BILL NUMBER: S6193
SPONSOR: PARKER
 
TITLE OF BILL:
An act to amend the education law, in relation to financing for SUNY
downstate medical center
 
PURPOSE:
This legislation amends the education law to create a special fund that
shall consist of monies raised through the issuance of bonois as other-
wise authorized by law, grants from any governmental unit, and any addi-
tional appropriations to provide financial support to eligible insti-
tutions for infrastructural upgrades and expansions; facilitate research
and development grants; offer scholarships and financial aid to students
attending eligible institutions; and support community health initi-
atives and outreach programs led by eligible institutions.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1. Short title of the bill: SUNY Downstate Medical Support Act
of2024.
Section 2 amends Article 5 of the education law by adding a new part
2-A.
Section 3 provides the severability clause.
Section 4 sets forth the effective date.
 
JUSTIFICATION:
In preparing future doctors, nurses, and other medical workers, SUNY
Downstate Medical Center is an indispensable
institution. A designated fund would guarantee that the school main-
tains its position as a leader in medical education, which is crucial
considering the intricacies and ongoing changes in medical science. As a
key healthcare provider to a varied and highly populated urban neighbor-
hood, SUNY Downstate plays an important role in providing vital medical
services. Individuals who may be unable to afford adequate medical
treatment in the future would be able to do so with the help of a finan-
cial instrument fund.
Much of the region's employment and economic activity comes from SUNY
Downstate's operations. The local and state economies would benefit from
a dedicated fund's solid financial footing, which would stabilize and
maybe increase this influence.
This fund would provide a reliable way to support important infrastruc-
ture projects, such as keeping SUNY Downstate's facilities up-to-date
and ready to provide world-class healthcare.
Higher education institutions face financial sustainability problems due
to budgetary challenges and variations in funding streams. To ensure the
institution's financial stability in the long run, this fund would act
as a buffer against these concerns.
Society as a whole would reap the benefits of these initiatives' efforts
to reduce health inequalities and increase wellness. The establishment
of the SUNY Downstate Special Financial Instrument Fund is a morally
important measure to safeguard the institution and the entire ecosystem
that depends on it, considering the possible advantages.
 
LEGISLATIVE HISTORY:
2023-24: S8523- REFERRED TO HIGHER EDUCATION FISCAL IMPLICATIONS:
 
EFFECTIVE PATE:
This act shall take effect immediately.