NY Educ L § 6304 (2021)
2021 New York Laws EDN - Education Title 7 - State and City Colleges and Institutions-Cornell University Article 126 - Community Colleges and State-Aided Four-Year Colleges 6304 - Financing of Community Colleges.

§ 6304. Financing of community colleges. 1. The master plan, standards and  regulations  prescribed  by  the  state  university  trustees shall include provisions for financing the capital costs and  operating  costs of such colleges in the following manner:   a.  State  financial aid shall be one-third of the amount of operating costs, as approved by the state  university  trustees.  Operating  costs shall  not  include  any  payment  of  debt  service or rentals or other payments by a local sponsor to the dormitory authority pursuant  to  any lease,  sublease  or  other agreement entered into between the dormitory authority and a local sponsor. Such aid for a college shall, however, be for two-fifths of operating costs for any fiscal  year  of  the  college during which it is implementing a program of full opportunity provided a plan  has  been  approved  by  the state university trustees. Such plan, which shall be submitted by the college only after approval by the board of trustees and the local sponsor or sponsors, shall  (i) establish a  policy  of  offering  acceptance  in  an  appropriate program  of  the  college  to all applicants residing in the sponsorship area who graduated from  high  school  within  the  prior  year  and  to applicants  who  are  high  school  graduates and who were released from active duty with the armed forces of the United States within the  prior year;  (ii)  provide  for  full  implementation  of  such  policy by the fall semester of nineteen hundred seventy or, if the college demonstrates  to the  state  university  trustees  that  full implementation by such time would not be feasible and in the best interests of the college,  provide for  a  timetable  to achieve such full implementation within five years which provides for substantial growth in registration each year;  (iii) make provision  for  and  contain  adequate  assurances  of  the expenditure  of  funds by the sponsor or sponsors at a level pursuant to state university regulations, at least that necessary to  implement  the plan;  (iv)  provide  for  adequate  programs of remediation, instruction and counselling to meet the needs of  all  students  to  be  served  by  the college.  The  trustees  may  require periodic reports or certifications from colleges which have submitted plans which have  been  approved  and may,  in appropriate cases, revoke such approval in case a college is in default of implementing its plan.   b. (i) Operating costs shall not include any payment of  debt  service or  rentals  or  other  payments  by  a  local  sponsor to the dormitory authority pursuant to any lease, sublease  or  other  agreement  entered into between the dormitory authority and a local sponsor. Such operating costs shall be subject to such maximum limitations and joint regulations as  shall  be  prescribed  by  both the city university trustees and the state university trustees with the  approval  of  the  director  of  the budget.  Such  limitations  shall  be  based upon maximum allowances per student for each student in attendance in the case of  operating  costs, or  in  accordance with such other factors as may be deemed appropriate. Operating costs  shall  include  courses  offered  for  the  purpose  of providing  occupational  training  or  assistance  to  business  for the creation and retention of job opportunities and for the  improvement  of productivity,  through  contracts  or  arrangements  between a community college  and  a  business,   labor   organization,   or   not-for-profit corporations   or   other   nongovernmental   organizations,   including labor-management committees composed of labor,  business  and  community leaders  organized  to promote labor-management relations, productivity, the quality of working life, industrial development,  and  retention  of business in the community.  (ii)  By  December  thirty-first,  nineteen hundred seventy-three, the state university trustees shall develop a new formula for the  financing of  the  operating costs of community colleges. Such formula may include maximum limitations, regulations, and incentives to  achieve  compliance with the code of standards and procedures for community colleges.   The  state  university trustees shall present to the governor proposed legislation incorporating such formula into law for consideration during the nineteen hundred seventy-four regular session  of  the  legislature. The  state university trustees shall also present a detailed analysis of the fiscal impact of such a formula on the state and on  each  community college within the state.   Such  formula or the amended version thereof, upon enactment into law, shall  replace  any  limitations  and  regulations  then  in   existence concerning  the  financing of community colleges promulgated pursuant to this section.  (iii) The state university  trustees  shall,  on  or  before  December thirty-first in each year, make a report to the governor and legislature as  to  the  status of community college programs and curricula provided for in article one hundred twenty-six of this chapter. Such report shall also contain recommendations for  any  revision  or  alteration  in  the formula for financing the operating costs of community colleges.  (iv)  The  state  university  trustees  shall  promulgate regulations, effective the first day of July, nineteen  hundred  seventy-four,  which shall  include a code of standards and procedures for the administration and  operation  of  community  colleges.  Such  code  of  standards  and procedures,  may  include,  but  not  be limited to, minimum and maximum standards for academic curricula, minimum and  maximum  qualitative  and quantitative  standards  for  facilities,  and  standard  administrative procedures, which may include schedules and formats for the  preparation and submission of annual budgets by the boards of trustees and the local sponsors to the state university trustees, schedules for local sponsors' disbursements  to  the  community  colleges  of their provided shares of operating costs and systems  of  accounts  for  use  by  the  boards  of trustees  and  the  local  sponsors  of  the  community  colleges.  Such regulations  may  supplement,  replace  or  amend  any  limitations  and regulations then in existence promulgated pursuant to this section.   b-1. (i) Notwithstanding any provision of law to the contrary, for the community  college  fiscal  year  two  thousand  thirteen--two  thousand fourteen and thereafter, each  program  that  confers  a  credit-bearing certificate,   an  associate  of  occupational  studies  degree,  or  an associate of applied  science  degree,  shall  demonstrate  that  it  is preparing   students   for  current  and  future  job  opportunities  by partnering with employers as follows:  (A) The program is a partnership between the community college and one or more employers to train and employ students in a specific occupation;  (B) The program has an advisory committee made up of members  of  whom the  majority  are  employers  in the occupation or sector, or a related sector, or is  otherwise  advised  by  one  or  more  employers  in  the occupation  or  sector, that employ or will employ workers in the region where the community college is located, and  such  committee  serves  to advise  the  community college on the program's curriculum, recruitment, placement and evaluation so that it  remains  up-to-date  with  employer needs; or  (C)  The program is in a high-tech sector and is in demand for current or projected job growth,  including  those  sectors  identified  by  the regional  economic  development  council,  and  is advised by current or potential future employers in the occupation or sector.  (ii) On or  before  January  first,  two  thousand  fourteen  for  the community  college  fiscal  year  two  thousand  thirteen--two  thousand fourteen, November  first,  two  thousand  fourteen  for  the  community college  fiscal  year  two  thousand  fourteen--two thousand fifteen and November  first  of  each  community college fiscal year thereafter, the state university trustees and the city university  trustees  shall  each submit a job linkage report to the director of the budget, the chairs of the senate and assembly higher education committees and the chair of the senate  finance  committee  and the chair of the assembly ways and means committee, including an accounting of full time equivalent enrollment in programs  that  confer   credit-bearing   certificates,   associate   of occupational  studies  degrees, or associate of applied science degrees, in such a form and manner as the director of the budget may  require  to verify compliance with subparagraph (i) of this paragraph.   b-2.  (i) Notwithstanding any provision of law to the contrary, within amounts appropriated for incentive funding, the state university of  New York  and  city  university  of  New York shall make awards to community colleges from the next generation NY job linkage program incentive  fund based  on  measures  of  student  success  for  all students enrolled in programs that confer  a  credit-bearing  certificate,  an  associate  of occupational  studies degree, or an associate of applied science degree, including, but not limited to:  (A) The number of  students  who  are  employed  following  degree  or certificate  completion  and  their wage gains, if any, as determined by the department of labor, which shall be  given  the  greatest  weighting among all measures of student success;  (B)  The  number  of  degree  completions, certificate completions and student transfers to other institutions of higher education;  (C) The number of degree and certificate completions under clause  (B) of  this  paragraph  by  students considered academically at-risk due to economic disadvantage or other factor of under-representation within the field of study; veterans; and the disabled;  (D)  The  number  of  students  who  make  adequate  progress  towards completion  of  a  degree  or certificate, which may include accelerated completion of a developmental education program;  (E) The number of degree completions in innovative  programs  designed to   enable   students  to  balance  school,  work  and  other  personal responsibilities; and  (F)  The  number  of  students  engaged  in  career   and   employment opportunities  including apprenticeships, cooperative education programs or other paid work experience that is an integral part of their academic program.  (ii) Awards shall be made on a pro-rata basis  in  accordance  with  a methodology  and  in  a form and manner developed by the director of the budget, in consultation with the state university and city university.  (iii) On or before December first of each year, or an alternative date as determined by the director of the budget  in  consultation  with  the state  university and city university, the state university trustees and the city university trustees shall each submit a plan  for  approval  by the  director  of  the budget to allocate amounts available for the next generation NY job linkage program incentive fund in accordance with this paragraph.   c. The local sponsor or sponsors shall provide one-half of the  amount of  the capital costs, or so much as may be necessary, and one-third or, in the case of a college implementing a program of full opportunity  for local  residents,  four-fifteenths of the operating costs, or so much as may be necessary, by appropriations from general revenues or from  funds derived  from  special  tax  levies  earmarked in part or whole for such  purposes, by the use of gifts of money or, with the consent of the state university trustees, by the use of property, gifts of property or by the furnishing of services or, where a community college region is the local sponsor,  in  the  manner provided by section sixty-three hundred ten of this chapter. Where the local sponsor  or  sponsors  provide  all  or  a portion  of  its or their share of capital or operating costs in real or personal property or in services, the valuation  of  such  property  and services for the purpose of determining the amount of state aid shall be made  by the state university trustees with the approval of the director of the budget. Local sponsors and, in  the  case  of  community  college regions, any county, city or school district which has appointed members to  a  community  college  regional  board of trustees may authorize the issuance of bonds or notes pursuant  to  the  provisions  of  the  local finance law to provide any portion or all of its requisite share of such costs  for which a period of probable usefulness has been established in the local finance law. Where a county or city is the local sponsor of  a community  college,  or appoints members to a community college regional board of trustees, the expenditures  of  the  county  or  city  for  the college,  or  community college region, shall be a purpose of the county or city provided, however, that taxes to pay the local  sponsor's  share of  operating  costs,  or  the operating shares of the community college region charged to the county, may be charged  back  to  the  cities  and towns  in  the  county in proportion to the number of students attending the community college each term who were residents of each such city  or town at the beginning of such term.   Notwithstanding  any  provision of law to the contrary, in the case of community  college  regions,  a  community  college  regional  board  of trustees  as  finance  board of the region may authorize the issuance of bonds, notes or other evidence of indebtedness or the effectuation of  a financing transaction by the community college region with the dormitory authority  pursuant  to the provisions of article eight of title four of the public authorities law to provide all or any portion of  such  costs for  which  a  period of possible usefulness has been established in the local finance law. Notwithstanding  any  other  provision  of  law,  the community college region shall itself have the power to borrow money for specific  objects  or  purposes  or  a  class  or  classes of objects or purposes described  in  section  11.00  of  the  local  finance  law  by adoption,  by two-thirds of the voting strength of the regional board of trustees thereof, of a bond resolution as described in section 32.00  of the  local  finance  law  and  shall include the recitation described in section 80.00 of the local  finance  law.  Said  bond  resolution  shall include  the  power  to  enter  into  financing  transactions  with  the dormitory authority in accordance with the provisions of  article  eight of  title  four of the public authorities law. Upon adoption and receipt of the approvals described in subdivision  ten  of  section  sixty-three hundred  ten of this article, the community college region shall publish a legal notice of estoppel as described in section 81.00  of  the  local finance  law,  which  shall  be  applicable  to  said bond resolution. A community college region is hereby authorized to pledge any revenues  or other  monies to the payment of any obligations issued, or any financing agreement entered into with the dormitory authority.   d. Tuition and fees charged students shall  be  fixed  so  as  not  to exceed  in  the aggregate more than one-third of the amount of operating costs of the community college.   