Bill Text: NY A08101 | 2019-2020 | General Assembly | Introduced


Bill Title: Relates to eligibility under the New York state young farmers loan forgiveness incentive program; expands program to farmers who have produced agricultural products for no more than ten years.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2020-01-08 - referred to higher education [A08101 Detail]

Download: New_York-2019-A08101-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          8101

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                      June 3, 2019
                                       ___________

        Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
          tee on Higher Education

        AN ACT to amend the education law, in relation to eligibility and awards
          for the New  York  state  young  farmers  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 679-f of the education law, as added by  section  1
     2  of  part  Y  of  chapter  56  of the laws of 2014, is amended to read as
     3  follows:
     4    § 679-f. New York  state  young  farmers  loan  forgiveness  incentive
     5  program.  1. Purpose. The president shall grant student loan forgiveness
     6  awards for the purpose of alleviating the burden of  student  loan  debt
     7  for  young farmers. 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.  Such
    10  rules  and regulations shall include provisions for the consideration of
    11  applicants who are economically disadvantaged.
    12    2. Eligibility. To be eligible for an award pursuant to this  section,
    13  applicants  shall:  (a)  have  graduated  and  obtained a degree from an
    14  approved New York state college or university; (b) have  an  outstanding
    15  student  loan debt from obtaining such degree; (c) operate a farm in New
    16  York state on a full-time basis; (d) agree to operate such farm for  the
    17  duration  of no less than five years; (e) [apply for this program within
    18  two years of college graduation] have produced an "agricultural product"
    19  as defined by section three hundred twenty-eight of the agriculture  and
    20  markets law, for no more than ten consecutive years; and (f) comply with
    21  subdivisions  three  and  five  of section six hundred sixty-one of this
    22  part.
    23    3. Awards. No greater than ten awards shall be  granted  to  qualified
    24  applicants  in  the  amount  of up to ten thousand dollars per year, per

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11672-01-9

        A. 8101                             2

     1  applicant, not to exceed a duration of five years and not to exceed  the
     2  total  amount  of  such  applicant's  student loan debt. The corporation
     3  shall grant such awards within amounts appropriated  for  such  purposes
     4  and  based  on the availability of funds. No one applicant shall receive
     5  more than a total of fifty thousand dollars upon the end of a five  year
     6  period.
     7    4.  Priority.  First  priority  shall  be  given to applicants who are
     8  completing the second, third, fourth or fifth  year  of  full-time  farm
     9  operation  and  are  re-applying to receive an award under this program.
    10  Second priority shall be given  to  an  applicant  who  can  demonstrate
    11  economic  need  but  did  not receive an award during [the first year of
    12  this program's operation] a previous  application  period.    If  larger
    13  numbers  of  applicants  are  eligible pursuant to this subdivision than
    14  funds available, applicants shall be chosen pursuant to rules and  regu-
    15  lations  promulgated  by the corporation.   Provided, however, that each
    16  applicant chosen shall receive an award of up to ten thousand dollars in
    17  each year such applicant is accepted into the program.
    18    § 2. This act shall take effect on the ninetieth day  after  it  shall
    19  have become a law.
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