Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to higher education |
Mar 26, 2009 |
referred to higher education |
Assembly Bill A7243
2009-2010 Legislative Session
Sponsored By
JEFFRIES
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-A7243 (ACTIVE) - Details
2009-A7243 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7243 2009-2010 Regular Sessions I N A S S E M B L Y March 26, 2009 ___________ Introduced by M. of A. JEFFRIES -- read once and referred to the Commit- tee on Higher Education AN ACT to amend the education law, in relation to establishing the New York state employee loan forgiveness program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The education law is amended by adding a new section 679-f to read as follows: S 679-F. NEW YORK STATE EMPLOYEE LOAN FORGIVENESS PROGRAM. 1. PURPOSE. THE COMMISSIONER SHALL GRANT STUDENT LOAN FORGIVENESS AWARDS FOR THE PURPOSE OF RETAINING INDIVIDUALS SERVING AS EMPLOYEES OF A STATE EMPLOYER. 2. DEFINITIONS. (A) "STATE EMPLOYER" MEANS: (1) THE EXECUTIVE BRANCH OF THE STATE, (2) A COOPERATIVE EXTENSION ASSOCIATION ("ASSOCIATION"), (3) THE UNIFIED COURT SYSTEM, (4) THE SENATE, (5) THE ASSEMBLY, AND (6) JOINT LEGISLATIVE EMPLOYERS. (B) "STUDENT LOAN DEBT" MEANS THE TOTAL ANNUAL LOAN REPAYMENTS REQUIRED TO BE MADE BY THE ELIGIBLE EMPLOYEE ON THE CUMULATIVE TOTAL OF THE EMPLOYEE'S OUTSTANDING STUDENT LOANS COVERING THE COST OF ATTENDANCE AT AN UNDERGRADUATE INSTITUTION AND/OR GRADUATE SCHOOL. INTEREST PAID OR DUE ON SUCH LOANS SHALL BE CONSIDERED ELIGIBLE FOR REIMBURSEMENT UNDER THIS PROGRAM. FOR PURPOSES OF THIS CALCULATION, THE AMOUNT OF THE STUDENT LOAN EXPENSE SHALL BE REDUCED BY ANY GRANTS, LOAN FORGIVENESS, OR SIMILAR REDUCTIONS TO THE EMPLOYEE'S INDEBTEDNESS THAT HE OR SHE HAS RECEIVED OR SHALL RECEIVE. (C) "YEAR OF QUALIFIED SERVICE" MEANS THE TWELVE-MONTH PERIOD MEASURED FROM THE ANNIVERSARY OF THE INDIVIDUAL'S EMPLOYMENT WITH THE STATE EMPLOYER AND ADJUSTED FOR ANY INTERRUPTION IN EMPLOYMENT. 3. ELIGIBILITY. (A) TO BE ELIGIBLE FOR AN AWARD PURSUANT TO THIS SUBDIVISION, APPLICANTS SHALL: (1) BE EMPLOYED BY A STATE EMPLOYER; (2) EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04684-01-9
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