1-b. For the purpose of budgeting and  expending  funds  and  for  the purpose of determining eligibility for state financial aid for operating costs  pursuant to subdivision one of this section, subject to rules and regulations of the state university trustees and  the  approval  of  the  director  of  the budget, the community colleges in the city of New York sponsored by the board of higher education or by the city  of  New  York where  the board of higher education has been designated as the trustees of such colleges, shall be treated as a single community college.   2.  Community colleges shall be empowered and authorized through their boards of trustees,  to  accept  gifts,  grants,  bequests  and  devises absolutely or in trust for such purposes as may be appropriate or proper for effectuating the programs and objectives of such colleges.   3.  Nothing  herein  contained shall be construed to prevent any local sponsor or sponsors from creating and operating community colleges which exceed maximum cost limitations or allowances prescribed  by  the  state university  trustees,  provided however, that the excess costs over such prescribed limits or allowances shall be borne and paid for or otherwise made available to or by such sponsors.   4. Where two or more local sponsors jointly establish  and  operate  a community  college,  the  local  share  of  the  capital  costs shall be apportioned among them according to their respective equalized  assessed valuations  or  such  other  factors  or  bases  as  may  be provided or prescribed in the plans, standards and  regulations  prescribed  by  the state  university  trustees.  The  local share of the operating expenses shall be apportioned among such joint sponsors in  accordance  with  the number  of students who are residents of their respective areas, or such other  factors  as  may  be  prescribed  in  the  plans,  standards  and regulations by the state university trustees.   5.  Any  community  college  may, with the consent and approval of its local legislative body or board, community  college  regional  board  of trustees,   or   other  appropriate  governing  agency,  and  the  state university trustees, require lesser tuition charges or fees from persons who are residents of the sponsoring community, communities or  community college  region  than  the  amount necessary in the aggregate to provide one-third of the operating costs, or provide  tuition  to  such  persons without  charge,  provided  that  the  local  legislative body or board, community college  regional  board  of  trustees  or  other  appropriate governing  agency appropriates sufficient funds, or sufficient funds are made available from other sources to  provide  the  amount  which  would normally  be  provided  by such tuition and fees. Each community college shall provide that upon request by a student who is an eligible  veteran the  payment  of  tuition  and  fees,  less the amounts payable for such purposes from scholarships or other financial  assistance  awarded  said veteran  pursuant  to  article  thirteen  of  this  chapter, article one hundred thirty of this chapter or any other community college, state  or federal  financial  aid  program,  shall be deferred in such amounts and until such times as the several payments of veterans' benefits under the Veterans' Readjustment Benefit Act of l966, as amended, are received  by the  veteran,  provided  that  the  veteran  has  filed a claim for such benefits and presents to the community  college  proof  of  eligibility, extent  of  entitlement  to benefits and the need for deferral until the receipt of such benefits.   5-a. Notwithstanding the provisions of any general, special  or  local law  to  the contrary, the fiscal year of a community college other than in the city of New York  and  other  than  one  sponsored  by  a  school district,  shall  begin with the first day of September and end with the thirty-first day of August in each year. All of the  provisions  of  law fixing  times  or  dates  within which or by which certain acts shall be performed in relation to the preparation and adoption of the budget of a city or a county, including but not limited to submission  of  a  budget estimate, filing of a tentative budget, public hearing and adoption of a budget,  shall  apply  to the budget of a community college sponsored by  such city or county but shall be correspondingly changed, as to time, to relate to the commencement of the fiscal year of the community  college; provided, however, that after the budget for the community college shall have  been  adopted,  the  local  legislative  body  or  board  or other appropriate governing body  shall  provide  for  the  raising  of  taxes required  by  such  budget,  without any decrease in amount, in the same manner and at the same time prescribed by law for  the  annual  levy  of taxes  by or for the city or county. All of the provisions of law fixing times and dates within which or by which certain acts shall be performed in relation to the preparation and adoption of the budget  of  a  school district shall apply to the budget of a community college sponsored by a school  district.  