Senate Bill S7420

2021-2022 Legislative Session

Requires financial security for reclamation for solar and wind electric generating systems

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2021-S7420 (ACTIVE) - Details

See Assembly Version of this Bill:
A8353
Current Committee:
Senate Energy And Telecommunications
Law Section:
Public Service Law
Laws Affected:
Add §66-s, Pub Serv L; amd §94-c, Exec L
Versions Introduced in 2023-2024 Legislative Session:
S1265, A1733

2021-S7420 (ACTIVE) - Summary

Requires financial security for reclamation for solar and wind electric generating systems.

2021-S7420 (ACTIVE) - Sponsor Memo

2021-S7420 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7420
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              October 6, 2021
                                ___________
 
 Introduced  by Sen. BORRELLO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the  public  service  law  and  the  executive  law,  in
   relation to requiring financial security for reclamation for solar and
   wind electric generating systems

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The public service law is amended by adding a  new  section
 66-s to read as follows:
   § 66-S. FINANCIAL SECURITY FOR RECLAMATION FOR SOLAR AND WIND ELECTRIC
 GENERATING  SYSTEMS. 1. BEFORE THE COMMISSION MAY ISSUE A PERMIT OR FIND
 A SOLAR OR WIND ELECTRIC GENERATING SYSTEM IN COMPLIANCE WITH ANY  TERMS
 AND  CONDITIONS  SET  FORTH  IN ANY PERMIT ALREADY ISSUED, THE APPLICANT
 SHALL FURNISH FINANCIAL SECURITY TO ENSURE THE PERFORMANCE  OF  RECLAMA-
 TION  AS  PROVIDED  IN  THE  APPROVED  PLAN FOR A SOLAR OR WIND ELECTRIC
 GENERATING SYSTEM AND NAMING THE STATE AS BENEFICIARY. FINANCIAL SECURI-
 TY SHALL BE IN THE FORM OF A BOND FROM A CORPORATE SURETY LICENSED TO DO
 BUSINESS AS SUCH IN THE STATE OR ANY OTHER  FORM  THE  COMMISSION  DEEMS
 ACCEPTABLE.  ANY INTEREST ACCRUING AS A RESULT OF SUCH SECURITY SHALL BE
 THE EXCLUSIVE PROPERTY OF THE PERMITTEE.
   2. THE COMMISSION SHALL DETERMINE THE AMOUNT, CONDITION, AND TERMS  OF
 THE  FINANCIAL  SECURITY.  THE  AMOUNT SHALL BE BASED UPON THE ESTIMATED
 COST OF RECLAIMING THE AFFECTED LAND, WHICH SHALL BE BASED  ON  INFORMA-
 TION CONTAINED IN THE PERMIT APPLICATION AND UPON SUCH INFORMATION AS AN
 INVESTIGATION BY THE COMMISSION MAY DISCLOSE.
   3.  THE FINANCIAL SECURITY SHALL REMAIN IN FULL FORCE AND EFFECT UNTIL
 THE COMMISSION HAS APPROVED THE RECLAMATION. AT THE  DISCRETION  OF  THE
 COMMISSION,  THE PERMITTEE MAY SECURE THE RELEASE OF THAT PORTION OF THE
 FINANCIAL SECURITY FOR AFFECTED  LAND  ON  WHICH  RECLAMATION  HAS  BEEN
 COMPLETED AND APPROVED BY THE COMMISSION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13183-01-1
              

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