Assembly Bill A4830

2023-2024 Legislative Session

Relates to establishing the New York state diplomas to home ownership program; appropriation

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Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A4830 (ACTIVE) - Details

Current Committee:
Assembly Higher Education
Law Section:
Education Law
Laws Affected:
Add §679-k, Ed L; amd §2404, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2017-2018: A8680
2019-2020: A5017
2021-2022: A6413

2023-A4830 (ACTIVE) - Summary

Establishes the New York state diplomas to homeownership assistance program; provides awards of up to fifteen thousand dollars to eligible applicants for repayment on student loans; makes an appropriation therefor.

2023-A4830 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4830
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 23, 2023
                                ___________
 
 Introduced   by  M.  of  A.  BARCLAY,  McDONOUGH,  LEMONDES,  DeSTEFANO,
   J. M. GIGLIO -- Multi-Sponsored by -- M. of A. K. BROWN, MANKTELOW  --
   read once and referred to the Committee on Higher Education
 
 AN  ACT  to  amend  the education law and the public authorities law, in
   relation to establishing the New York state diplomas to home ownership
   program; and making an appropriation therefor
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The education law is amended by adding a new section 679-k
 to read as follows:
   § 679-K. NEW YORK STATE DIPLOMAS TO HOMEOWNERSHIP PROGRAM. 1.    DEFI-
 NITIONS.  (A)  "AWARD"  MEANS A NEW YORK STATE DIPLOMAS TO HOMEOWNERSHIP
 PROGRAM AWARD.
   (B) "QUALIFIED PROPERTY" MEANS AN APPROVED LAND BANK PROPERTY PURSUANT
 TO ARTICLE SIXTEEN OF THE NOT-FOR-PROFIT CORPORATION LAW.
   (C) "DELINQUENT" MEANS THE FAILURE TO PAY A REQUIRED SCHEDULED PAYMENT
 ON A FEDERAL STUDENT LOAN WITHIN THIRTY DAYS OF SUCH PAYMENT'S DUE DATE.
   (D) "PROGRAM" MEANS THE  NEW  YORK  STATE  DIPLOMAS  TO  HOMEOWNERSHIP
 PROGRAM.
   2.  ELIGIBILITY. TO BE ELIGIBLE FOR AN AWARD PURSUANT TO THIS SECTION,
 APPLICANTS SHALL:
   (A) HAVE GRADUATED FROM A HIGH SCHOOL LOCATED IN THE STATE OR ATTENDED
 AN APPROVED STATE PROGRAM FOR A STATE HIGH  SCHOOL  EQUIVALENCY  DIPLOMA
 AND  RECEIVED  SUCH  DIPLOMA.  AN  APPLICANT  WHO RECEIVED A HIGH SCHOOL
 DIPLOMA, OR ITS EQUIVALENT, FROM  ANOTHER  STATE  IS  INELIGIBLE  FOR  A
 PROGRAM AWARD;
   (B) HAVE GRADUATED AND OBTAINED AN UNDERGRADUATE DEGREE FROM A COLLEGE
 OR UNIVERSITY LOCATED IN NEW YORK STATE;
   (C) HAVE OUTSTANDING STUDENT LOAN DEBT FROM OBTAINING SUCH DEGREE;
   (D)  HAVE  NOT  PREVIOUSLY PURCHASED A HOME AT THE TIME OF APPLICATION
 FOR THE PROGRAM;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04886-01-3
              

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