What's happening
This bill expands eligibility and increases the number and amount of student loan forgiveness awards for young farmers in New York.
Why it matters
Broader eligibility could attract more educated talent to New York farming. By allowing both undergraduate and graduate degree holders to qualify (instead of only undergraduates), the bill encourages a wider range of young professionals with diverse agricultural expertise to consider farming as a career in the state.
Doubling the number of awards expands support for new farmers. Increasing the maximum number of loan forgiveness recipients from 10 to 20 could help more young farmers manage student debt, making it more feasible for them to start and sustain farm operations.
Larger and longer-term financial relief may improve farm viability. Extending the program’s duration from 5 to 6 years and raising the potential total award from $50,000 to $60,000 per participant means young farmers can count on more substantial and sustained debt relief, potentially improving their financial stability during the critical early years of farm ownership.
Changes aim to address economic barriers and rural succession. By prioritizing economically disadvantaged applicants and making farming more financially accessible, the bill could help address generational turnover in agriculture, strengthen rural communities, and support the long-term sustainability of New York’s farming sector.
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Who cares
Headline styles
Expand Young Farmer Loan Relief
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 Aid
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. 3721 A. 5514
2019-2020 Regular Sessions
SENATE - ASSEMBLY
February 13, 2019
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.
LBD03209-01-9
S. 3721 2 A. 5514
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 eligi- bility 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 farming in New York State. This program currently provides up to ten loan forgiveness awards annually to individuals who obtain an undergrad- uate 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 gradu- ates 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
2017-18 S.3819/A.3148;
2016 S.6848/A.9368.
Fiscal implications
To be determined.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.