NY S05234

Adds a new subdivision to Section 153 of the executive law requiring the Department of State to provide technical assistance to municipalities upon request when a college or university closes within that municipality.

Technical assistance to be provided in cooperation with the Department of Economic Development and the Department of Education.

Covers topics including workforce transition and development, attracting new employers and economic opportunities, developing plans for formerly occupied college or university land and buildings, and recommendations for dealing with creditors and other entities with financial interests in the closed institution's assets.

Specifies that the state shall not become a party to any legal proceedings related to the creditor and financial assistance provided under this provision.

Takes effect immediately upon enactment.