The provisions of this subdivision shall not apply to community college regions.   5-b. Moneys raised by taxation for maintenance of a community  college and moneys received from all other sources for purposes of the community college,  other than in the city of New York, shall be kept separate and distinct from any other moneys of the sponsor or sponsors and shall  not be  used  for  any  other  purpose.  The  amount  of  taxes  levied  for maintenance of a community college shall be credited  thereto  and  made available therefor within the fiscal year of such community college. The provisions  of  this  subdivision  shall  not apply to community college regions.   6. The local legislative body or board, or other appropriate governing agency, other than a community college regional board of trustees, shall provide the local sponsor's share of the community college operating and capital costs  in  conformance  with  such  sponsor's  annual  budgetary appropriation,  and  shall direct that payment of all appropriations for maintenance of the college be made to  the  board  of  trustees  of  the college  for  expenditure  by  the  board,  subject  to  the  terms  and conditions of such appropriations appearing in such budget and  to  such regulations regarding the custody, deposit, audit and payment thereof as such  local  legislative  body  or board, or other appropriate governing agency, may deem proper to carry out the terms of the  budget;  provided that  any  local  sponsor  which,  as of January first, nineteen hundred eighty-eight, provided for audit and  payment  of  charges  against  the community  college  in  the same manner as it provides for other charges against the local sponsor, may continue to do so for  a  period  not  to extend beyond September first, nineteen hundred eighty-nine.   Such  local  legislative body or board, or other appropriate governing agency, shall authorize the board of trustees of the college to elect  a treasurer,  establish  a  bank  account  or  accounts in the name of the college and deposit therein moneys received or collected by the college, including moneys appropriated and paid  by  the  local  sponsor,  moneys received  from  tuition,  fees, charges, sales of products and services, and from all other sources. The board of trustees of the college  shall, subject  to  the  requirements  specified in or imposed pursuant to this subdivision, authorize  the  treasurer  to  pay  all  proper  bills  and accounts of the college, including salaries and wages, from funds in its custody.  The  treasurer shall execute a bond or official undertaking to the board of trustees of the college in such sum and with such  sureties as  that  board  shall  require, the expense of which shall be a college charge.   The board of trustees of the college  similarly  shall  authorize  the treasurer  to  establish and maintain petty cash funds, not in excess of two  hundred  dollars  each,   for   specified   college   purposes   or undertakings,  from  which  may  be  paid, in advance of audit, properly itemized and verified or certified  bills  for  materials,  supplies  or services  furnished  to  the  college for the conduct of its affairs and  upon terms calling for the payment  of  cash  to  the  vendor  upon  the delivery  of any such materials or supplies or the rendering of any such services. Lists of all expenditures made  from  such  petty  cash  funds shall  be  presented  to  the  board of trustees at each regular meeting thereof, together with the bills supporting such expenditures, for audit and the board shall direct reimbursement of such petty cash  funds  from the  appropriate budgetary item or items in an amount equal to the total of such bills which it shall so audit and allow. Any of  such  bills  or any portion of any of such bills as shall be disallowed upon audit shall be  the personal responsibility of the treasurer and such official shall forthwith  reimburse  such  petty  cash  fund  in  the  amount  of  such disallowances.   The board of trustees of the college shall provide for periodic audits of  all  accounts  maintained  at  its direction and render such reports respecting any and all receipts and expenditures of the college  as  the local  legislative body or board, or other appropriate governing agency, may direct.   7. The board of trustees of the  college,  or  the  community  college regional  board  of  trustees  may  require  any bank or banker in which community college moneys are on deposit or are to be deposited  to  file with the board a surety bond payable to the college executed by a surety company  authorized  to  transact business in this state and securing to the college the  payment  of  such  deposits  and  the  agreed  interest thereon,  if  any.  In  lieu of a surety bond, the board may require any such bank or banker to deposit with it outstanding unmatured obligations of the United States of America, the  state  of  New  York,  or  of  any municipality  or  college of the state of New York, as security for such moneys so deposited; but  such  obligations  shall  be  subject  to  the approval  of  the  board  and  shall be deposited in such place and held under such conditions as the board may determine.  