Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Feb 29, 2016 |
referred to higher education |
Senate Bill S6848
2015-2016 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Higher Education Committee
- Introduced
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- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(R, C, IP) Senate District
(R, C, IP) Senate District
2015-S6848 (ACTIVE) - Details
2015-S6848 (ACTIVE) - Summary
Expands the eligibility and increases the number of awards for the New York state young farmers loan forgiveness incentive program to undergraduate and graduate degrees; increases the number of such awards from ten to twenty; increases the amount of such award from fifty to sixty thousand dollars upon the end of a six year, rather than five year, period.
2015-S6848 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6848 TITLE OF BILL : An act to amend the education law, in relation to expanding the eligibility and increasing the number of awards for the New York state young farmers loan forgiveness incentive program PURPOSE : To amend the education law, so as to expand the eligibility and increase the number of awards available through the New York State Young Farmers Loan Forgiveness Incentive Program for the purpose of student loan forgiveness and alleviating the burden of student debt on young farmers. SUMMARY OF PROVISIONS : Section 1. Section 679-f of the education law is amended to expand the eligibility criteria and increase the number of awards that shall be granted from no more than ten to twenty. It further increases the duration of the award from five to six years. JUSTIFICATION : The New York State Young Farmers Loan Forgiveness Incentive Program
2015-S6848 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 6848 A. 9368 S E N A T E - A S S E M B L Y February 29, 2016 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Higher Educa- tion IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Higher Education AN ACT to amend the education law, in relation to expanding the eligi- bility and increasing the number of awards for the New York state young farmers 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 679-f of the education law, as added by section 1 of part Y of chapter 56 of the laws of 2014, is amended to read as follows: S 679-f. New York state young farmers loan forgiveness incentive program. 1. Purpose. The president shall grant student loan forgiveness awards for the purpose of alleviating the burden of student loan debt for young farmers. Such awards shall be made on a competitive basis, in accordance with rules and regulations promulgated by the corporation for such purposes, to applicants who meet the eligibility criteria. Such rules and regulations shall include provisions for the consideration of applicants who are economically disadvantaged. 2. Eligibility. To be eligible for an award pursuant to this section, applicants shall: (a) have graduated and obtained [a] AN UNDERGRADUATE OR GRADUATE degree from an approved New York state college or universi- ty; (b) have an outstanding student loan debt from obtaining such degree; (c) operate a farm in New York state on a full-time basis; (d) agree to operate such farm for the duration of no less than five years; (e) apply for this program within two years of college graduation; and (f) comply with subdivisions three and five of section six hundred sixty-one of this part. 3. Awards. No greater than [ten] TWENTY awards shall be granted to qualified applicants in the amount of up to ten thousand dollars per year, per applicant, not to exceed a duration of [five] SIX years and EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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