§ 19-02.
RCNY § 19-02
Department. The term "Department" means the New York City Department of Education. NYC Scholarship Account. The term "NYC Scholarship Account" means an account that includes an allocation from a New York State 529 College Savings Program Direct Plan omnibus account provided pursuant to this chapter to an eligible student for Qualified Higher Education Expenses for the benefit of such eligible student. Participating City School. The term "Participating City School" means any school managed by the Department that has at least one grade of students that are eligible for the Program, and any charter school within New York City that: (i) has at least one grade of students that are eligible for the Program, and (ii) has opted into the Program. Pilot Program. The term "Pilot Program" means the pilot program that operated during the 2017-18 through 2020-21 school years to provide NYC Scholarship Accounts to qualifying students in one geographic school district pursuant to the 2017 program agreement among the City of New York, the Department, and the not-for-profit corporation NYC Kids RISE, Inc. Pilot School. The term "Pilot School" means a school that participated in the Pilot Program in at least one of the school years that ended in 2018, 2019, 2020 and 2021. A Pilot School is also a Participating City School. Program. The term "Program" means the NYC Scholarship Account program described in this chapter. Qualified Higher Education Expenses. The term "Qualified Higher Education Expenses" means eligible post-secondary education costs for purposes of scholarships or 529 savings accounts as determined by the Internal Revenue Service, or as set forth in the Internal Revenue Code or Internal Revenue Bulletin. (Added City Record 4/6/2022, eff. 4/6/2022)
