What's happening
This bill expands eligibility and increases the number and duration of awards for the New York State young farmers loan forgiveness program.
Why it matters
Increases the program’s capacity. , doubling the number of annual awards from 10 to 20, which means more young farmers will have access to student loan debt relief and potentially encourages more young professionals to enter or remain in agriculture.
Expands educational eligibility. , allowing graduates with either undergraduate or graduate degrees (not just a bachelor’s) from New York State colleges and universities to qualify—opening the program to a broader pool of applicants, including those with advanced agricultural training or related fields.
Extends support duration and total benefits. , raising the maximum years a recipient can receive aid from 5 to 6, and the total possible debt forgiveness from $50,000 to $60,000 per individual, which can be especially significant for those with higher educational debt loads.
May enhance rural economic stability. , as the changes are likely to help more young farmers manage financial barriers, potentially strengthening the long-term viability of family farms and supporting agricultural communities in New York State.
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Expand Young Farmer Loan Help
Plain English, a few words. Used as the page title.
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History
- Referred to higher education
- 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.
Help More Young Farmers
In Senate Committee · Higher Education · Sponsor Kenneth P. LaValle
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
S. 3819 A. 3148
2017-2018 Regular Sessions
SENATE - ASSEMBLY
January 27, 2017
IN SENATE -- Introduced by Sens. LAVALLE, GALLIVAN, RITCHIE, SERINO, SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education
IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Higher Education
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
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 679-f of the education law, as added by section 1 of part Y of chapter 56 of the laws of 2014, is amended to read as follows:
§ 679-f. New York state young farmers loan forgiveness incentive program. 1. Purpose. The president shall grant student loan forgiveness awards for the purpose of alleviating the burden of student loan debt for young farmers. Such awards shall be made on a competitive basis, in accordance with rules and regulations promulgated by the corporation for such purposes, to applicants who meet the eligibility criteria. Such rules and regulations shall include provisions for the consideration of applicants who are economically disadvantaged.
2. Eligibility. To be eligible for an award pursuant to this section, applicants shall: (a) have graduated and obtained [a] an undergraduate or graduate degree from an approved New York state college or university; (b) have an outstanding student loan debt from obtaining such degree; (c) operate a farm in New York state on a full-time basis; (d) agree to operate such farm for the duration of no less than five years; (e) apply for this program within two years of college graduation; and (f) comply with subdivisions three and five of section six hundred sixty-one of this part.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04111-01-7
S. 3819 2 A. 3148
3. Awards. No greater than [ten] twenty awards shall be granted to qualified applicants in the amount of up to ten thousand dollars per year, per applicant, not to exceed a duration of [five] six years and not to exceed the total amount of such applicant's student loan debt. The corporation shall grant such awards within amounts appropriated for such purposes and based on the availability of funds. No one applicant shall receive more than a total of [fifty] sixty thousand dollars upon the end of a [five] six year period.
4. Priority. First priority shall be given to applicants who are completing the second, third, fourth or fifth year of full-time farm operation and are re-applying to receive an award under this program. Second priority shall be given to an applicant who can demonstrate economic need but did not receive an award during the first year of this program's operation. If larger numbers of applicants are eligible pursuant to this subdivision than funds available, applicants shall be chosen pursuant to rules and regulations promulgated by the corporation. Provided, however, that each applicant chosen shall receive an award of up to ten thousand dollars in each year such applicant is accepted into the program.
§ 2. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.