NY A05806

Amends Chapter 405 of the Laws of 2011 to clarify that 25 percent of lease proceeds from SUNY Purchase lands may support both current and additional full-time faculty positions.

Requires the SUNY Board of Trustees to allocate lease proceeds as follows: 75 percent for student financial aid (tuition assistance awards) and 25 percent for faculty positions.

Mandates annual reporting by July 1st to state officials detailing lease proceeds allocation, faculty spending and positions created, and scholarship distribution by student income brackets ($0-20,000; $20,001-40,000; $40,001-60,000; and $60,001-80,000).

Requires reporting on the total number of students receiving scholarships and breakdown by specified income categories under Education Law Section 663.

Takes effect immediately upon enactment.