Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 08, 2014 |
referred to finance |
May 16, 2013 |
referred to finance |
Senate Bill S5468
2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S5468 (ACTIVE) - Details
2013-S5468 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5468 TITLE OF BILL: An act to amend the state finance law, in relation to a three phase power revolving loan program PURPOSE: This bill establishes a revolving loan program to provide farmers in Jefferson, Oswego and St. Lawrence Counties with low interest loans so that they can upgrade their electricity to three phase power. SUMMARY OF PROVISIONS: This bill adds a new section 97-u to the State Finance Law. Establishes a Three Phase Power Revolving Loan Program in the counties of Jefferson, Oswego, and Saint Lawrence to provide farmers with low interest loans so that they can upgrade their electricity to three phase power. The amount of funds available for the program in each county shall be subject to a budgetary appropriation. Provides that the Industrial Development Agency in each of the counties that are part of the program shall promulgate the rules and regulations necessary to carry out the provisions of this section. Provides that the loans must be within the amount available in each county's three phase power revolving loan program. This act shall take effect on the one hundred eightieth day after it shall have
2013-S5468 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5468 2013-2014 Regular Sessions I N S E N A T E May 16, 2013 ___________ Introduced by Sen. RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to a three phase power revolving loan program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The state finance law is amended by adding a new section 97-u to read as follows: S 97-U. THREE PHASE POWER REVOLVING LOAN PROGRAM. 1. THERE SHALL BE ESTABLISHED IN EACH OF THE FOLLOWING COUNTIES: JEFFERSON, OSWEGO AND ST. LAWRENCE; A REVOLVING LOAN FUND FOR THE PURPOSE OF PROVIDING FARMERS WITH LOW INTEREST LOANS TO UPGRADE THEIR ELECTRICITY TO THREE PHASE POWER. THE DURATION OF SUCH LOW INTEREST LOANS SHALL NOT EXCEED THIRTY YEARS. THE AMOUNT OF FUNDS AVAILABLE FOR THE THREE PHASE POWER REVOLVING LOAN PROGRAM IN EACH COUNTY SHALL BE SUBJECT TO A BUDGETARY APPROPRI- ATION. 2. THE INDUSTRIAL DEVELOPMENT AGENCY IN EACH OF THE THREE COUNTIES THAT ARE PART OF THE THREE PHASE POWER REVOLVING LOAN PROGRAM SHALL PROMULGATE RULES AND REGULATIONS FOR THE PURPOSE OF CARRYING OUT THE PROVISIONS OF THIS SECTION, INCLUDING ESTABLISHING: (A) AN APPLICATION PROCESS WHEREBY FARMERS MAY APPLY FOR LOANS; (B) CRITERIA AND STANDARDS FOR DETERMINING A FARMER'S ELIGIBILITY FOR A LOAN; (C) CRITERIA AND STANDARDS FOR DETERMINING THE PRIORITY TO BE GRANTED AMONG THE THREE PHASE POWER PROJECTS; (D) CRITERIA AND STANDARDS FOR DETERMINING THE AMOUNT OF FINANCIAL ASSISTANCE TO BE PROVIDED TO A FARMER FOR A THREE PHASE POWER PROJECT; AND (E) CRITERIA AND STANDARDS TO BE USED IN DETERMINING THE LOAN REPAY- MENT PERIODS AND THE TERMS OF ANY REPAYMENT AGREEMENTS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10943-01-3
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