GOVERNOR HOCHUL SIGNS LAW STOPPING STATE AGENCIES FROM CHARGING 22% LATE FEES ON UNPAID STUDENT DEBT
GOVERNOR HOCHUL SIGNS LEGISLATION ENDING THE PRACTICE OF CHARGING ADDITIONAL FEE ON OUTSTANDING STUDENT DEBT
Legislation (S.7862B/A.10261) Ends 22 Percent Fee on Outstanding Debt Owed to the State Resulting from Educational Expenses
Ends Punitive Law That Prohibits Students from Clearing Debts
Governor Kathy Hochul signed legislation (S.7862B/A.10261) ending the practice of charging an additional fee to debtors when collecting outstanding debts owed to the State resulting from educational expenses. Prior to this law, a fee of 22 percent was added by state law on top of the total debt due.
“When students across New York spoke up about the difficulties of digging out of debt, my administration listened,” Governor Hochul said. “By signing this legislation, we are removing a barrier to higher education and ensuring that students can graduate without debilitating debt that has disproportionately hurt students least able to afford it. Every New Yorker deserves access to a quality education without fear of getting trapped in a cycle of debt.”
Legislation (S.7862B/A.10261) adds a provision to the state finance law prohibiting state agencies from collecting a 22 percent fee when enforcing debt collection on educational debt. Various state agencies collect educational debts owed to the State, and when unable to collect through traditional means, these debts may be referred to the Office of the Attorney General’s Civil Recoveries Bureau. Prior to the signing of this legislation, state law provided that the Attorney General recover its costs in pursuing collection of this educational debt through an additional fee of up to 22 percent of the outstanding debt; That fee was then added on top of the total debt due, which substantially increased the amount owed by student debtors.
GOVERNOR HOCHUL EARMARKS $18.1 MILLION FOR CARBON EMISSIONS REDUCTION & SEQUESTERING CARBON TECHNOLOGY
Supports Climate Leadership and Community Protection Act Goal To Reduce Greenhouse Gas Emissions 85 Percent by 2050
Governor Kathy Hochul Wednesday announced that $18.1 million is now available through the Natural Carbon Solutions Innovation Challenge for the development of innovative nature-based solutions that lower emissions and sequester carbon through novel products and services.
The funding will support innovation, help build capacity, inform policy, and refine best practices to enable the scaling of sustainable solutions. Today’s announcement supports the Climate Leadership and Community Protection Act goal to reduce greenhouse gas emissions 85 percent by 2050.
“New York is leading the fight against climate change by spurring innovation and revolutionizing the ways we reduce carbon emissions,” Governor Hochul said. “The $18.1 million available today will help attract companies with cutting-edge technologies, knowledge, and products to lower carbon emmissions and create a more resilient, cleaner future for New Yorkers.”
The New York State Energy Research and Development Authority (NYSERDA) will administer the funding through its Natural Carbon Solutions Challenge. It is is seeking proposals from private companies, research institutions, and other organizations for innovative solutions that produce low-emissions products or sequester carbon in durable materials.
Solutions of interest include methods to increase carbon sequestration, reduce waste methane emissions, and support the needs of New York’s building stock, particularly for building shell retrofits and new construction that are key to achieving New York’s energy conservation goals.
In addition, this solicitation seeks approaches that can benefit underserved communities and environmental justice areas by using novel approaches to optimize land use to increase carbon sequestration, resilience and renewable energy deployment, reducing air and water pollution, providing cost savings for energy services, and stimulating job creation in climate smart industries.
RIDERSHIP ON NYC MASS TRANSIT EXCEEDS POST PANDEMIC LEVELS.
Governor Kathy Hochul Wednesday announced that the Metropolitan Transportation Authority Metro-North Railroad set a pandemic-era ridership record yesterday, Tuesday, October 11 with 193,000 riders, topping the previous record set on Tuesday, September 20.
In addition, on Saturday, October 8, the New York City subway carried 2,396,000 riders constituting 73.4 percent of pre-pandemic levels, topping the previous pandemic weekend ridership record of 2,388,000 set two weeks prior.
Subway OMNY also had a record high of 1,071,000 million taps for weekends that day.
Access-A-Ride also reached a pandemic record of 28,500 trips booked on Thursday, October 6, approximately 90 percent of pre-pandemic levels.
“I am thrilled to see New Yorkers continue to break ridership records and am eager to see how far this momentum can take us,” Governor Hochul said. “Public transportation is not only an environmentally friendly and affordable way to travel around New York City and State but is also the best way to enjoy all that New York has to offer.”