Bill Text: NY A02907 | 2019-2020 | General Assembly | Amended
Bill Title: Creates the child care professionals loan forgiveness incentive program for applicants who agree to engage in employment in the child care field; establishes the eligibility for such awards; establishes the amount and duration of such awards.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2020-01-08 - referred to higher education [A02907 Detail]
Download: New_York-2019-A02907-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2907--A 2019-2020 Regular Sessions IN ASSEMBLY January 28, 2019 ___________ Introduced by M. of A. MAGNARELLI, LIFTON, PERRY -- Multi-Sponsored by -- M. of A. ABBATE, COLTON, GOTTFRIED, JAFFEE, LUPARDO, PEOPLES-STOKES -- read once and referred to the Committee on Higher Education -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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: 1 Section 1. Section 605 of the education law is amended by adding a new 2 subdivision 13 to read as follows: 3 13. New York state child care professionals loan forgiveness incentive 4 program. a. Purpose. The president shall grant student loan forgiveness 5 awards for the purpose of increasing the number of child care profes- 6 sionals employed in New York state. Such awards shall be made on a 7 competitive basis to applicants who have graduated from an institution 8 of higher education approved or registered by the regents. 9 b. Eligibility. (1) To be eligible to receive an award pursuant to 10 this subdivision, an applicant must be a resident of New York state who 11 has graduated from an institution of higher education and has an 12 outstanding student loan debt. 13 (2) Such awards shall be made annually to eligible applicants who, 14 prior to accepting such awards, engaged in twelve months of service as a 15 child care professional in a child day care facility licensed or regis- 16 tered pursuant to the social services law or the administrative code of 17 the city of New York and such awards shall not exceed an amount of twen- 18 ty-five thousand dollars and shall be made to such applicants, pursuant 19 to the following schedule: 20 (i) twenty percent to be awarded upon the completion of the first 21 year; EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00834-03-9A. 2907--A 2 1 (ii) twenty percent to be awarded upon the completion of the second 2 year; 3 (iii) twenty percent to be awarded upon the completion of the third 4 year; 5 (iv) twenty percent to be awarded upon the completion of the fourth 6 year; and 7 (v) twenty percent to be awarded upon the completion of the fifth 8 year. 9 (3) Recipients of such awards shall be eligible to apply for other 10 awards established under this chapter. 11 c. Duration. Such awards shall be made annually, for no more than five 12 years, to applicants who remain eligible under this subdivision and who 13 are certified as such by the corporation. 14 d. Amount. The corporation shall grant such awards within the amounts 15 appropriated for such purpose and based on the availability of funds in 16 an amount not to exceed the total cost of the completion of such degree 17 programs. Cost of completion of such degrees shall include: tuition at 18 an institution of higher education approved or registered by the regents 19 and other required or reasonable student fees. 20 § 2. This act shall take effect immediately.