Senate Bill S4954B

2009-2010 Legislative Session

Authorizes municipalities to establish green loans programs to provide financing to residential property owners for solar and wind energy generating systems

download bill text pdf

Archive: Last Bill Status - In Assembly 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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Actions

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 12, 2010	referred to energy delivered to assembly passed senate
Mar 15, 2010	advanced to third reading
Mar 11, 2010	2nd report cal.
Mar 10, 2010	1st report cal.246
Jan 06, 2010	referred to local government
Jul 16, 2009	committed to rules
Jul 09, 2009	amended on third reading (t) 4954b
Jun 08, 2009	advanced to third reading
Jun 04, 2009	2nd report cal. amended (t) 4954a
Jun 03, 2009	1st report cal.618
Apr 27, 2009	referred to local government

Votes

- May 12, 2010 - Floor Vote
  S4954B
  
  Aye
  
  61
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Floor Vote: May 12, 2010
      
      aye (61)
      
      Adams
      
      Addabbo Jr.
      
      Alesi
      
      Aubertine
      
      Bonacic
      
      Breslin
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Duane
      
      Espada
      
      Farley
      
      Flanagan
      
      Foley
      
      Fuschillo
      
      Golden
      
      Griffo
      
      Hannon
      
      Hassell-Thompson
      
      Huntley
      
      Johnson
      
      Johnson
      
      Klein
      
      Krueger
      
      Kruger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Leibell
      
      Libous
      
      Little
      
      Marcellino
      
      Maziarz
      
      McDonald
      
      Montgomery
      
      Morahan
      
      Nozzolio
      
      Onorato
      
      Oppenheimer
      
      Padavan
      
      Parker
      
      Peralta
      
      Perkins
      
      Ranzenhofer
      
      Robach
      
      Saland
      
      Savino
      
      Schneiderman
      
      Serrano
      
      Seward
      
      Skelos
      
      Smith
      
      Squadron
      
      Stachowski
      
      Stavisky
      
      Stewart-Cousins
      
      Thompson
      
      Valesky
      
      Volker
      
      Winner
      
      Young
      
      absent (1)
      
      Sampson
  Mar 10, 2010 - Local Government Committee Vote
  S4954B
  
  Aye
  
  7
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  1
  
  Abstained
  
  0
  - - Local Government Committee Vote: Mar 10, 2010
      
      aye (7)
      
      Bonacic
      
      Johnson
      
      Little
      
      Oppenheimer
      
      Stewart-Cousins
      
      Thompson
      
      Valesky
      
      excused (1)
      
      Morahan

Bill Amendments

Original

B (Active)

co-Sponsors

2009-S4954 - Details

See Assembly Version of this Bill:: A7611
Current Committee:: Assembly Energy
Law Section:: General Municipal Law
Laws Affected:: Add §96-c, Gen Muni L
Versions Introduced in Other Legislative Sessions:: 2011-2012: A5558
2013-2014: A5820
2015-2016: A2999

2009-S4954 - Summary

Authorizes counties, cities, towns and villages to establish green loans programs to provide financing to residential property owners for the purchase and installation of solar energy generating systems and/or wind energy generating systems on such property and/or for the cost of the performance of an energy efficiency analysis of the dwelling on such property and the completion of energy efficiency improvements upon such dwelling by a licensed contractor; such loans shall be repaid from an annual tax levy on the property; a property owner shall be eligible for only one such loan.

2009-S4954 - Sponsor Memo

                                 BILL NUMBER:  S4954

 TITLE OF BILL :  An act to amend the general municipal law and the
local finance law, in relation to establishing the green loans program
to provide financing for the purchase and installation of residential
solar and wind energy generating systems

 PURPOSE OR GENERAL IDEA OF THE BILL : authorizes municipalities to
establish green loans programs to provide financing to residential
property owners for solar and wind energy generating systems

 SUMMARY OF PROVISIONS : Defines municipality, residential real
property, residential solar energy generating system and residential
wind energy generating system. The governing body of any municipality
may, by local law or ordinance, establish a green loans program. Such
a program shall provide municipal loans and financing to owners of
residential real property within such municipality for all costs or
any portion of the costs of purchasing and installing a residential
solar energy generating system and/or a residential wind energy system
upon the residential real property.

