Bill Text: NY A09417 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 9417 (Prior Session Legislation)

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