Every  depositary  of college  moneys is hereby authorized and empowered to secure deposits of such moneys as provided in this subdivision.   8. a. The state shall, in addition to any  other  funds  that  may  be appropriated  for assistance to community colleges, annually appropriate and pay  (i) to the local sponsor of each community college, except a community college where the local sponsor has entered into an agreement  with  the dormitory  authority  to  finance  and  construct  a  community  college facility, an amount equal to  the  aggregate  of  all  rentals  and  all payments  due  and  payable  to  the dormitory authority pursuant to any lease, sublease, or other agreement entered into between  the  dormitory authority  and  such  local  sponsor,  whether or not such local sponsor shall be liable therefor, for each twelve-month period beginning on  the next succeeding July first, and  (ii)  to  the  local sponsor of each community college where the local sponsor has entered into an agreement with the  dormitory  authority  to finance  and  construct a community college facility, an amount equal to one-half of all  rentals  and  all  payments  due  and  payable  to  the dormitory  authority pursuant to any lease, sublease, or other agreement entered into between the dormitory authority  and  such  local  sponsor, whether  or  not  such  local sponsor shall be liable therefor, for each twelve-month  period  beginning  on  the  next  succeeding  July  first, provided,  however,  if  such  a local sponsor shall thereafter agree to finance the costs of providing  all  or  part  of  a  community  college facility  the state shall, instead, annually appropriate and pay to such local sponsor an amount equal to that portion of  all  rentals  and  all payments   due  and  payable  to  the  dormitory  authority  during  the twelve-month period beginning on the next succeeding July first pursuant  to any lease, sublease or other agreement providing for  such  financing which  portion  represents  the  state's share (one-half) of the cost of each facility being financed, whether or not the local sponsor shall  be liable to pay such rentals and payments, and  (iii)  to  the  local  sponsor  of  each  community  college which has financed the entire capital cost of  constructing  a  community  college facility,  an  amount  equal  to  one-half of the annual debt service on obligations issued by such local sponsor for the purpose of constructing such facility. No local sponsor of a community college shall be eligible for assistance pursuant to the provisions of this paragraph unless:  (a) a  first instance appropriation has been enacted into state law prior to the commencement of construction; and  (b)  the  state  comptroller  has approved  the  interest  rate  of any and all obligations issued by such local sponsor after July twenty-fourth, nineteen hundred seventy-six  to finance  the  cost  of  such  facility  prior  to  the  issuance of such obligations; and (c) all contracts for the construction of such facility entered into by such local sponsor after  July  twenty-fourth,  nineteen hundred  seventy-six  have  been  approved by the director of the budget prior to the awarding of such contracts.  (iv) notwithstanding any other provision  of  this  paragraph  to  the contrary,  if  the  dormitory  authority and the state university of New York shall have  entered  into  an  agreement  pursuant  to  subdivision twenty-one  of  section  sixteen  hundred  seventy-eight  of  the public authorities law and paragraph x of  subdivision  two  of  section  three hundred fifty-five of this chapter, the amounts otherwise payable to the local  sponsors  of the community colleges pursuant to this subparagraph on account of the state's share of  the  cost  of  each  facility  being financed  shall be payable to the dormitory authority in accordance with subdivision five of section ninety-seven-p of the state finance law.   b. For the purposes of this subdivision, all references to  the  local sponsor of a community college shall be deemed, in the case of community college  regions, to refer to those counties, cities or school districts which have appointed members to a community college  regional  board  of trustees.   c.  For  purposes  of  this  subdivision,  the  reference to the local sponsor of a community college may be deemed, in the case of a community college region, to alternatively refer to the community college regional board of trustees thereof.   9. a. Where construction of a community college facility has commenced pursuant to the provisions of a lease, sublease or other agreement  with the dormitory authority or prior to July twenty-fourth, nineteen hundred seventy-six,  the  local  sponsor of such community college may elect to finance the entire capital cost of constructing such  facility  pursuant to the provisions of subdivision ten of this section, provided, however, that the proceeds of obligations issued by such local sponsor to finance the  capital  cost  of  constructing  such  facility  may be paid to the dormitory authority to the  extent  of  amounts  owing  under  a  lease, sublease or other agreement with the dormitory authority entered into by such  local  sponsor with respect to such facility, and provided further that any such local  sponsor  which  elected  to  refinance  the  entire capital  cost  of  constructing a community college facility pursuant to the provisions of this subdivision, may, at  the  time  it  enters  into permanent  financing  of  such  facility, elect to do so pursuant to the provisions of the dormitory authority act or  subdivision  ten  of  this section.   