S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7301
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 19, 2023
                                ___________
 
 Introduced  by Sen. SCARCELLA-SPANTON -- 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 veteran student 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 VETERAN STUDENT LOAN FORGIVENESS PROGRAM. 1.
 DEFINITION. FOR THE PURPOSES OF  THIS  SECTION,  "VETERAN"  SHALL  BE  A
 MEMBER  OF  THE  ARMED  FORCES  OF  THE UNITED STATES WHO SERVED AND WAS
 HONORABLY DISCHARGED OR RELEASED UNDER CONDITIONS OTHER  THAN  DISHONOR-
 ABLE  FROM  SUCH SERVICE, AND PRESENTS AN AUTHORIZED VETERAN IDENTIFICA-
 TION CARD, AND WHO IS A RESIDENT OF THE STATE OF NEW YORK.
   2. PURPOSE. THE PRESIDENT SHALL GRANT STUDENT LOAN FORGIVENESS  AWARDS
 FOR  THE  PURPOSE  OF  ALLEVIATING  THE  BURDEN OF STUDENT LOAN DEBT FOR
 VETERANS.  SUCH AWARDS SHALL BE MADE ON A COMPETITIVE BASIS, IN  ACCORD-
 ANCE  WITH  RULES  AND  REGULATIONS  PROMULGATED  BY  THE CORPORATION IN
 CONSULTATION WITH THE DIVISION OF MILITARY AND NAVAL AFFAIRS,  FOR  SUCH
 PURPOSES,  TO  APPLICANTS  WHO MEET THE ELIGIBILITY CRITERIA. SUCH RULES
 AND REGULATIONS SHALL INCLUDE PROVISIONS FOR THE CONSIDERATION OF APPLI-
 CANTS WHO ARE ECONOMICALLY DISADVANTAGED.
   3. 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) BE EMPLOYED FULL-TIME
 IN NEW YORK STATE AT THE TIME OF APPLICATION; (D) AGREE TO RESIDE IN NEW
 YORK STATE FOR NO LESS THAN FIVE YEARS; (E) NOT RECEIVE OR HAVE RECEIVED
 STUDENT LOAN FORGIVENESS OR DISCHARGE FROM THE FEDERAL  GOVERNMENT;  AND
 (F)  COMPLY  WITH  SUBDIVISION  FIVE OF SECTION SIX HUNDRED SIXTY-ONE OF
 THIS PART.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11566-01-3
              

 S. 7301                             2
 
   4. 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 FIVE 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 FIFTY THOUSAND DOLLARS UPON THE END OF A FIVE-YEAR PERIOD.
   5.  PRIORITY.  FIRST  PRIORITY  SHALL  BE GIVEN TO APPLICANTS WHO HAVE
 RECEIVED PAYMENT OF AN AWARD PURSUANT TO THIS SECTION IN  A  PRIOR  YEAR
 AND  REMAIN ELIGIBLE. SECOND PRIORITY SHALL BE GIVEN TO AN APPLICANT WHO
 CAN DEMONSTRATE ECONOMIC NEED AND APPLICANTS HAVING BEEN AWARDED A DISA-
 BILITY RATING OF FORTY PERCENT OR HIGHER FROM THE FEDERAL DEPARTMENT  OF
 VETERAN'S AFFAIRS OR FROM THE UNITED STATES DEPARTMENT OF DEFENSE, WHERE
 THAT DISABILITY WAS INCURRED IN THE LINE OF DUTY IN THE ACTIVE MILITARY,
 NAVAL  OR  AIR  SERVICE,  AS  DOCUMENTED  BY  THE CORPORATION. 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 THOUSAND DOLLARS IN
 EACH YEAR SUCH APPLICANT IS ACCEPTED INTO THE PROGRAM.
   6.  RULES AND REGULATIONS. THE CORPORATION IS AUTHORIZED TO PROMULGATE
 RULES AND REGULATIONS, AND MAY PROMULGATE EMERGENCY REGULATIONS,  NECES-
 SARY FOR THE IMPLEMENTATION OF THE PROVISIONS OF THIS SECTION.
   §  2.  This  act shall take effect on the ninetieth day after it shall
 have become a law.