Each such local law or ordinance shall provide for the terms and
conditions for the awarding and repayment of loans and financing for
residential solar energy generating systems and residential wind
energy systems; provided, that all such loans and financing shall be
repaid by means of twenty equal, annual charges imposed upon the

subject residential; real property at the same time other municipal
real property taxes are imposed. Every loan issued pursuant to this
section shall be subject to a fixed rate of interest established at
the time of the granting of such loan.

 JUSTIFICATION : In his annual State of the State address, Governor
Paterson outlines his aggressive plan to meet 4St of New York State's
electricity needs through clean renewable energy and improved energy
efficiency by 2015. Installation of solar and wind energy systems can
be cost effective for many residential property owners with the
existing state and federal subsidies, yet there are three major
obstacles to widespread adoption of these technologies and this
legislation addresses them at minimal expense to the State. These
obstacles are:

the high upfront costs

the ability to amortize the cost over 20 years, and, the possibility
that those costs will not be recovered when the property is sold.

By providing access to low cost capital through "Green Loans", the
taxpayers of New York will have access to lower cost capital than they
might realize with traditional financing and preserve their home
equity for other purposes. By amortizing the cost over 20 years, the
annual cost will be less than annual savings, and by attaching the
cost to a property tax, thereby eliminating the risk of recovering the
expense when ownership of the property is transferred. By relying on
the credit worthiness of the municipality and not the homeowner,
"Green Loans" can spark the renewable energy sector and make
significant step toward meeting our goals of"45 by 15".

 LEGISLATIVE HISTORY : New bill.

 FISCAL IMPLICATIONS : None.

 EFFECTIVE DATE : This act shall take effect immediately.

2009-S4954 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4954

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by Sen. THOMPSON -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the general municipal law and the local finance law,  in
  relation  to establishing the green loans program to provide financing
  for the purchase and installation of residential solar and wind energy
  generating systems

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  general  municipal  law  is  amended by adding a new
section 96-c to read as follows:
  S 96-C. GREEN LOANS PROGRAM. 1. FOR THE PURPOSES OF THIS SECTION,  THE
FOLLOWING TERMS SHALL HAVE THE FOLLOWING DEFINITIONS:
  A. "MUNICIPALITY" MEANS A CITY, TOWN OR VILLAGE.
  B.  "RESIDENTIAL  REAL  PROPERTY"  MEANS REAL PROPERTY HAVING AN OWNER
OCCUPIED DWELLING UNIT THEREON.
  C. "RESIDENTIAL SOLAR ENERGY GENERATING SYSTEM" MEANS  AN  ARRANGEMENT
OR COMBINATION OF COMPONENTS INSTALLED ON RESIDENTIAL REAL PROPERTY THAT
UTILIZES  SOLAR RADIATION TO PRODUCE ENERGY DESIGNED TO PROVIDE HEATING,
COOLING, HOT WATER AND/OR  ELECTRICITY.  SUCH  TERM  SHALL  NOT  INCLUDE
EQUIPMENT THAT IS PART OF A NON-SOLAR ENERGY SYSTEM.
  D. "RESIDENTIAL WIND ENERGY GENERATING SYSTEM" MEANS AN ARRANGEMENT OR
COMBINATION  OF  COMPONENTS  INSTALLED  ON  RESIDENTIAL  REAL  PROPERTY,
INCLUDING POWER CONDITIONING EQUIPMENT, DESIGNED TO PROVIDE  ELECTRICITY
OR  MECHANICAL ENERGY THROUGH THE PROCESS OF CONVERTING WIND ENERGY INTO
MECHANICAL AND/OR ELECTRIC ENERGY,  AND  STORING  OR  DISTRIBUTING  SUCH
ENERGY.
  2.  THE  GOVERNING BODY OF ANY MUNICIPALITY MAY, BY LOCAL LAW OR ORDI-
NANCE, ESTABLISH A GREEN LOANS PROGRAM PURSUANT TO THIS SECTION.  SUCH A
PROGRAM SHALL PROVIDE MUNICIPAL LOANS AND FINANCING TO OWNERS  OF  RESI-
DENTIAL  REAL  PROPERTY  WITHIN  SUCH  MUNICIPALITY FOR ALL COSTS OR ANY
PORTION OF THE COSTS OF PURCHASING AND INSTALLING  A  RESIDENTIAL  SOLAR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10395-02-9

