NY A01998

Entitles public officers and employees of New York state, counties, community colleges, public authorities, BOCES, school districts, municipalities, and participating employers in state and local retirement systems to use accrued vacation time toward payment of student loans.

Exempts employees covered by collective bargaining agreements as of the effective date, though employee organizations may opt in through collective bargaining or negotiate alternative benefits.

Defines "student loan" as any loan to finance postsecondary education or related expenses, and "federal student loan" to include loans issued under the William D. Ford Federal Direct Loan Program, Federal Family Education Loan Program, or other federally-identified programs.

Requires the president to promulgate rules and regulations necessary for implementation of this section.

Takes effect on the 180th day after becoming law.