senate Bill S6879

2013-2014 Legislative Session

Relates to the New York state young farmers loan forgiveness incentive program

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Higher Education Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 25, 2014 referred to higher education

Co-Sponsors

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S6879 - Details

See Assembly Version of this Bill:
A9287
Law Section:
Education Law
Laws Affected:
Add ยง679-f, Ed L

S6879 - Summary

Relates to the New York state young farmers loan forgiveness incentive program.

S6879 - Sponsor Memo

S6879 - Bill Text download pdf

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

                                  6879

                            I N  S E N A T E

                             March 25, 2014
                               ___________

Introduced  by Sens. RITCHIE, BALL, BONACIC, DeFRANCISCO, FARLEY, GALLI-
  VAN, GRIFFO, GRISANTI, LARKIN,  LAVALLE,  LIBOUS,  LITTLE,  MARCHIONE,
  MAZIARZ, NOZZOLIO, O'MARA, RANZENHOFER, ROBACH, SEWARD, VALESKY, YOUNG
  -- read twice and ordered printed, and when printed to be committed to
  the Committee on Higher Education

AN  ACT  to amend the education law, in relation to establishing 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. The education law is amended by adding a new section 679-f
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 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; 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
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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13526-03-4

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