S. 4954                             2

ENERGY  GENERATING  SYSTEM  AND/OR A RESIDENTIAL WIND ENERGY SYSTEM UPON
THE RESIDENTIAL REAL PROPERTY.
  3.  EACH  SUCH  LOCAL LAW OR ORDINANCE SHALL PROVIDE FOR THE TERMS AND
CONDITIONS FOR THE AWARDING AND REPAYMENT OF  LOANS  AND  FINANCING  FOR
RESIDENTIAL  SOLAR ENERGY GENERATING SYSTEMS AND RESIDENTIAL WIND ENERGY
SYSTEMS; PROVIDED, THAT ALL SUCH LOANS AND FINANCING SHALL BE REPAID  BY
MEANS  OF TWENTY EQUAL, ANNUAL CHARGES IMPOSED UPON THE SUBJECT RESIDEN-
TIAL REAL PROPERTY AT THE SAME TIME OTHER MUNICIPAL REAL PROPERTY  TAXES
ARE IMPOSED. EVERY LOAN ISSUED PURSUANT TO THIS SECTION SHALL BE SUBJECT
TO  A  FIXED RATE OF INTEREST ESTABLISHED AT THE TIME OF THE GRANTING OF
SUCH LOAN.
  S 2. Paragraph a of section 11.00 of the local finance law is  amended
by adding a new subdivision 104 to read as follows:
  104. ISSUANCE OF LOANS AND FINANCING PURSUANT TO A GREEN LOANS PROGRAM
IN  ACCORDANCE  WITH  SECTION NINETY-SIX-C OF THE GENERAL MUNICIPAL LAW,
TWENTY YEARS.
  S 3. This act shall take effect immediately.

co-Sponsors

2009-S4954A - Details

See Assembly Version of this Bill:: A7611
Current Committee:: Assembly Energy
Law Section:: General Municipal Law
Laws Affected:: Add §96-c, Gen Muni L
Versions Introduced in Other Legislative Sessions:: 2011-2012: A5558
2013-2014: A5820
2015-2016: A2999

2009-S4954A - Summary

2009-S4954A - Sponsor Memo

                                 BILL NUMBER:  S4954A

 TITLE OF BILL :
An act to amend the general municipal law and the local finance law,
in relation to establishing the green loans program to provide
financing for the purchase and installation of residential solar and
wind energy generating systems, and for the performance of
improvements to improve the energy efficiency of residential dwellings


 PURPOSE OR GENERAL IDEA OF THE BILL :
Authorizes municipalities to establish green loans programs to provide
financing to residential property owners for solar and wind energy
generating systems and authorizes the establishment of green homes
programs to conduct residential energy audits.

 SUMMARY OF PROVISIONS :
Defines municipality, residential real property, residential solar
energy generating system and residential wind energy generating
system. The governing body of any municipality may, by local law or
ordinance, establish a green loans and green homes program. Such a
program shall provide municipal loans and financing to owners of
residential real property within such municipality for all costs or
any portion of the costs of purchasing and installing a residential
solar energy generating system and/or a residential wind energy system
upon the residential real property; and/or the cost of the performance

of an energy efficiency analysis of the dwelling upon residential real
property and the completion of energy efficiency improvements upon
such dwelling by a licensed contractor.

Each such local law or ordinance shall provide for the terms and
conditions for the awarding and repayment of loans and financing for
residential solar energy generating systems and residential wind
energy systems; provided, that all such loans and financing shall be
repaid by means of twenty equal, annual charges imposed upon the
subject residential real property at the same time other municipal
real property taxes are imposed. Every loan issued pursuant to this
section shall be subject to a fixed rate of interest established at
the time of the granting of such loan.

