Bill > A02594

This bill establishes the Good Jobs Guarantee Program in New York State to address workforce training challenges and provide economic opportunities for low-income residents. The program creates a unique, outcome-based workforce training model where participants can receive job training at no upfront cost and only pay back training expenses if they secure a job paying at least $50,000 annually. Eligible participants must have an annual income under $45,000 and either be receiving certain social services assistance or not have a college degree. The program will be administered through a public-private partnership, with a program administrator responsible for raising capital from investors and philanthropic organizations to fund training programs across various employment fields. Participants will have flexible repayment terms, including a maximum repayment period of eight years, with monthly payments capped at 20% of their annual salary, and built-in hardship protections like a three-month allowance for late or excused payments. The bill also establishes a $100 million guarantor fund to help attract private investment and support the program's infrastructure. The overall goal is to create an accessible pathway to economic mobility for New Yorkers who traditionally face barriers to high-paying jobs, without burdening them with excessive student debt.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A2594