BILL NUMBER: S6405
SPONSOR: JACKSON
 
TITLE OF BILL:
An act to amend the civil service law, in relation to use of accrued
vacation time
 
PURPOSE:
To allow New York State employees to use the value of accrued vacation
time towards the payment of student loans.
 
SUMMARY OF PROVISIONS:
Section 1 adds a new Section 159-E to the Civil Service Law that allows
state employees to apply their accrued vacation time toward student loan
payments. The bill specifies eligibility requirements, addresses appli-
cation to collective bargaining agreements, provides a definition of
terms, and grants authority to the president to promulgate rules and
regulations necessary for implementation.
Section 2 sets the effective date.
 
JUSTIFICATION:
Three out of five New York college graduates are saddled with debt when
they finish school, according to a 2018 study by the Rockefeller Insti-
tute of Government. In addition, the State of New York has seen its
total student loan debt increase by 89% from 2008 to 2018, growing from
$47.2 billion to $89.3 billion. Student loan debt is a barrier to
economic growth and is responsible for a nearly 20% decline in homeown-
ership among young adults. Many New York public employees "cash out"
their unused vacation time upon termination of employment. This bill
will expand economic opportunities for New Yorkers by allowing these
employees to use accrued vacation time towards the payment of student
loans while they remain employed.
 
LEGISLATIVE HISTORY:
2023-2024: S.5477 - Referred to Civil Service and Pensions/A.1998
Referred to Governmental Employees
2021-2022: S.9274 - Referred to Civil Service and Pensions/A.1583-A
Amend and Recommit to Governmental Employees
2019-2020: 57788 - Referred to Civil Service and Pensions/A.8391
Referred to Governmental Employees
 
STATE AND LOCAL FISCAL IMPLICATIONS:
To be determined
 
EFFECTIVE DATE:
This act shall take effect on the one hundred eightieth day after it
shall have become a law.