S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9077
 
                           I N  A S S E M B L Y
 
                             February 6, 2024
                                ___________
 
 Introduced  by M. of A. SOLAGES -- read once and referred to the Commit-
   tee on Higher Education
 
 AN ACT to amend the education law, in relation to  establishing  a  loan
   forgiveness program for child care providers
 
   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.  THE  NEW  YORK  STATE  CHILD CARE PROVIDER LOAN FORGIVENESS
 PROGRAM.  1. PURPOSE. THE PRESIDENT SHALL GRANT STUDENT LOAN FORGIVENESS
 AWARDS FOR THE PURPOSE OF INCREASING THE NUMBER OF CHILD CARE PROVIDERS,
 AS DEFINED IN SECTION SIX HUNDRED NINETY-FIVE-B OF THE LABOR LAW,  SERV-
 ING  IN  THE STATE. 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.
   2. ELIGIBILITY. TO BE ELIGIBLE FOR AN AWARD PURSUANT TO THIS  SUBDIVI-
 SION, APPLICANTS SHALL:
   (A)  HAVE  GRADUATED  AND OBTAINED AN UNDERGRADUATE OR GRADUATE DEGREE
 FROM AN ACCREDITED TWO OR FOUR-YEAR COLLEGE OR UNIVERSITY LOCATED IN NEW
 YORK STATE;
   (B) HAVE OUTSTANDING STUDENT LOAN DEBT FROM OBTAINING SUCH DEGREE;
   (C) COMPLY WITH SUBDIVISION FIVE OF SECTION SIX HUNDRED  SIXTY-ONE  OF
 THIS PART; AND
   (D) BE EMPLOYED FULL TIME IN THIS STATE AS A CHILD CARE PROVIDER.
   3.  AWARDS.  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 FOUR 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 FORTY THOUSAND DOLLARS UPON THE END OF A FOUR-YEAR PERIOD.
   4.  RULES AND REGULATIONS. THE CORPORATION IS AUTHORIZED TO PROMULGATE
 RULES AND REGULATIONS AND MAY PROMULGATE EMERGENCY REGULATIONS NECESSARY
 FOR THE IMPLEMENTATION OF THE PROVISIONS OF THIS SECTION.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD08148-01-3