§ 6304. Financing of community colleges. 1. The master plan, standards\nand regulations prescribed by the state university trustees shall\ninclude provisions for financing the capital costs and operating costs\nof such colleges in the following manner:\n a. State financial aid shall be one-third of the amount of operating\ncosts, as approved by the state university trustees. Operating costs\nshall not include any payment of debt service or rentals or other\npayments by a local sponsor to the dormitory authority pursuant to any\nlease, sublease or other agreement entered into between the dormitory\nauthority and a local sponsor. Such aid for a college shall, however, be\nfor two-fifths of operating costs for any fiscal year of the college\nduring which it is implementing a program of full opportunity provided a\nplan has been approved by the state university trustees. Such plan,\nwhich shall be submitted by the college only after approval by the board\nof trustees and the local sponsor or sponsors, shall\n (i) establish a policy of offering acceptance in an appropriate\nprogram of the college to all applicants residing in the sponsorship\narea who graduated from high school within the prior year and to\napplicants who are high school graduates and who were released from\nactive duty with the armed forces of the United States within the prior\nyear;\n (ii) provide for full implementation of such policy by the fall\nsemester of nineteen hundred seventy or, if the college demonstrates to\nthe state university trustees that full implementation by such time\nwould not be feasible and in the best interests of the college, provide\nfor a timetable to achieve such full implementation within five years\nwhich provides for substantial growth in registration each year;\n (iii) make provision for and contain adequate assurances of the\nexpenditure of funds by the sponsor or sponsors at a level pursuant to\nstate university regulations, at least that necessary to implement the\nplan;\n (iv) provide for adequate programs of remediation, instruction and\ncounselling to meet the needs of all students to be served by the\ncollege. The trustees may require periodic reports or certifications\nfrom colleges which have submitted plans which have been approved and\nmay, in appropriate cases, revoke such approval in case a college is in\ndefault of implementing its plan.\n b. (i) Operating costs shall not include any payment of debt service\nor rentals or other payments by a local sponsor to the dormitory\nauthority pursuant to any lease, sublease or other agreement entered\ninto between the dormitory authority and a local sponsor. Such operating\ncosts shall be subject to such maximum limitations and joint regulations\nas shall be prescribed by both the city university trustees and the\nstate university trustees with the approval of the director of the\nbudget. Such limitations shall be based upon maximum allowances per\nstudent for each student in attendance in the case of operating costs,\nor in accordance with such other factors as may be deemed appropriate.\nOperating costs shall include courses offered for the purpose of\nproviding occupational training or assistance to business for the\ncreation and retention of job opportunities and for the improvement of\nproductivity, through contracts or arrangements between a community\ncollege and a business, labor organization, or not-for-profit\ncorporations or other nongovernmental organizations, including\nlabor-management committees composed of labor, business and community\nleaders organized to promote labor-management relations, productivity,\nthe quality of working life, industrial development, and retention of\nbusiness in the community.\n (ii) By December thirty-first, nineteen hundred seventy-three, the\nstate university trustees shall develop a new formula for the financing\nof the operating costs of community colleges. Such formula may include\nmaximum limitations, regulations, and in
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