Each such local law or ordinance shall provide for the terms and
conditions for the awarding and repayment of loans and financing for
the performance of energy efficiency analyses of dwelling upon
residential real property and the completion of energy efficiency
improvements upon such dwellings by certified contractors; provided,
that all such loans and financing shall be repaid at an annual rate
equal to the annual energy savings to the owner of the residential
real property as a result of the energy efficiency improvements
performed with the proceeds of the loans or financing and shall be
paid at the same time other municipal real property taxes are imposed.
Every loan issued pursuant to this section shall be subject to a fixed
rate of interest established at the time of the granting of such loan.

 JUSTIFICATION :
In his annual State of the State address, Governor Paterson outlines
his aggressive plan to meet 45% of New York State's electricity needs
through clean renewable energy and improved energy efficiency by 2015.
Installation of solar and wind energy systems can be cost effective
for many residential property owners with the existing state and
federal subsidies, yet there are three major obstacles to widespread
adoption of these technologies and this legislation addresses them at
minimal expense to the State. These obstacles are:  the high upfront
cost, the ability to amortize the cost over 20 years, and, the
possibility that those costs will not be recovered when the property
is sold.

By providing access to low cost capital through "Green Loans", the
taxpayers of New York will have access to lower cost capital than they
might realize with traditional financing and preserve their home
equity for other purposes. By amortizing the cost over 20 years, the
annual cost will be less than annual savings, and by attaching the
cost to a property tax, thereby eliminating the risk of recovering the
expense when ownership of the property is transferred. By relying on
the credit worthiness of the municipality and not the homeowner,
"Green Loans" can spark the renewable energy sector and make
significant step toward meeting our goals of "45 by 15".

 LEGISLATIVE HISTORY :
New bill.

 FISCAL IMPLICATIONS :
None.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S4954A - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 4954--A
    Cal. No. 618

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sens. THOMPSON, FOLEY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Local  Government
  --  reported  favorably  from said committee, ordered to first report,
  amended on first report,  ordered  to  a  second  report  and  ordered
  reprinted, retaining its place in the order of second report

AN  ACT to amend the general municipal law and the local finance law, in
  relation to establishing the green loans program to provide  financing
  for the purchase and installation of residential solar and wind energy
  generating systems, and for the performance of improvements to improve
  the energy efficiency of residential dwellings

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general municipal  law  is  amended  by  adding  a  new
section 96-c to read as follows:
  S  96-C. GREEN LOANS PROGRAM. 1. FOR THE PURPOSES OF THIS SECTION, THE
FOLLOWING TERMS SHALL HAVE THE FOLLOWING DEFINITIONS:
  A. "MUNICIPALITY" MEANS A COUNTY, CITY, TOWN OR VILLAGE.
  B. "RESIDENTIAL REAL PROPERTY" MEANS REAL  PROPERTY  HAVING  AN  OWNER
OCCUPIED DWELLING UNIT THEREON.
  C.  "RESIDENTIAL  SOLAR ENERGY GENERATING SYSTEM" MEANS AN ARRANGEMENT
OR COMBINATION OF COMPONENTS INSTALLED ON RESIDENTIAL REAL PROPERTY THAT
UTILIZES SOLAR RADIATION TO PRODUCE ENERGY DESIGNED TO PROVIDE  HEATING,
COOLING,  HOT  WATER  AND/OR  ELECTRICITY.  SUCH  TERM SHALL NOT INCLUDE
EQUIPMENT THAT IS PART OF A NON-SOLAR ENERGY SYSTEM.
  D. "RESIDENTIAL WIND ENERGY GENERATING SYSTEM" MEANS AN ARRANGEMENT OR
COMBINATION  OF  COMPONENTS  INSTALLED  ON  RESIDENTIAL  REAL  PROPERTY,
INCLUDING  POWER CONDITIONING EQUIPMENT, DESIGNED TO PROVIDE ELECTRICITY
OR MECHANICAL ENERGY THROUGH THE PROCESS OF CONVERTING WIND ENERGY  INTO
MECHANICAL  AND/OR  ELECTRIC  ENERGY,  AND  STORING OR DISTRIBUTING SUCH
ENERGY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10395-07-9

