N.Y. Educ. Law § 603

§ 603. Evaluation by the board of regents. On or before January\nfirst, nineteen hundred seventy-six, and annually thereafter on or\nbefore December first, the board of regents shall make a report to the\ngovernor and the temporary president of the senate, the speaker of the\nassembly, the senate finance committee, the assembly ways and means\ncommittee and the standing committees of the legislature having\njurisdiction of higher education evaluating all financial assistance and\nloan programs established by this article, which report shall contain\nsuch recommendations as the regents may deem appropriate.\n