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Assembly Bill A5212

2015-2016 Legislative Session

Relates to a three phase power revolving loan program

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Archive: Last Bill Status - In Assembly Committee

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2015-A5212 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add ยง97-u, St Fin L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7985
2017-2018: A4812
2019-2020: A4889
2021-2022: A4203

2015-A5212 (ACTIVE) - Summary

Relates to a three phase power revolving loan program.

2015-A5212 (ACTIVE) - Bill Text download pdf 

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

                                  5212

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2015
                               ___________

Introduced  by  M. of A. BLANKENBUSH, FINCH, CROUCH, BUTLER -- read once
  and referred to the Committee on Ways and Means

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.
                                                           LBD07665-02-5

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