Bill Text: NY S03214 | 2023-2024 | General Assembly | Introduced

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Bill Title: Establishes a loan forgiveness program for child care providers that have earned an undergraduate or graduate degree from a two or four year college or university in the state.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO HIGHER EDUCATION [S03214 Detail]

Download: New_York-2023-S03214-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3214

                               2023-2024 Regular Sessions

                    IN SENATE

                                    January 30, 2023
                                       ___________

        Introduced  by  Sen.  CLEARE -- 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  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:

     1    Section 1. The education law is amended by adding a new section  679-k
     2  to read as follows:
     3    §  679-k.  The  New  York  state  child care provider loan forgiveness
     4  program.  1. Purpose. The president shall grant student loan forgiveness
     5  awards for the purpose of increasing the number of child care providers,
     6  as defined in section six hundred ninety-five-b of the labor law,  serv-
     7  ing  in  the state. Such awards shall be made on a competitive basis, in
     8  accordance with rules and regulations promulgated by the corporation for
     9  such purposes, to applicants who meet the eligibility criteria.
    10    2. Eligibility. To be eligible for an award pursuant to this  subdivi-
    11  sion, applicants shall:
    12    (a)  have  graduated  and obtained an undergraduate or graduate degree
    13  from an accredited two or four-year college or university located in New
    14  York state;
    15    (b) have outstanding student loan debt from obtaining such degree;
    16    (c) comply with subdivision five of section six hundred  sixty-one  of
    17  this part; and
    18    (d) be employed full time in this state as a child care provider.
    19    3.  Awards.  Awards  shall  be  granted to qualified applicants in the
    20  amount of up to ten thousand dollars per year,  per  applicant,  not  to
    21  exceed  a  duration  of four years and not to exceed the total amount of
    22  such applicant's student loan debt. The  corporation  shall  grant  such
    23  awards  within  amounts  appropriated for such purposes and based on the
    24  availability of funds. No one applicant shall receive more than a  total
    25  of forty thousand dollars upon the end of a four-year period.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08148-01-3
        S. 3214                             2

     1    4.  Rules and regulations. The corporation is authorized to promulgate
     2  rules and regulations and may promulgate emergency regulations necessary
     3  for the implementation of the provisions of this section.
     4    § 2. This act shall take effect immediately.