S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4082--A
     Cal. No. 279
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 2, 2021
                                ___________
 
 Introduced  by Sens. HINCHEY, BORRELLO, BRISPORT, COMRIE, HELMING, JACK-
   SON, KRUEGER, MAY -- read twice and ordered printed, and when  printed
   to be committed to the Committee on Higher Education -- recommitted to
   the  Committee  on  Higher Education in accordance with Senate Rule 6,
   sec. 8 -- reported favorably from said committee, ordered to first and
   second report,  ordered  to  a  third  reading,  amended  and  ordered
   reprinted, retaining its place in the order of third reading
 
 AN ACT to amend the education law, in relation to eligibility and 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  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] HAVE PRODUCED AN "AGRICULTURAL PRODUCT"
 AS  DEFINED BY SECTION THREE HUNDRED TWENTY-EIGHT OF THE AGRICULTURE AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02880-02-2
 S. 4082--A                          2
 
 MARKETS LAW, FOR NO MORE THAN TEN CONSECUTIVE YEARS; and (f) comply with
 subdivisions three and five of section six  hundred  sixty-one  of  this
 part.
   3.  Awards.  No greater than [ten] TWENTY-FIVE awards shall be granted
 to qualified applicants in the amount of up  to  [ten]  TWENTY  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 appropri-
 ated for such purposes and based on the availability of  funds.  No  one
 applicant  shall  receive more than a total of [fifty] ONE HUNDRED thou-
 sand dollars upon the end of a five 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]  A  PREVIOUS APPLICATION PERIOD.   If larger
 numbers of applicants are eligible pursuant  to  this  subdivision  than
 funds  available, applicants shall be chosen pursuant to rules and regu-
 lations promulgated by the corporation.   Provided, however,  that  each
 applicant  chosen  shall receive an award of up to [ten] TWENTY thousand
 dollars in each year such applicant is accepted into the program.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.