b.  For  the purposes of this subdivision, all references to the local sponsor of a community college shall be deemed, in the case of community college regions, to refer to those counties, cities or school  districts  which  have  appointed  members to a community college regional board of trustees.   10. a. Each local sponsor of a community college shall have full power and  authority  to  finance  all  or a portion of the capital costs of a community college facility pursuant  to  the  provisions  of  the  local finance law and to expend the proceeds therefrom to pay such costs.   b.  For  the  purposes of this subdivision, the reference to the local sponsor of a community college shall be deemed, in the case of community college regions, to refer to those counties, cities or school  districts which  have  appointed  members to a community college regional board of trustees.   c. A community college region shall have full power and  authority  to finance  all  or  a portion of the capital costs of a regional community college facility pursuant to the provisions of article  eight  of  title four  of the public authorities law and to expend the proceeds therefrom to pay such costs.   11. a.  The  following  terms,  when  used  or  referred  to  in  this subdivision, shall have the following meaning:  (i)  "Credit  card"  means any credit card, credit plate, charge card, charge plate, courtesy card,  debit  card,  other  identification  card, value  transfer  device  as  defined  by the state comptroller or device issued by a person to another person which may be used to obtain a  cash advance  or  a  loan  or  credit,  or  to  purchase or lease property or services on the credit of the person issuing the credit card or a person who has agreed with the issuer to pay obligations arising from  the  use of a credit card issued to another person.  (ii)  "Card  issuer"  means an issuer of a credit card, charge card or other value transfer device.  (iii)  "Financing  agency"  means  any  agency  defined  as  such   in subdivision  eighteen  of  section  four  hundred  one  of  the personal property law.  (iv) "Person" means an individual,  partnership,  corporation  or  any other legal or commercial entity.   b.  The  board  of trustees of any community college may determine, by resolution, that  it  is  in  the  public  interest  to  authorize  such community  college  to  enter into agreements with one or more financing agencies or card issuers to provide for the acceptance, by such officers of  the  community  college  as  may  be  designated  pursuant  to  this subdivision, of credit cards as a means of payment of tuition, expenses, fees,  charges,  revenue, financial obligations or other amounts owed by students to the community college. Any such agreement shall  govern  the terms  and  conditions  upon which a credit card proffered as a means of payment  of  tuition,  expenses,  fees,  charges,   revenue,   financial obligations  or  other  amounts  shall  be  accepted or declined and the manner in and conditions upon which the financing agency or card  issuer shall  pay  to  such  community college the amount of tuition, expenses, fees, charges, revenue, financial obligations or other amounts  paid  by means  of  a  credit card pursuant to such agreement. Any such agreement may provide for the payment by such community college to such  financing agency  or  card  issuer  of  fees  for  the  services  provided by such financing agency or card issuer pursuant to such agreement,  which  fees may  consist  of  a  discount deducted from or payable in respect of the amount of each such tuition, expense, fee,  charge,  revenue,  financial obligation  or  other  amount. If fees are paid by such a discount, they shall be post-audited by the officer or board of the  community  college responsible for auditing claims against the community college.   c.  Any  community  college which has entered into an agreement with a financing agency or card issuer as authorized by  this  subdivision  may  accept  credit  cards  as a means of payment of tuition, expenses, fees, charges, revenue, financial obligations or other amounts, as provided in such agreement and may pay such fees as are specified in such  agreement to such financing agency or card issuer in consideration of the services rendered   by   such   financing   agency  or  card  issuer  thereunder. Notwithstanding any other provision of law to the contrary, it shall  be the option of the board of trustees of the community college to require, as  a  condition  of  accepting payment by credit card, that such person offering payment by credit or charge card  pay  a  service  fee  to  the community  college not exceeding costs incurred by the community college in connection with  the  credit  or  charge  card  payment  transaction, including  any fee owed by the community college to the financing agency or card issuer arising from that transaction.   