Allows for a modest increase in annual income to not disqualify someone from the excelsior scholarship

This bill (S 6155) modifies New York's Excelsior Scholarship program to help current recipients maintain eligibility as their income grows. It allows the maximum allowable adjusted gross income threshold to increase by up to 3% annually after the first semester of receiving the scholarship, rather than requiring students to stay below a fixed income limit. The state education corporation (the "corporation") will review and determine if this annual 3% increase (or further increases at its discretion) prevents disqualification due to rising household income. This directly affects undergraduate students at New York state public colleges who currently receive the Excelsior Scholarship and experience typical annual income growth.