S T A T E   O F   N E W   Y O R K
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                                  1715

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 12, 2015
                               ___________

Introduced  by  M.  of  A.  MAGNARELLI,  CLARK, WRIGHT, LIFTON, PERRY --
  Multi-Sponsored by -- M.  of A. ABBATE,  COLTON,  GOTTFRIED,  HEASTIE,
  JAFFEE, LUPARDO, PEOPLES-STOKES, ROBINSON -- 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;
  (II) THIRTY PERCENT TO BE AWARDED UPON THE COMPLETION  OF  THE  SECOND
YEAR; AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01419-01-5
              

A. 1715                             2

  (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.