S T A T E   O F   N E W   Y O R K
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     S. 3721                                                  A. 5514
 
                        2019-2020 Regular Sessions
 
                       S E N A T E - A S S E M B L Y
 
                             February 13, 2019
                                ___________
 
 IN  SENATE  --  Introduced  by Sens. LAVALLE, GALLIVAN, RITCHIE, SERINO,
   SEWARD -- read twice and ordered  printed,  and  when  printed  to  be
   committed to the Committee on Higher Education
 
 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:
   §  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.

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

                                                            LBD03209-01-9

 S. 3721                             2                            A. 5514
 
   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
 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] SIXTY thousand dollars upon
 the end of a [five] SIX 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. If larger numbers of applicants are eligible pursu-
 ant to this subdivision than funds available, applicants shall be chosen
 pursuant to  rules  and  regulations  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 immediately.