|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to energy and telecommunications|
|Jun 19, 2013||referred to rules|
senate Bill S5887
Archive: Last Bill Status - In Senate Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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
BILL NUMBER:S5887 TITLE OF BILL: 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 PURPOSE: This legislation creates the northern New York power proceeds allocation board to make recommendations for the allocation of fund benefits or recommendations to the power authority of the State of New York for the allocation of development or preservation power from the Saint Lawrence-FDR project to be used for economic development purposes. SUMMARY OF PROVISIONS: Section 1 of the bill is the short title "northern New York power proceeds allocation act." Section 2 of the bill amends economic development law to create a new Article 6-B to be known as the "northern New York power proceeds allocation act." Section 189-e, provides definitions for purposes of this article, including defining "benefits" or "fund benefits" to be payments to eligible applicants selected by the authority for the funding of development power projects with monies derived from net earnings that have deposited into the northern new York economic development fund.
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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