Bill Text: NY A09417 | 2015-2016 | General Assembly | Introduced
Bill Title: Relates to establishing the New York state loan redemption program for certain public school teachers.
Spectrum: Moderate Partisan Bill (Democrat 7-1)
Status: (Introduced - Dead) 2016-03-03 - referred to higher education [A09417 Detail]
Download: New_York-2015-A09417-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9417 IN ASSEMBLY March 3, 2016 ___________ Introduced by M. of A. RICHARDSON -- read once and referred to the Committee on Higher Education AN ACT to amend the education law, in relation to establishing the New York state loan redemption program for certain public school teachers 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-h 2 to read as follows: 3 § 679-h. New York state loan redemption program for certain public 4 school teachers. 1. For the purposes of this section, the following 5 terms shall have the following meanings: 6 (a) "Eligible student loan expenses" means nine thousand dollars or 7 the outstanding balance of the principal and interest due on student 8 loans, whichever is less, used to cover the cost of attendance while 9 enrolled in an undergraduate or graduate degree program at an institu- 10 tion of higher education. 11 (b) "Program participant" means a person who is initially hired by a 12 school district following the effective date of this section and who 13 meets the criteria of paragraph (a) of subdivision two of this section, 14 and who has executed a contract with the corporation for participation 15 in the loan redemption program. A program participant shall be a resi- 16 dent of New York state. 17 (c) "Public school" means a school located in New York, under collegi- 18 ate grade, which is operated by a school district or a charter school 19 established pursuant to article fifty-six of this chapter. 20 (d) "School district" means a common, union free, central, central 21 high school or city school district. 22 2. (a) There is established in the corporation a loan redemption 23 program for public school teachers who meet the following criteria: 24 (i) graduated in the top twenty percent of the student's high school 25 graduating class or scored in the top twenty percent on the Scholastic 26 Assessment Test (SAT) or the American College Testing (ACT) examination; 27 (ii) graduated from an institution of higher education with a grade 28 point average of at least 3.5; and EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13443-01-5