New York A 241: Establishes the child care professionals loan forgiveness incentive program

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A00241 Summary:

BILL NOA00241 

&nbsp

SAME ASSAME AS S00164

&nbsp

SPONSORMagnarelli (MS)

&nbsp

COSPNSRButtenschon

&nbsp

MLTSPNSRColton, Lupardo, Peoples-Stokes

&nbsp

Amd §605, Ed L

&nbsp

Creates the child care professionals loan forgiveness incentive program for applicants who agree to engage in employment in the child care field; establishes the eligibility for such awards; establishes the amount and duration of such awards.

Go to top A00241 Actions:

BILL NOA00241 

&nbsp

01/08/2025referred to higher education

01/07/2026referred to higher education

Go to topA00241 Committee&nbspVotes:

Go to topA00241 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA00241 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 241

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. MAGNARELLI -- Multi-Sponsored by -- M. of A.
 COLTON, LUPARDO, PEOPLES-STOKES -- read once and referred to the
 Committee on Higher Education

 AN ACT to amend the education law, in relation to creating the child
 care professionals loan forgiveness incentive program

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 605 of the education law is amended by adding a new
 2 subdivision 13 to read as follows:
 3 13. New York state child care professionals loan forgiveness incentive
 4 program. a. Purpose. The president shall grant student loan forgiveness
 5 awards for the purpose of increasing the number of child care profes-
 6 sionals employed in New York state. Such awards shall be made on a
 7 competitive basis to applicants who have graduated from an institution
 8 of higher education approved or registered by the regents.
 9 b. Eligibility. (1) To be eligible to receive an award pursuant to
 10 this subdivision, an applicant must be a resident of New York state who
 11 has graduated from an institution of higher education and has an
 12 outstanding student loan debt.
 13 (2) Such awards shall be made annually to eligible applicants who,
 14 prior to accepting such awards, engaged in twelve months of service as a
 15 child care professional in a child day care facility licensed or regis-
 16 tered pursuant to the social services law or the administrative code of
 17 the city of New York and such awards shall not exceed an amount of twen-
 18 ty-five thousand dollars and shall be made to such applicants, pursuant
 19 to the following schedule:
 20 (i) twenty percent to be awarded upon the completion of the first
 21 year;
 22 (ii) twenty percent to be awarded upon the completion of the second
 23 year;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00676-01-5

 A. 241 2

 1 (iii) twenty percent to be awarded upon the completion of the third
 2 year;
 3 (iv) twenty percent to be awarded upon the completion of the fourth
 4 year; and
 5 (v) twenty percent to be awarded upon the completion of the fifth
 6 year.
 7 (3) Recipients of such awards shall be eligible to apply for other
 8 awards established under this chapter.
 9 c. Duration. Such awards shall be made annually, for no more than five
 10 years, to applicants who remain eligible under this subdivision and who
 11 are certified as such by the corporation.
 12 d. Amount. The corporation shall grant such awards within the amounts
 13 appropriated for such purpose and based on the availability of funds in
 14 an amount not to exceed the total cost of the completion of such degree
 15 programs. Cost of completion of such degrees shall include: tuition at
 16 an institution of higher education approved or registered by the regents
 17 and other required or reasonable student fees.
 18 § 2. This act shall take effect immediately.

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps