of the Excelsior Scholarship program for students attending public institutions of higher education in New York. By permitting a small increase in income, the legislation seeks to alleviate financial pressures on students and their families, recognizing that living costs can change during a student's academic career. This could lead to a broader base of eligible students and promote higher enrollment rates in public colleges and universities.
Summary
Bill A07938 proposes amendments to the education law regarding the Excelsior Scholarship program in New York. Specifically, the bill allows for a modest increase in an applicant's annual income, not exceeding three percent, without disqualifying them from receiving the scholarship. This adjustment is intended to make the scholarship more accessible to students as it recognizes financial changes that may occur over time while they pursue their education.
Conclusion
A07938 represents a step towards making higher education more accessible for students in New York. However, it also raises critical discussions regarding fiscal responsibility and the future of education funding in the state. Ensuring that the scholarship program remains sustainable while accommodating the evolving financial landscapes of students will be pivotal as this bill progresses through the legislative process.
Contention
While the bill appears to have beneficial intentions, there may be points of contention regarding how this income adjustment could affect scholarship funding and allocation. Critics might argue that increasing the income threshold could strain state resources, leading to questions about the sustainability of funding for the scholarship program in the long term. Additionally, there could be debates surrounding the criteria and regulations defining income adjustments and overall scholarship eligibility.
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.
Increases the applicable percentage of the child tax credit allowed in the empire state child tax credit from thirty-three percent to forty-five percent; prescribes how such payment or refund should be made based on amount.
Increases the percentage of hotel and motel tax authorized to be collected by the county of Albany from 6% to 6.5%; extends the authority of the county of Albany to impose and collect such tax for an additional three years.
Increases the percentage of hotel and motel tax authorized to be collected by the county of Albany from 6% to 6.5%; extends the authority of the county of Albany to impose and collect such tax for an additional three years.
Provides for an alternative hardship allowance for landlords in New York city rent controlled apartments which allows a hardship rent increase where a building's annual net income is less than 8.5 percent of the equalized assessed value.
Enacts the New York City truth in budgeting act to require notice and a public hearing prior to an increase in the real property tax levy greater than two percent over the prior year.