Senator Thompson Passes Municipal Energy Sustainable Loan Program Legislation
For Immediate Release: November 17, 2009
Contact: Heather Zeisz | email@example.com | 716.854.8705
Albany, NY – Yesterday, November 16, 2009, New York State Senator Antoine M. Thompson (D-Parts of Erie & Niagara Counties) along with the New York State Senate, passed his municipal energy sustainable loan program legislation Bill # S.66004-A.
"As Chair of the Environmental Conservation Committee, I am happy to see that the Senate has moved forward on this bill. This legislation supports job creation and saving money and is another stepping stone on the way to a greener New York,” said Senator Antoine Thompson.
Taking another significant step toward a cleaner, greener and more energy efficient New York, this bill enables property owners to lower energy costs, reduce greenhouse gas emissions and reduce dependence on fossil fuels.
• Allows municipalities to provide property owners with loans to install renewable energy systems and energy efficiency measures.
• Municipalities would establish loan programs using federal grant assistance or federal credit support.
• Municipalities issue a small municipal bond to provide up-front funding to commercial or residential property owners to finance energy retrofits to their properties .
• The loans would be repaid via assessments on the property owners' annual property tax bills.