Senate Bill S719

                                
 
BILL NUMBER: S719

SPONSOR: HOYLMAN
 
TITLE OF BILL:

An act to amend the judiciary law, in relation to waiving the biennial
attorney registration fee for New York attorneys who meet the federal
public service loan forgiveness program employment qualifications

 
PURPOSE:

Waives the biennial registration fee for New York attorneys who meet the
federal public service loan forgiveness program employment qualifica-
tions

 
SUMMARY OF PROVISIONS:

Section 1 amends Section 468-a of the Judiciary Law, to allow New York
attorneys who meet the employment requirements for participation in the
federal public service loan forgiveness program, as set forth by 20
U.S.C. 1087e(m), to similarly be eligible for a waiver of the biennial
              

attorney registration fee collected by the New York Office of Court
Administration.

Section 2 sets forth the effective date of this legislation.

 
JUSTIFICATION:

As the nation's student debt crisis has continued to balloon in recent
years, law school graduates have been especially crippled by the cost of
their education. In 2015, The New York Times reported that the average
student loan debt carried by an American law school graduate was approx-
imately $140,000. This is in stark contrast to the average student loan
debt of $37,712 carried by students receiving an undergraduate degree in
2016.

Recognizing that massive student loan debt brings a negative impact upon
the nation's economy, often disenabling professionals from making 'big
ticket' purchases for up to thirty years in their futures, the federal
government implemented several reforms related to the repayment of
student loan debt. These included the establishment of the income-based
repayment programs, as well as the Public Service Loan Forgiveness
Program (PSLFP), now codified at 20 U.S.C. 1087e(m). Graduates who are
employed full-time by government organizations and most 501(c)(3)
nonprofit groups are eligible for participation in the PSLFP, which
forgives the balance of a graduate's student loan debt after making ten
years of payments on student loans, while employed by such an organiza-
tion. The PSLFP seeks to incentivize students to work in government
and/or non-profit positions where employers typically cannot afford the
salaries that can be earned in the private sector.

Building upon this theme, this legislation seeks to was the biennial
attorney registration fee for New York attorneys who also qualify for
participation in the PSLFP. This fee, currently pegged at $375 every two
years, comes in addition to costly aspects of maintaining one's bar
license; including fees associated with mandatory continued legal educa-
tion and an attorney's admission to practice before federal courts. As
the State of New York and other organizations necessarily seek out the
best and brightest attorneys to work on behalf.of the People, this
legislation takes an important step toward incentivizing lawyers to
accept positions in public service.

 
PRIOR LEGISLATIVE HISTORY:

S.3819-A of 2019-2020 (Hoylman): Died in Judiciary
A.6085-A of 2019-2020 (Dinowitz): Died in Judiciary
S.0987 of 2018 (Peralta): Died in Judiciary
S.0987 of 2017 (Peralta): Died in Finance

 
FISCAL IMPACT:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect on the ninetieth day after it shall have
become a law; provided, however that effective immediately, the addi-
tion, amendment and/or repeal of the rules or regulations necessary for
the implementation of the foregoing provisions of this act on its effec-
tive date are authorized and directed to be made and completed on or
before such effective date.