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S05773 Summary:

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S05773 Committee Votes:

S05773 Floor Votes:

S05773 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5773
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                      May 14, 2019
                                       ___________
 
        Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Higher Education
 
        AN ACT to amend the education law, in relation to requirements  for  the
          New York state science, technology, engineering and mathematics incen-
          tive program

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 4 of section 669-e of  the  education  law,  as
     2  amended  by  section  1 of part BB of chapter 56 of the laws of 2018, is
     3  amended to read as follows:
     4    4. The corporation shall convert to a student loan the full amount  of
     5  the  award given pursuant to this section, plus interest, according to a
     6  schedule to be determined by the corporation if: (a) a  recipient  fails
     7  to  complete  an  approved undergraduate program in science, technology,
     8  engineering or mathematics or changes majors to a program of undergradu-
     9  ate study other than in science, technology, engineering or mathematics;
    10  or (b) upon completion of such undergraduate degree program a  recipient
    11  fails  to  either  (i)  complete  five  years  of continuous [full time]
    12  employment [in  the  science,  technology,  engineering  or  mathematics
    13  field] with a public or private entity located within New York state, or
    14  (ii) maintain residency in New York state for such period of employment;
    15  or  (c)  a recipient fails to respond to requests by the corporation for
    16  the status of his or her academic or professional  progress.  The  terms
    17  and conditions of this subdivision shall be deferred for individuals who
    18  graduate  with a degree in an approved undergraduate program in science,
    19  technology, engineering or mathematics and enroll on at  least  a  half-
    20  time  basis in a graduate or higher degree program or other professional
    21  licensure degree program until they are conferred a  degree,  and  shall
    22  also  be deferred for any interruption in undergraduate study or employ-
    23  ment as established by the rules and regulations of the corporation. The
    24  terms and conditions of this subdivision may  also  be  deferred  for  a
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11374-01-9
        S. 5773                             2
 
     1  grace  period,  to  be  established  by  the  corporation, following the
     2  completion of an approved undergraduate program in science,  technology,
     3  engineering or mathematics, a graduate or higher degree program or other
     4  professional  licensure  degree  program.  Any obligation to comply with
     5  such provisions as outlined in this section shall be cancelled upon  the
     6  death  of the recipient. Notwithstanding any provisions of this subdivi-
     7  sion to the contrary, the corporation is authorized to promulgate  rules
     8  and regulations to provide for the waiver or suspension of any financial
     9  obligation which would involve extreme hardship.
    10    § 2. This act shall take effect immediately.