Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to higher education |
Feb 09, 2023 |
referred to higher education |
Senate Bill S4499
2023-2024 Legislative Session
Sponsored By
(D) 10th Senate District
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
Actions
2023-S4499 (ACTIVE) - Details
- Current Committee:
- Senate Higher Education
- Law Section:
- Education Law
- Laws Affected:
- Add §679-k, Ed L
- Versions Introduced in Other Legislative Sessions:
-
2015-2016:
S6646
2017-2018: S4674
2019-2020: S2471
2021-2022: S3414
2023-S4499 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4499 SPONSOR: SANDERS TITLE OF BILL: An act to amend the education law, in relation to establishing the New York state employee loan forgiveness program PURPOSE: To establish the New York State Employee Loan Forgiveness program to retain individuals serving as employees of a state employer. SUMMARY OF PROVISIONS: Section 1 of the bill would amend the education law by adding a new section 679-h. Section 679h shall allow the commissioner of education to grant loan forgiveness awards to state employees who have a minimum of five (5) years of qualified service and have outstanding student loan debt. Not eligible are elected officials, judges or justices appointed to or serving in court of record. The awards may be granted in amounts ranging from $5,000 not to exceed $10,000. Awards will be based on
2023-S4499 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4499 2023-2024 Regular Sessions I N S E N A T E February 9, 2023 ___________ 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. LBD09032-01-3 S. 4499 2
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