S. 4954--A                          2

  2. THE GOVERNING BODY OF ANY MUNICIPALITY MAY, BY LOCAL LAW  OR  ORDI-
NANCE, ESTABLISH A GREEN LOANS PROGRAM PURSUANT TO THIS SECTION.  SUCH A
PROGRAM  SHALL  PROVIDE MUNICIPAL LOANS AND FINANCING TO OWNERS OF RESI-
DENTIAL REAL PROPERTY WITHIN SUCH MUNICIPALITY  FOR  ALL  COSTS  OR  ANY
PORTION  OF  THE  COSTS OF PURCHASING AND INSTALLING A RESIDENTIAL SOLAR
ENERGY GENERATING SYSTEM AND/OR A RESIDENTIAL WIND  ENERGY  SYSTEM  UPON
THE RESIDENTIAL REAL PROPERTY; AND/OR THE COSTS OF THE PERFORMANCE OF AN
ENERGY EFFICIENCY ANALYSIS OF THE DWELLING UPON RESIDENTIAL REAL PROPER-
TY AND THE COMPLETION OF ENERGY EFFICIENCY IMPROVEMENTS UPON SUCH DWELL-
ING BY A CERTIFIED CONTRACTOR.
  3.  EACH  SUCH  LOCAL LAW OR ORDINANCE SHALL PROVIDE FOR THE TERMS AND
CONDITIONS FOR THE AWARDING AND REPAYMENT OF  LOANS  AND  FINANCING  FOR
RESIDENTIAL  SOLAR ENERGY GENERATING SYSTEMS AND RESIDENTIAL WIND ENERGY
SYSTEMS; PROVIDED, THAT ALL SUCH LOANS AND FINANCING SHALL BE REPAID  BY
MEANS  OF TWENTY EQUAL, ANNUAL CHARGES IMPOSED UPON THE SUBJECT RESIDEN-
TIAL REAL PROPERTY AT THE SAME TIME OTHER MUNICIPAL REAL PROPERTY  TAXES
ARE IMPOSED. EVERY LOAN ISSUED PURSUANT TO THIS SECTION SHALL BE SUBJECT
TO  A  FIXED RATE OF INTEREST ESTABLISHED AT THE TIME OF THE GRANTING OF
SUCH LOAN.
  4. EACH SUCH LOCAL LAW OR ORDINANCE SHALL PROVIDE FOR  THE  TERMS  AND
CONDITIONS FOR THE AWARDING AND REPAYMENT OF LOANS AND FINANCING FOR THE
PERFORMANCE  OF ENERGY EFFICIENCY ANALYSES OF DWELLINGS UPON RESIDENTIAL
REAL PROPERTY AND THE COMPLETION OF ENERGY EFFICIENCY IMPROVEMENTS  UPON
SUCH  DWELLINGS  BY  LICENSED CONTRACTORS; PROVIDED, THAT ALL SUCH LOANS
AND FINANCING SHALL BE REPAID AT AN ANNUAL  RATE  EQUAL  TO  THE  ANNUAL
ENERGY SAVINGS TO THE OWNER OF THE RESIDENTIAL REAL PROPERTY AS A RESULT
OF  THE  ENERGY  EFFICIENCY IMPROVEMENTS PERFORMED  WITH THE PROCEEDS OF
THE LOANS OR FINANCING AND SHALL BE PAID AT THE SAME TIME OTHER  MUNICI-
PAL  REAL PROPERTY TAXES ARE IMPOSED. EVERY LOAN ISSUED PURSUANT TO THIS
SECTION SHALL BE SUBJECT TO A FIXED RATE OF INTEREST ESTABLISHED AT  THE
TIME OF THE GRANTING OF SUCH LOAN.
  S  2. Paragraph a of section 11.00 of the local finance law is amended
by adding a new subdivision 104 to read as follows:
  104. ISSUANCE OF LOANS AND FINANCING PURSUANT TO A GREEN LOANS PROGRAM
IN ACCORDANCE WITH SECTION NINETY-SIX-C OF THE  GENERAL  MUNICIPAL  LAW,
TWENTY YEARS.
  S 3. This act shall take effect immediately.

