S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1539
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 11, 2021
                                ___________
 
 Introduced  by  M.  of  A.  LUPARDO,  BARRETT,  SCHMITT -- read once and
   referred to the Committee on Higher Education
 
 AN ACT to amend the education law, in relation to eligibility and 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:
   § 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 degree from an
 approved New York state college or university; (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] HAVE PRODUCED AN "AGRICULTURAL PRODUCT"
 AS DEFINED BY SECTION THREE HUNDRED TWENTY-EIGHT OF THE AGRICULTURE  AND
 MARKETS LAW, FOR NO MORE THAN TEN CONSECUTIVE YEARS; and (f) comply with
 subdivisions  three  and  five  of section six hundred sixty-one of this
 part.
   3. Awards. No greater than ten awards shall be  granted  to  qualified
 applicants  in  the  amount  of up to ten thousand dollars per year, per
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02880-01-1

 A. 1539                             2
 
 applicant, not to exceed a duration of five years and not to exceed  the
 total  amount  of  such  applicant's  student loan debt. The corporation
 shall grant such awards within amounts appropriated  for  such  purposes
 and  based  on the availability of funds. No one applicant shall receive
 more than a total of fifty thousand dollars upon the end of a five  year
 period.
   4.  Priority.  First  priority  shall  be  given to applicants who are
 completing the second, third, fourth or fifth  year  of  full-time  farm
 operation  and  are  re-applying to receive an award under this program.
 Second priority shall be given  to  an  applicant  who  can  demonstrate
 economic  need  but  did  not receive an award during [the first year of
 this program's operation] A PREVIOUS  APPLICATION  PERIOD.    If  larger
 numbers  of  applicants  are  eligible pursuant to this subdivision than
 funds available, applicants shall be chosen pursuant to rules and  regu-
 lations  promulgated  by the corporation.   Provided, however, that each
 applicant chosen shall receive an award of up to ten thousand dollars in
 each year such applicant is accepted into the program.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.