d.  Contracts  entered  into  pursuant  to  this  subdivision  between community  college  and  financing  agencies  or  card  issuers shall be awarded in accordance with  the  community  college's  written  internal policies and procedures governing procurements.   e.  The  underlying  debt,  lien,  obligation,  bill, account or other amount owed by the student to the community college for which payment by credit card is accepted by the community college shall not be  expunged, cancelled,  released,  discharged or satisfied, and any receipt or other evidence of payment shall be deemed  conditional,  until  the  community college  has received final and unconditional payment of the full amount due from the financing agency  or  card  issuer  for  such  credit  card transaction.   f.  The  board  of trustees, in enacting a resolution pursuant to this subdivision, shall designate which of its  officers,  charged  with  the duty  of  collecting  or  receiving  moneys  on  behalf of the community college, shall be authorized to  accept  credit  cards  as  a  means  of payment   of   tuition,  expenses,  fees,  charges,  revenue,  financial obligations and other amounts.   g.  Under  circumstances  where  community  colleges   are   otherwise authorized  by  law to contract for the collection of tuition, expenses, fees, charges, revenue, financial obligations  or  other  amounts,  such contract  shall  provide  that  the  contractor accept credit cards as a mechanism for payment.   12. a. Notwithstanding any other law  to  the  contrary,  whenever  an officer of a community college is authorized pursuant to law to disburse or  transfer  on behalf of the community college funds in the custody of the officer, that officer shall be authorized to  disburse  or  transfer such  funds  by  means of electronic or wire transfer. Such disbursement shall be otherwise subject to applicable laws, provided that:  (i) the board of trustees of the community college has entered into  a written  agreement  with  the  bank or trust company in which such funds have been deposited, prescribing the manner in which electronic or  wire transfer  of such funds shall be accomplished, identifying by number and name those accounts from which electronic or wire transfers may be made, identifying which officer  or  officers  are  authorized  to  order  the electronic   or   wire  transfer  of  funds  from  those  accounts,  and implementing a security procedure as defined in section 4-A-201  of  the uniform commercial code; and  (ii)  the  bank or trust company processing the transfer shall provide to the officer ordering the electronic or wire transfer of funds written confirmation of each such transaction no later  than  the  business  day following the day on which the funds are transmitted.   b.  It  shall  be  the  duty of the board of trustees of the community college to adopt a system of internal controls for the documentation and  reporting of all transfers or disbursements  of  funds  accomplished  by electronic or wire transfer.   13.  a.  The board of trustees of any community college may determine, by resolution, that it is in the  public  interest  and  authorize  such community  college  to  provide for the acceptance of tuition, expenses, fees, charges, revenue, financial obligations or  other  amounts  via  a community college internet website. However, submission via the internet may  not  be  required as the sole method for the collection of tuition, expenses, fees, charges  and  other  amounts.  Such  payments  shall  be accepted  via  the  internet  in  a manner and condition defined by such community college. Any method used to receive  internet  payments  shall comply  with  article  one of the state technology law and any rules and regulations promulgated and guidelines developed thereunder  and,  at  a minimum must:  (i) authenticate the identity of the sender; and  (ii) ensure the security of the information transmitted.   b.  Payments received via the internet shall be considered received by the appropriate officer and paid by the payor at the time  the  internet transaction is completed and sent by the payor.   c.  The  underlying  debt,  lien,  obligation,  bill, account or other amount owed by the student to the community college for which payment by internet is accepted by the community college  shall  not  be  expunged, cancelled,  released,  discharged or satisfied, and any receipt or other evidence of payment shall be deemed  conditional,  until  the  community college  has received final and unconditional payment of the full amount due.   d. The board of trustees, in enacting a resolution  pursuant  to  this subdivision,  shall  designate  which  of its officers, charged with the duty of collecting or  receiving  moneys  on  behalf  of  the  community college, shall be authorized to accept such payments via the internet.