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NY S04082

Bill

Status

Passed

11/21/2022

Primary Sponsor

Michelle Hinchey

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Origin

Senate

2021-2022 General Assembly

AI Summary

  • Removes the two-year application deadline after college graduation and replaces it with a requirement that applicants have produced an "agricultural product" for no more than ten consecutive years.

  • Increases the maximum number of annual awards from ten to twenty-five awards per year.

  • Increases the maximum annual award amount from ten thousand dollars to twenty thousand dollars per applicant.

  • Increases the total maximum award over a five-year period from fifty thousand dollars to one hundred thousand dollars per applicant.

  • Modifies priority criteria to give second priority to applicants who can demonstrate economic need and did not receive an award during a previous application period, instead of specifically referencing the first year of program operation.

Legislative Description

Relates to eligibility under the New York state young farmers loan forgiveness incentive program; expands program to farmers who have produced agricultural products for no more than ten years.

Last Action

SIGNED CHAP.620

11/21/2022

Committee Referrals

Ways and Means3/9/2022
Higher Education1/5/2022
Higher Education4/28/2021
Finance3/2/2021
Higher Education2/2/2021

Full Bill Text

No bill text available