Senate Bill S5722

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5722
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              March 15, 2023
                                ___________
 
 Introduced  by  Sen. KENNEDY -- 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  creating  the  child
   care professionals 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 605 of the education law is amended by adding a new
 subdivision 13 to read as follows:
   13. NEW YORK STATE CHILD CARE PROFESSIONALS LOAN FORGIVENESS INCENTIVE
 PROGRAM. A. PURPOSE.  THE PRESIDENT SHALL GRANT STUDENT LOAN FORGIVENESS
 AWARDS FOR THE PURPOSE OF INCREASING THE NUMBER OF  CHILD  CARE  PROFES-
 SIONALS  EMPLOYED  IN  NEW  YORK  STATE.  SUCH AWARDS SHALL BE MADE ON A
 COMPETITIVE BASIS TO APPLICANTS WHO HAVE GRADUATED FROM  AN  INSTITUTION
 OF HIGHER EDUCATION APPROVED OR REGISTERED BY THE REGENTS.
   B.  ELIGIBILITY.  (1)  TO  BE ELIGIBLE TO RECEIVE AN AWARD PURSUANT TO
 THIS SUBDIVISION, AN APPLICANT MUST BE A RESIDENT OF NEW YORK STATE  WHO
 HAS  GRADUATED  FROM  AN  INSTITUTION  OF  HIGHER  EDUCATION  AND HAS AN
 OUTSTANDING STUDENT LOAN DEBT.
   (2) SUCH AWARDS SHALL BE MADE ANNUALLY  TO  ELIGIBLE  APPLICANTS  WHO,
 PRIOR TO ACCEPTING SUCH AWARDS, ENGAGED IN TWELVE MONTHS OF SERVICE AS A
 CHILD  CARE PROFESSIONAL IN A CHILD DAY CARE FACILITY LICENSED OR REGIS-
 TERED PURSUANT TO THE SOCIAL SERVICES LAW OR THE ADMINISTRATIVE CODE  OF
 THE CITY OF NEW YORK AND SUCH AWARDS SHALL NOT EXCEED AN AMOUNT OF TWEN-
 TY-FIVE  THOUSAND DOLLARS AND SHALL BE MADE TO SUCH APPLICANTS, PURSUANT
 TO THE FOLLOWING SCHEDULE:
   (I) TWENTY PERCENT TO BE AWARDED UPON  THE  COMPLETION  OF  THE  FIRST
 YEAR;
   (II)  TWENTY  PERCENT  TO BE AWARDED UPON THE COMPLETION OF THE SECOND
 YEAR;
   (III) TWENTY PERCENT TO BE AWARDED UPON THE COMPLETION  OF  THE  THIRD
 YEAR;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00265-01-3
              

 S. 5722                             2
 
   (IV)  TWENTY  PERCENT  TO BE AWARDED UPON THE COMPLETION OF THE FOURTH
 YEAR; AND
   (V)  TWENTY  PERCENT  TO  BE  AWARDED UPON THE COMPLETION OF THE FIFTH
 YEAR.
   (3) RECIPIENTS OF SUCH AWARDS SHALL BE ELIGIBLE  TO  APPLY  FOR  OTHER
 AWARDS ESTABLISHED UNDER THIS CHAPTER.
   C. DURATION. SUCH AWARDS SHALL BE MADE ANNUALLY, FOR NO MORE THAN FIVE
 YEARS,  TO APPLICANTS WHO REMAIN ELIGIBLE UNDER THIS SUBDIVISION AND WHO
 ARE CERTIFIED AS SUCH BY THE CORPORATION.
   D. AMOUNT. THE CORPORATION SHALL GRANT SUCH AWARDS WITHIN THE  AMOUNTS
 APPROPRIATED  FOR SUCH PURPOSE AND BASED ON THE AVAILABILITY OF FUNDS IN
 AN AMOUNT NOT TO EXCEED THE TOTAL COST OF THE COMPLETION OF SUCH  DEGREE
 PROGRAMS.  COST  OF COMPLETION OF SUCH DEGREES SHALL INCLUDE: TUITION AT
 AN INSTITUTION OF HIGHER EDUCATION APPROVED OR REGISTERED BY THE REGENTS
 AND OTHER REQUIRED OR REASONABLE STUDENT FEES.
   § 2. This act shall take effect immediately.