Sponsored by:
Assemblywoman MILA M. JASEY
District 27 (Essex and Morris)
Assemblywoman VERLINA REYNOLDS-JACKSON
District 15 (Hunterdon and Mercer)
Assemblyman BENJIE E. WIMBERLY
District 35 (Bergen and Passaic)
Co-Sponsored by:
Assemblywoman Mosquera and Assemblyman McKeon
SYNOPSIS
Requires Treasury to establish and maintain electronic verification system to verify State employees’ eligibility to participate in federal Public Service Loan Forgiveness Program.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the creation of an electronic verification system in the Department of the Treasury and supplementing Title 52 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. The Department of the Treasury shall establish and maintain an electronic verification system, utilizing the information it receives pursuant to subsection b. of this section, to confirm that State employees who wish to participate in the federal Public Service Loan Forgiveness Program meet the employment qualifications for participation in and successful completion of the program. The department shall, as necessary, supply State employees with any information and documentation necessary to assist in their application for student loan forgiveness under the program.
b. Each State agency shall develop standards and practices to identify State employees of the agency who have submitted an application for enrollment in the federal Public Service Loan Forgiveness Program or who have not submitted such an application but may meet the employment qualifications for participation in the program, and shall notify the Department of the Treasury whenever such a State employee: submits an application for enrollment in the program; completes the annual certification of employment for participation in the program; or ceases employment at the State agency.
c. As used in this act:
“Public Service Loan Forgiveness Program” means the federal Public Service Loan Forgiveness Program established under section 401 of the “College Cost Reduction and Access Act,” Pub.L.110-84 (20 U.S.C. s.1087e).
“State agency” means any of the principal departments in the Executive Branch of the State Government, and any division, board, bureau, office, commission, or other instrumentality within or created by such department; the Legislature of the State, and any office, board, bureau, or commission within or created by the Legislative Branch; the Judiciary of the State, and any office, board, bureau, commission, or other instrumentality within or created by the Judicial Branch of the State Government; and, to the extent consistent with law, any interstate agency to which New Jersey is a party and any independent State authority, commission, instrumentality, or agency. A county or municipality shall not be deemed an agency or instrumentality of the State.
“State employee” means an
employee who is employed full-time by a State agency.
2. This act shall take effect on the first day of the third month following enactment, except the State Treasurer may take any anticipatory action in advance thereof as shall be necessary for the implementation of this act.
STATEMENT
This bill requires the Department of the Treasury to establish and maintain an electronic verification system, utilizing the information it receives from State agencies pursuant to the bill, to confirm that State employees who wish to participate in the federal Public Service Loan Forgiveness Program meet the employment qualifications for participation in and successful completion of the program. The department is required to supply State employees, as necessary, with any information and documentation necessary to assist in their application for student loan forgiveness under the program.
The bill also requires State agencies to develop standards and practices to identify State employees employed by the agency who have submitted an application for enrollment in the federal Public Service Loan Forgiveness Program or who have not submitted such an application but may meet the employment qualifications for participation in the program, and to notify the Department of the Treasury whenever such a State employee: submits an application for enrollment in the program; completes the annual certification of employment for participation in the program; or ceases employment at the State agency.
The bill defines “state agency” as any of the principal departments in the Executive Branch of the State Government, and any division, board, bureau, office, commission, or other instrumentality within or created by such department; the Legislature of the State, and any office, board, bureau, or commission within or created by the Legislative Branch; the Judiciary of the State, and any office, board, bureau, commission, or other instrumentality within or created by the Judicial Branch of the State Government; and, to the extent consistent with law, any interstate agency to which New Jersey is a party and any independent State authority, commission, instrumentality, or agency. For purposes of the bill, a county or municipality is not deemed an agency or instrumentality of the State. The bill defines “state employee” as an employee who is employed full-time by a State agency.