co-Sponsors

2009-S4954B (ACTIVE) - Details

See Assembly Version of this Bill:: A7611
Current Committee:: Assembly Energy
Law Section:: General Municipal Law
Laws Affected:: Add §96-c, Gen Muni L
Versions Introduced in Other Legislative Sessions:: 2011-2012: A5558
2013-2014: A5820
2015-2016: A2999

2009-S4954B (ACTIVE) - Summary

2009-S4954B (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S4954B

 TITLE OF BILL :
An act to amend the general municipal law, in relation to establishing
the green loans program to provide financing for the purchase and
installation of residential solar and wind energy generating systems,
and for the performance of improvements to improve the energy
efficiency of residential dwellings

 PURPOSE OR GENERAL IDEA OF THE BILL :
Authorizes municipalities to establish green loans programs to provide
financing to residential property owners for solar and wind energy
generating systems and authorizes the establishment of green homes
programs to conduct residential energy audits.

 SUMMARY OF PROVISIONS :
Defines municipality, residential real property, residential solar
energy generating system and residential wind energy generating
system. The governing body of any municipality may, by local law or
ordinance, establish a green loans and green homes program. Such a
program shall provide municipal loans and financing to owners of
residential real property within such municipality for all costs or
any portion of the costs of purchasing and installing a residential
solar energy generating system and/or a residential wind energy system
upon the residential real property; and/or the cost of the performance
of an energy efficiency analysis of the dwelling upon residential real

property and the completion of energy efficiency improvements upon
such dwelling by a licensed contractor.

Each such local law or ordinance shall provide for the terms and
conditions for the awarding and repayment of loans and financing for
residential solar energy generating systems and residential wind
energy systems; provided, that all such loans and financing shall be
repaid by means of twenty equal, annual charges imposed upon the
subject residential real property at the same time other municipal
real property taxes are imposed. Every loan issued pursuant to this
section shall be subject to a fixed rate of interest established at
the time of the granting of such loan.

Each such local law or ordinance shall provide for the terms and
conditions for the awarding and repayment of loans and financing for
the performance of energy efficiency analyses of dwelling upon
residential real property and the completion of energy efficiency
improvements upon such dwellings by certified contractors; provided,
that all such loans and financing shall be repaid at an annual rate
equal to the annual energy savings to the owner of the residential
real property as a result of the energy efficiency improvements
performed with the proceeds of the loans or financing and shall be
paid at the same time other municipal real property taxes are imposed.
Every loan issued pursuant to this section shall be subject to a fixed
rate of interest established at the time of the granting of such loan.

 JUSTIFICATION :
In his annual State of the State address, Governor Paterson outlines
his aggressive plan to meet 45% of New York State's electricity needs
through clean renewable energy and improved energy efficiency by 2015.
Installation of solar and wind energy systems can be cost effective.
for many residential property owners with the existing state and
federal subsidies, yet there are three major obstacles to widespread
adoption of these technologies and this legislation addresses them at
minimal expense to the State. These obstacles are:  the high upfront
cost, the ability to amortize the cost over 20 years, and, the
possibility that those costs will not be recovered when the property
is sold.


By providing access to low cost capital through "Green Loans", the
taxpayers of New York will have access to lower cost capital than they
might realize with traditional financing and preserve their home
equity for other purposes. By amortizing the cost over 20 years, the
annual cost will be less than annual savings, and by attaching the
cost to a property tax, thereby eliminating the risk of recovering the
expense when ownership of the property is transferred. By relying on
the credit worthiness of the municipality and not the homeowner,
"Green Loans' can spark the renewable energy sector and make
significant step toward meeting our goals of "45 by 15".

 LEGISLATIVE HISTORY :
New bill.

 FISCAL IMPLICATIONS :
None.

 EFFECTIVE DATE :
This act shall take effect immediately.

