What's happening
This bill expands the New York State young farmers loan forgiveness program by increasing award numbers, eligibility, and duration.
Why it matters
Expands who can apply. Now both undergraduate and graduate degree holders from New York State colleges/universities are eligible, opening the program to more types of young farmers with different educational backgrounds.
Doubles award opportunities. The number of annual loan forgiveness awards jumps from 10 to 20, increasing the chances for new and beginning farmers to receive crucial student debt relief.
Extends support period and funding. The maximum duration for receiving awards increases from 5 to 6 years, and the total possible grant per applicant rises from $50,000 to $60,000, offering longer and more substantial financial support.
Targets retention and need. The bill continues to prioritize farmers who are renewing their participation and those with economic need, which may help with retaining new farmers in the state and supporting those facing the greatest financial barriers.
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Who cares
Headline styles
Help More Young Farmers
Plain English, a few words. Used as the page title.
Sponsors
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.
Expand Young Farmer Loan Help
In Assembly Committee · Higher Education · Sponsor Fred Thiele
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.
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 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 career in fanning 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 S.6848/A.9368.
Fiscal implications
TBD.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.