S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    186
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced  by  M.  of  A.  MAGNARELLI -- Multi-Sponsored by -- M. of A.
   COLTON, LUPARDO, PEOPLES-STOKES --  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) TWENTY PERCENT TO BE AWARDED UPON THE COMPLETION  OF  THE  SECOND
 YEAR;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD00265-01-3
 A. 186                              2
 
   (III)  TWENTY  PERCENT  TO BE AWARDED UPON THE COMPLETION OF THE THIRD
 YEAR;
   (IV)  TWENTY  PERCENT  TO BE AWARDED UPON THE COMPLETION OF THE FOURTH
 YEAR; AND
   (V) TWENTY PERCENT TO BE AWARDED UPON  THE  COMPLETION  OF  THE  FIFTH
 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 FIVE
 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.
   § 2. This act shall take effect immediately.