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Sponsors
2 Co-sponsors
History
- Referred to higher education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Expands the eligibility and increases the number of awards for the New York state young farmers loan forgiveness incentive program
In Assembly Committee · Higher Education · Sponsor Fred Thiele
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to expanding the eligibility and increasing the number of awards for the New York state young farmers loan forgiveness incentive program
Purpose
To amend the education law, so as to expand the eligibility and increase the number of awards available through the New York State Young Farmers Loan Forgiveness Incentive Program for the purpose of student loan forgiveness and alleviating the burden of student debt on young farmers.
Summary of provisions
Section 1. Section 679-f of the education law is amended to expand the eligibility criteria and increase the number of awards that shall be granted from no more than ten to twenty. It further increases the duration of the award from five to six years.
Justification
The New York State Young Farmers Loan Forgiveness Incentive Program was established to encourage recent college graduates to pursue careers in farming in New York State. This program currently provides up to ten loan forgiveness awards annually to individuals who obtain an undergraduate degree from an approved New York State college or university and agree to operate a farm in New York State, on a full-time basis.
This legislation is necessary in order to encourage more recent graduates to pursue farming careers by also allowing loan forgiveness to individuals who obtain a graduate degree from an approved New York State college or university and increasing the number of allowable annual awards from ten to twenty.
Legislative history
2016: New Legislation
Fiscal implications
To be determined
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.