S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   405

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by M. of A. MAGNARELLI, CLARK, MILLMAN, WRIGHT, LIFTON, PERRY
  --  Multi-Sponsored by -- M. of A. ABBATE, BOYLAND, COLTON, GOTTFRIED,
  HEASTIE, JAFFEE, V. LOPEZ, LUPARDO, MAISEL, PEOPLES-STOKES,  ROBINSON,
  SWEENEY -- read once and referred to the Committee on Higher Education

AN  ACT  to  amend  the education law, in relation to creating the child
  care professionals loan forgiveness incentive program

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 605 of the education law is amended by adding a new
subdivision 13 to read as follows:
  13. NEW YORK STATE CHILD CARE PROFESSIONALS LOAN FORGIVENESS INCENTIVE
PROGRAM. A. PURPOSE.  THE PRESIDENT SHALL GRANT STUDENT LOAN FORGIVENESS
AWARDS  FOR  THE  PURPOSE OF INCREASING THE NUMBER OF CHILD CARE PROFES-
SIONALS EMPLOYED IN NEW YORK STATE. SUCH  AWARDS  SHALL  BE  MADE  ON  A
COMPETITIVE  BASIS  TO APPLICANTS WHO HAVE GRADUATED FROM AN INSTITUTION
OF HIGHER EDUCATION APPROVED OR REGISTERED BY THE REGENTS.
  B. ELIGIBILITY. (1) TO BE ELIGIBLE TO RECEIVE  AN  AWARD  PURSUANT  TO
THIS  SUBDIVISION, AN APPLICANT MUST BE A RESIDENT OF NEW YORK STATE WHO
HAS GRADUATED FROM  AN  INSTITUTION  OF  HIGHER  EDUCATION  AND  HAS  AN
OUTSTANDING STUDENT LOAN DEBT.
  (2)  SUCH  AWARDS  SHALL  BE MADE ANNUALLY TO ELIGIBLE APPLICANTS WHO,
PRIOR TO ACCEPTING SUCH AWARDS, ENGAGED IN TWELVE MONTHS OF SERVICE AS A
CHILD CARE PROFESSIONAL IN A CHILD DAY CARE FACILITY LICENSED OR  REGIS-
TERED  PURSUANT TO THE SOCIAL SERVICES LAW OR THE ADMINISTRATIVE CODE OF
THE CITY OF NEW YORK AND SUCH AWARDS SHALL NOT EXCEED AN AMOUNT OF TWEN-
TY-FIVE THOUSAND DOLLARS AND SHALL BE MADE TO SUCH APPLICANTS,  PURSUANT
TO THE FOLLOWING SCHEDULE:
  (I)  TWENTY  PERCENT  TO  BE  AWARDED UPON THE COMPLETION OF THE FIRST
YEAR;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01490-01-3
              

A. 405                              2

  (II) THIRTY PERCENT TO BE AWARDED UPON THE COMPLETION  OF  THE  SECOND
YEAR; AND
  (III)  FIFTY  PERCENT  TO  BE AWARDED UPON THE COMPLETION OF THE THIRD
YEAR.
  (3) RECIPIENTS OF SUCH AWARDS SHALL BE ELIGIBLE  TO  APPLY  FOR  OTHER
AWARDS ESTABLISHED UNDER THIS CHAPTER.
  C.  DURATION.  SUCH  AWARDS  SHALL  BE MADE ANNUALLY, FOR NO MORE THAN
THREE YEARS, TO APPLICANTS WHO REMAIN ELIGIBLE  UNDER  THIS  SUBDIVISION
AND WHO ARE CERTIFIED AS SUCH BY THE CORPORATION.
  D.  AMOUNT. THE CORPORATION SHALL GRANT SUCH AWARDS WITHIN THE AMOUNTS
APPROPRIATED FOR SUCH PURPOSE AND BASED ON THE AVAILABILITY OF FUNDS  IN
AN  AMOUNT NOT TO EXCEED THE TOTAL COST OF THE COMPLETION OF SUCH DEGREE
PROGRAMS. COST OF COMPLETION OF SUCH DEGREES SHALL INCLUDE:  TUITION  AT
AN INSTITUTION OF HIGHER EDUCATION APPROVED OR REGISTERED BY THE REGENTS
AND OTHER REQUIRED OR REASONABLE STUDENT FEES.
  S 2. This act shall take effect immediately.