Senate Bill S2481

2019-2020 Legislative Session

Relates to establishing the New York state loan redemption program for certain public school teachers

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Higher Education 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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2019-S2481 (ACTIVE) - Details

See Assembly Version of this Bill:
A3073
Current Committee:
Senate Higher Education
Law Section:
Education Law
Laws Affected:
Add §679-k, Ed L
Versions Introduced in Other Legislative Sessions:
2015-2016: S6647, A9417
2017-2018: S4671, A955
2021-2022: S3922, A2164
2023-2024: S4157, A3337

2019-S2481 (ACTIVE) - Summary

Relates to establishing the New York state loan redemption program for certain public school teachers.

2019-S2481 (ACTIVE) - Sponsor Memo

2019-S2481 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2481
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2019
                                ___________
 
 Introduced  by  Sen. SANDERS -- 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 loan redemption program for certain public school teachers
 
   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 LOAN REDEMPTION PROGRAM FOR CERTAIN PUBLIC
 SCHOOL TEACHERS. 1.  FOR THE PURPOSES OF  THIS  SECTION,  THE  FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "ELIGIBLE  STUDENT  LOAN EXPENSES" MEANS NINE THOUSAND DOLLARS OR
 THE OUTSTANDING BALANCE OF THE PRINCIPAL AND  INTEREST  DUE  ON  STUDENT
 LOANS,  WHICHEVER  IS  LESS,  USED TO COVER THE COST OF ATTENDANCE WHILE
 ENROLLED IN AN UNDERGRADUATE OR GRADUATE DEGREE PROGRAM AT  AN  INSTITU-
 TION OF HIGHER EDUCATION.
   (B)  "PROGRAM  PARTICIPANT" MEANS A PERSON WHO IS INITIALLY HIRED BY A
 SCHOOL DISTRICT FOLLOWING THE EFFECTIVE DATE OF  THIS  SECTION  AND  WHO
 MEETS  THE CRITERIA OF PARAGRAPH (A) OF SUBDIVISION TWO OF THIS SECTION,
 AND WHO HAS EXECUTED A CONTRACT WITH THE CORPORATION  FOR  PARTICIPATION
 IN  THE  LOAN REDEMPTION PROGRAM. A PROGRAM PARTICIPANT SHALL BE A RESI-
 DENT OF NEW YORK STATE.
   (C) "PUBLIC SCHOOL" MEANS A SCHOOL LOCATED IN NEW YORK, UNDER COLLEGI-
 ATE GRADE, WHICH IS OPERATED BY A SCHOOL DISTRICT OR  A  CHARTER  SCHOOL
 ESTABLISHED PURSUANT TO ARTICLE FIFTY-SIX OF THIS CHAPTER.
   (D)  "SCHOOL  DISTRICT"  MEANS  A COMMON, UNION FREE, CENTRAL, CENTRAL
 HIGH SCHOOL OR CITY SCHOOL DISTRICT.
   2. (A) THERE IS ESTABLISHED  IN  THE  CORPORATION  A  LOAN  REDEMPTION
 PROGRAM FOR PUBLIC SCHOOL TEACHERS WHO MEET THE FOLLOWING CRITERIA:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04436-01-9

              

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