2009-S4954B (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 4954--B
    Cal. No. 618

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sens. THOMPSON, FOLEY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Local  Government
  --  reported  favorably  from said committee, ordered to first report,
  amended on first report,  ordered  to  a  second  report  and  ordered
  reprinted,  retaining  its  place  in  the  order  of second report --
  ordered to a third reading, amended and ordered  reprinted,  retaining
  its place in the order of third reading

AN  ACT  to amend the general municipal law, in relation to establishing
  the green loans program to provide  financing  for  the  purchase  and
  installation  of residential solar and wind energy generating systems,
  and for the performance of improvements to improve  the  energy  effi-
  ciency of residential dwellings

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The general municipal  law  is  amended  by  adding  a  new
section 96-c to read as follows:
  S  96-C. GREEN LOANS PROGRAM. 1. FOR THE PURPOSES OF THIS SECTION, THE
FOLLOWING TERMS SHALL HAVE THE FOLLOWING DEFINITIONS:
  A. "MUNICIPALITY" MEANS A COUNTY, CITY, TOWN OR VILLAGE.
  B. "RESIDENTIAL REAL PROPERTY" MEANS REAL  PROPERTY  HAVING  AN  OWNER
OCCUPIED DWELLING UNIT THEREON.
  C.  "RESIDENTIAL  SOLAR ENERGY GENERATING SYSTEM" MEANS AN ARRANGEMENT
OR COMBINATION OF COMPONENTS INSTALLED ON RESIDENTIAL REAL PROPERTY THAT
UTILIZES SOLAR RADIATION TO PRODUCE ENERGY DESIGNED TO PROVIDE  HEATING,
COOLING,  HOT  WATER  AND/OR  ELECTRICITY.  SUCH  TERM SHALL NOT INCLUDE
EQUIPMENT THAT IS PART OF A NON-SOLAR ENERGY SYSTEM.
  D. "RESIDENTIAL WIND ENERGY GENERATING SYSTEM" MEANS AN ARRANGEMENT OR
COMBINATION  OF  COMPONENTS  INSTALLED  ON  RESIDENTIAL  REAL  PROPERTY,
INCLUDING  POWER CONDITIONING EQUIPMENT, DESIGNED TO PROVIDE ELECTRICITY
OR MECHANICAL ENERGY THROUGH THE PROCESS OF CONVERTING WIND ENERGY  INTO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10395-12-9

