senate Bill S5887

2013-2014 Legislative Session

Enacts the northern New York power proceeds allocation act

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to energy and telecommunications
Jun 19, 2013 referred to rules

S5887 - Details

Current Committee:
Law Section:
Economic Development Law
Laws Affected:
Add Art 6-B §§189-e - 189-h, Ec Dev L; amd §1005, Pub Auth L

S5887 - Summary

Enacts the northern New York power proceeds allocation act; establishes the northern New York power proceeds allocation board to allocate preservation power net earnings and development power net earnings for eligible preservation power projects and eligible development power projects.

S5887 - Sponsor Memo

S5887 - Bill Text download pdf

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

                                  5887

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 19, 2013
                               ___________

Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the economic development law and the public  authorities
  law,  in  relation  to  enacting  the northern New York power proceeds
  allocation act

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

  Section  1.  Short  title. This act shall be known and may be cited as
the "northern New York power proceeds allocation act".
  S 2. The economic development law is amended by adding a  new  article
6-B to read as follows:
                               ARTICLE 6-B
             NORTHERN NEW YORK POWER PROCEEDS ALLOCATION ACT
SECTION 189-E. DEFINITIONS.
        189-F. THE NORTHERN NEW YORK POWER PROCEEDS ALLOCATION BOARD.
        189-G. GENERAL POWERS AND DUTIES OF THE BOARD.
        189-H. RULES AND REGULATIONS.
  S  189-E. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  1. "AUTHORITY" IS THE POWER AUTHORITY OF THE STATE OF NEW YORK.
  2. "BOARD" IS THE NORTHERN NEW YORK POWER  PROCEEDS  ALLOCATION  BOARD
CREATED BY THIS ARTICLE.
  3.  "BENEFITS"  OR "FUND BENEFITS" ARE PAYMENTS TO ELIGIBLE APPLICANTS
SELECTED BY THE AUTHORITY FOR THE PURPOSE OF FUNDING  ELIGIBLE  DEVELOP-
MENT POWER PROJECTS WITH MONIES DERIVED FROM NET EARNINGS THAT HAVE BEEN
DEPOSITED INTO THE NORTHERN NEW YORK ECONOMIC DEVELOPMENT FUND.
  4.   "ELIGIBLE  APPLICANT"  MEANS  A  PRIVATE  BUSINESS,  INCLUDING  A
NOT-FOR-PROFIT CORPORATION WITH THE EXCEPTION OF  QUALIFIED  TRANSPORTA-
TION  CAPACITY EXPANSION PROJECTS WHERE A PUBLIC ENTITY MAY BE AN ELIGI-
BLE APPLICANT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11545-01-3

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