Bill > S00563

This bill establishes the Good Jobs Guarantee Act, a workforce training program designed to help low-income New Yorkers secure high-paying jobs without incurring traditional educational debt. The program will be administered through the Empire State Development Corporation and will provide workforce training through approved providers for individuals with annual incomes below $45,000 who either lack a college degree or receive certain social services assistance. Participants will not pay any upfront tuition costs and will only have payment obligations if they secure a job paying at least $50,000 annually. The payment structure is unique: participants will pay a variable percentage (up to 20%) of their salary for a maximum of eight years, with no interest accrual and built-in hardship exceptions. A $100 million guarantor fund will be established to attract private investment and support the program, with a program administrator selected to manage the capital raising and provider contracts. The bill aims to create an alternative pathway to economic mobility by shifting the financial risk from job seekers to training providers and ensuring participants are significantly better off after completing the program. The goal is to revolutionize workforce training by providing a more accessible and low-risk approach to skills development for low-income New Yorkers.

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https://www.nysenate.gov/legislation/bills/2025/S563