Senate Bill S3414

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3414
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 29, 2021
                                ___________
 
 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 employee loan forgiveness 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-k
 to read as follows:
   §  679-K.  NEW  YORK  STATE  EMPLOYEE  LOAN  FORGIVENESS  PROGRAM.  1.
 PURPOSE. THE COMMISSIONER SHALL GRANT STUDENT  LOAN  FORGIVENESS  AWARDS
 FOR THE PURPOSE OF RETAINING INDIVIDUALS SERVING AS EMPLOYEES OF A STATE
 EMPLOYER.
   2.  DEFINITIONS.  (A) "STATE EMPLOYER" MEANS: (1) THE EXECUTIVE BRANCH
 OF THE STATE, (2) A COOPERATIVE EXTENSION  ASSOCIATION  ("ASSOCIATION"),
 (3)  THE UNIFIED COURT SYSTEM, (4) THE SENATE, (5) THE ASSEMBLY, AND (6)
 JOINT LEGISLATIVE EMPLOYERS.
   (B) "STUDENT  LOAN  DEBT"  MEANS  THE  TOTAL  ANNUAL  LOAN  REPAYMENTS
 REQUIRED  TO BE MADE BY THE ELIGIBLE EMPLOYEE ON THE CUMULATIVE TOTAL OF
 THE EMPLOYEE'S OUTSTANDING STUDENT LOANS COVERING THE COST OF ATTENDANCE
 AT AN UNDERGRADUATE INSTITUTION AND/OR GRADUATE SCHOOL. INTEREST PAID OR
 DUE ON SUCH LOANS SHALL BE CONSIDERED ELIGIBLE FOR  REIMBURSEMENT  UNDER
 THIS  PROGRAM.  FOR  PURPOSES  OF  THIS  CALCULATION,  THE AMOUNT OF THE
 STUDENT LOAN EXPENSE SHALL BE REDUCED BY ANY GRANTS,  LOAN  FORGIVENESS,
 OR  SIMILAR REDUCTIONS TO THE EMPLOYEE'S INDEBTEDNESS THAT HE OR SHE HAS
 RECEIVED OR SHALL RECEIVE.
   (C) "YEAR OF QUALIFIED SERVICE" MEANS THE TWELVE-MONTH PERIOD MEASURED
 FROM THE ANNIVERSARY OF  THE  INDIVIDUAL'S  EMPLOYMENT  WITH  THE  STATE
 EMPLOYER AND ADJUSTED FOR ANY INTERRUPTION IN EMPLOYMENT.
   3.  ELIGIBILITY.  (A)  TO  BE  ELIGIBLE  FOR AN AWARD PURSUANT TO THIS
 SUBDIVISION, APPLICANTS SHALL: (1) BE EMPLOYED BY A STATE EMPLOYER;  (2)
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05129-01-1
              

 S. 3414                             2
 
 FOR FIVE OR MORE YEARS OF QUALIFIED SERVICE; AND (3) HAVE AN OUTSTANDING
 STUDENT LOAN DEBT.
   (B)  INDIVIDUALS  EMPLOYED  BY  A  STATE EMPLOYER WHO ARE NOT ELIGIBLE
 INCLUDE:
   (1) ELECTED OFFICIALS, JUDGES OR JUSTICES APPOINTED TO OR  SERVING  IN
 COURT OF RECORD;
   (2)  OFFICERS  DESCRIBED  IN  SECTIONS  FOUR,  FORTY-ONE-A, FORTY-SIX,
 SIXTY-ONE, SEVENTY, SEVENTY-A, ONE HUNDRED SIXTY-NINE  (INCLUDING  THOSE
 OFFICERS  WHOSE  SALARY  IS  ESTABLISHED  PURSUANT TO SALARY PLANS UNDER
 SUBDIVISION THREE  OF  SECTION  ONE  HUNDRED  SIXTY-NINE),  SECTION  ONE
 HUNDRED EIGHTY AND SUBDIVISION ONE OF SECTION FORTY-ONE OF THE EXECUTIVE
 LAW  AND  ANY AGENCY OR DEPARTMENT HEAD APPOINTED BY THE GOVERNOR, COMP-
 TROLLER OR ATTORNEY GENERAL; AND
   (3) APPOINTED MEMBERS OF BOARDS OR COMMISSIONS ANY  OF  WHOSE  MEMBERS
 ARE APPOINTED BY THE GOVERNOR OR BY ANOTHER STATE OFFICER OR BODY.
   4.  AWARDS.  THE COMMISSIONER SHALL GRANT AWARDS IN THE AMOUNT OF FIVE
 THOUSAND DOLLARS TO INDIVIDUALS WHO ARE ELIGIBLE, PURSUANT  TO  SUBDIVI-
 SION  TWO  OF  THIS  SECTION,  IN  THE  YEAR  PRIOR TO SUCH APPLICATION,
 PROVIDED THAT NO RECIPIENT SHALL RECEIVE AN AWARD THAT EXCEEDS THE TOTAL
 REMAINING BALANCE OF THE STUDENT LOAN DEBT AND THAT NO  RECIPIENT  SHALL
 RECEIVE  CUMULATIVE  AWARDS,  PURSUANT TO THIS SECTION, IN EXCESS OF TEN
 THOUSAND DOLLARS. AWARDS SHALL BE WITHIN THE  AMOUNTS  APPROPRIATED  FOR
 SUCH PURPOSE AND BASED ON AVAILABILITY OF FUNDS.
   5. RULES AND REGULATIONS. THE COMMISSIONER IS AUTHORIZED TO PROMULGATE
 RULES AND REGULATIONS NECESSARY FOR THE IMPLEMENTATION OF THE PROVISIONS
 OF THIS SECTION.
   § 2. This act shall take effect April 1, 2022.