NY S07573

Modifies the income reduction schedule for Tuition Assistance Program (TAP) awards under New York Education Law Section 667 for the 2016-2017 and 2017-2018 academic years.

For 2016-2017: Adjusts reduction percentages for certain income brackets, including changing the rate from ten to nine percent for income between $11,000-$18,000 and from twelve to ten percent for income between $18,000-$100,000.

For 2017-2018: Establishes a new income-based reduction schedule with percentage reductions ranging from 3.19 percent to 80.64 percent based on income brackets starting at $10,000 and extending to $100,000.

Takes effect immediately and applies to all TAP awards commencing with the 2016-2017 academic year.