S. 4954--B                          2

MECHANICAL  AND/OR  ELECTRIC  ENERGY,  AND  STORING OR DISTRIBUTING SUCH
ENERGY.
  2.  THE  GOVERNING BODY OF ANY MUNICIPALITY MAY, BY LOCAL LAW OR ORDI-
NANCE, ESTABLISH A GREEN LOANS PROGRAM PURSUANT TO  THIS  SECTION  USING
MONIES  MADE  AVAILABLE FROM FEDERAL GRANTS AND OTHER MONIES THAT MAY BE
USED FOR THE PURPOSES OF THIS PROGRAM.   SUCH A  PROGRAM  SHALL  PROVIDE
MUNICIPAL  LOANS  AND  FINANCING  TO OWNERS OF RESIDENTIAL REAL PROPERTY
WITHIN SUCH MUNICIPALITY FOR ALL COSTS OR ANY PORTION OF  THE  COSTS  OF
PURCHASING  AND  INSTALLING A RESIDENTIAL SOLAR ENERGY GENERATING SYSTEM
AND/OR A RESIDENTIAL WIND ENERGY SYSTEM UPON THE RESIDENTIAL REAL  PROP-
ERTY; AND/OR THE COSTS OF THE PERFORMANCE OF AN ENERGY EFFICIENCY ANALY-
SIS OF THE DWELLING UPON RESIDENTIAL REAL PROPERTY AND THE COMPLETION OF
ENERGY  EFFICIENCY  IMPROVEMENTS  UPON  SUCH  DWELLING  BY  A  CERTIFIED
CONTRACTOR.
  3. EACH SUCH LOCAL LAW OR ORDINANCE SHALL PROVIDE FOR  THE  TERMS  AND
CONDITIONS  FOR  THE  AWARDING  AND REPAYMENT OF LOANS AND FINANCING FOR
RESIDENTIAL SOLAR ENERGY GENERATING SYSTEMS AND RESIDENTIAL WIND  ENERGY
SYSTEMS;  PROVIDED, THAT ALL SUCH LOANS AND FINANCING SHALL BE REPAID BY
MEANS OF TWENTY EQUAL, ANNUAL CHARGES IMPOSED UPON THE SUBJECT  RESIDEN-
TIAL  REAL PROPERTY AT THE SAME TIME OTHER MUNICIPAL REAL PROPERTY TAXES
ARE IMPOSED. EVERY LOAN ISSUED PURSUANT TO THIS SECTION SHALL BE SUBJECT
TO A FIXED RATE OF INTEREST ESTABLISHED AT THE TIME OF THE  GRANTING  OF
SUCH LOAN.
  4.  EACH  SUCH  LOCAL LAW OR ORDINANCE SHALL PROVIDE FOR THE TERMS AND
CONDITIONS FOR THE AWARDING AND REPAYMENT OF LOANS AND FINANCING FOR THE
PERFORMANCE OF ENERGY EFFICIENCY ANALYSES OF DWELLINGS UPON  RESIDENTIAL
REAL  PROPERTY AND THE COMPLETION OF ENERGY EFFICIENCY IMPROVEMENTS UPON
SUCH DWELLINGS BY LICENSED CONTRACTORS; PROVIDED, THAT  ALL  SUCH  LOANS
AND  FINANCING  SHALL  BE  REPAID  AT AN ANNUAL RATE EQUAL TO THE ANNUAL
ENERGY SAVINGS TO THE OWNER OF THE RESIDENTIAL REAL PROPERTY AS A RESULT
OF THE ENERGY EFFICIENCY IMPROVEMENTS PERFORMED   WITH THE  PROCEEDS  OF
THE  LOANS OR FINANCING AND SHALL BE PAID AT THE SAME TIME OTHER MUNICI-
PAL REAL PROPERTY TAXES ARE IMPOSED. EVERY LOAN ISSUED PURSUANT TO  THIS
SECTION  SHALL BE SUBJECT TO A FIXED RATE OF INTEREST ESTABLISHED AT THE
TIME OF THE GRANTING OF SUCH LOAN.
  5.  A MUNICIPALITY SHALL NOT PROVIDE LOANS OR  FINANCING  PURSUANT  TO
THIS  SECTION  TO  AN  OWNER OR OWNERS OF RESIDENTIAL REAL PROPERTY THAT
HAVE RECEIVED A LOAN OR FINANCING FROM ANOTHER MUNICIPALITY PURSUANT  TO
THIS SECTION.
  S 2. This act shall take effect immediately.

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Senate Bill S4954B

Sponsored By

Archive: Last Bill Status - In Assembly Committee

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May 12, 2010 - Floor Vote

Floor Vote: May 12, 2010

Mar 10, 2010 - Local Government Committee Vote

Local Government Committee Vote: Mar 10, 2010

Bill Amendments

co-Sponsors

2009-S4954 - Details

2009-S4954 - Summary

2009-S4954 - Sponsor Memo

2009-S4954 - Bill Text download pdf

co-Sponsors

2009-S4954A - Details

2009-S4954A - Summary

2009-S4954A - Sponsor Memo

2009-S4954A - Bill Text download pdf

co-Sponsors

2009-S4954B (ACTIVE) - Details

2009-S4954B (ACTIVE) - Summary

2009-S4954B (ACTIVE) - Sponsor Memo

2009-S4954B (ACTIVE) - Bill Text download pdf

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Sponsored By

Antoine M. Thompson

Archive: Last Bill Status - In Assembly Committee

Actions

Votes

Bill Amendments

co-Sponsors

Brian X. Foley

2009-S4954 - Details

2009-S4954 - Summary

2009-S4954 - Sponsor Memo

2009-S4954 - Bill Text download pdf

co-Sponsors

Brian X. Foley

2009-S4954A - Details

2009-S4954A - Summary

2009-S4954A - Sponsor Memo

2009-S4954A - Bill Text download pdf

co-Sponsors

Thomas K. Duane

Brian X. Foley

2009-S4954B (ACTIVE) - Details

2009-S4954B (ACTIVE) - Summary

2009-S4954B (ACTIVE) - Sponsor Memo

2009-S4954B (ACTIVE) - Bill Text download pdf

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