Senate Bill S6095

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

                                  6095

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            December 14, 2015
                               ___________

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

AN ACT to amend the New York state urban development corporation act, in
  relation to creating the hospital and multiple  dwelling  energy  loan
  fund

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

  Section 1. The legislature hereby finds and declares that the  state's
high  energy  costs are considered a significant burden on hospitals and
multiple dwellings. Therefore, the legislature seeks to provide funds to
reduce high energy costs, via a zero  or  low  interest  loan,  or  loan
interest  rate  reduction  program  for  energy  efficiency  projects to
provide fiscal relief for hospitals and multiple dwellings in the  state
of New York.
  S  2.  Section  1 of chapter 174 of the laws of 1968, constituting the
New York state urban development corporation act, is amended by adding a
new section 16-x to read as follows:
  S 16-X. HOSPITAL AND MULTIPLE DWELLING ENERGY LOAN PROGRAM. 1.   DEFI-
NITIONS. FOR THE PURPOSE OF THIS SECTION:
  (A)  "AUTHORITY"  SHALL  MEAN  THE  NEW YORK STATE ENERGY RESEARCH AND
DEVELOPMENT AUTHORITY AS DEFINED IN SECTION ONE THOUSAND  EIGHT  HUNDRED
FIFTY-ONE OF THE PUBLIC AUTHORITIES LAW.
  (B)  "ECONOMICALLY DISTRESSED AREAS" SHALL MEAN AREAS AS DETERMINED BY
THE CORPORATION,  MEETING  CRITERIA  INDICATIVE  OF  ECONOMIC  DISTRESS,
INCLUDING CONSIDERATION OF UNEMPLOYMENT RATE; RATE OF EMPLOYMENT CHANGE;
NUMBERS AND PERCENTAGES OF LOW-INCOME PERSONS; PER CAPITA INCOME AND PER
CAPITA  REAL  PROPERTY  WEALTH; SUCH OTHER INDICATORS OF DISTRESS AS THE
CORPORATION SHALL DETERMINE. ECONOMICALLY DISTRESSED AREAS  MAY  INCLUDE
DESIGNATIONS  SUCH AS CITIES, MUNICIPALITIES, BLOCK NUMBERING AREAS, AND
CENSUS TRACTS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13308-01-5

              

S. 6095                             2

  (C) "LOAN FUND" SHALL MEAN THE HOSPITAL AND MULTIPLE  DWELLING  ENERGY
LOAN FUND ESTABLISHED PURSUANT TO THIS SECTION.
  (D)  "HOSPITAL" SHALL HAVE THE SAME MEANING AS PROVIDED IN SUBDIVISION
ONE OF SECTION TWO THOUSAND EIGHT HUNDRED ONE OF THE PUBLIC HEALTH LAW.
  (E) "MULTIPLE DWELLING" SHALL HAVE THE SAME  MEANING  AS  PROVIDED  IN
SUBDIVISION SEVEN OF SECTION FOUR OF THE MULTIPLE DWELLING LAW AND SHALL
INCLUDE MULTIPLE DWELLINGS LOCATED IN NEW YORK STATE.
  2.  (A)  THE  CORPORATION, WITH THE ASSISTANCE OF THE AUTHORITY, SHALL
ESTABLISH A HOSPITAL AND MULTIPLE DWELLING ENERGY LOAN FUND  TO  PROVIDE
ZERO  OR  LOW INTEREST LOANS AND LOAN INTEREST RATE REDUCTIONS TO HOSPI-
TALS AND MULTIPLE DWELLINGS IN BOTH ECONOMICALLY  DISTRESSED  AREAS  AND
NON-ECONOMICALLY   DISTRESSED  AREAS  STATEWIDE  FOR  ENERGY  EFFICIENCY
PROJECTS AND ADVANCED ENERGY TECHNOLOGIES.
  (B) IN ORDER TO BE ELIGIBLE  TO  PARTICIPATE  IN  THIS  LOAN  PROGRAM,
HOSPITALS  AND  MULTIPLE DWELLINGS IN BOTH ECONOMICALLY DISTRESSED AREAS
AND NON-ECONOMICALLY DISTRESSED AREAS  STATEWIDE  MUST  HAVE  AN  ENERGY
AUDIT  PROVIDED  THROUGH THE AUTHORITY'S ENERGY AUDIT PROGRAM THAT MAKES
INFORMED ELECTRICAL ENERGY DECISIONS  AND  IMPLEMENT  ENERGY  EFFICIENCY
STRATEGIES.  TECHNOLOGIES IDENTIFIED IN SUCH AUDIT SHALL BECOME ELIGIBLE
TECHNOLOGIES FOR WHICH MONIES FOR THE LOAN FUND MAY BE AVAILABLE.
  3. (A) THE CORPORATION SHALL, WITHIN AVAILABLE APPROPRIATIONS, PROVIDE
FINANCIAL ASSISTANCE FROM THE LOAN FUND TO ELIGIBLE HOSPITALS AND MULTI-
PLE DWELLINGS IN BOTH ECONOMICALLY DISTRESSED AREAS AND NON-ECONOMICALLY
DISTRESSED AREAS STATEWIDE.
  (B)  THE  CORPORATION  IS  AUTHORIZED  TO PROVIDE ZERO OR LOW INTEREST
LOANS FROM THE LOAN FUND FOR ELIGIBLE IMPROVEMENTS. TO BE  ELIGIBLE  FOR
SUCH  LOANS,  A  HOSPITAL  AND MULTIPLE DWELLING IN BOTH AN ECONOMICALLY
DISTRESSED AREA AND NON-ECONOMICALLY  DISTRESSED  AREA  STATEWIDE  SHALL
IDENTIFY  AN ELIGIBLE IMPROVEMENT PROJECT AND PROVIDE NECESSARY DOCUMEN-
TATION.  HOSPITALS  AND  MULTIPLE  DWELLINGS   BASED   IN   ECONOMICALLY
DISTRESSED  AREAS  STATEWIDE SHALL RECEIVE AT LEAST SIXTY PERCENT OF THE
TOTAL DOLLAR AMOUNT OF LOANS PROVIDED  TO  ALL  HOSPITALS  AND  MULTIPLE
DWELLINGS IN A GIVEN YEAR FROM THE HOSPITAL AND MULTIPLE DWELLING ENERGY
LOAN FUND.
  (C)(I)  THE  CORPORATION  IS  AUTHORIZED TO PROVIDE LOAN INTEREST RATE
REDUCTIONS FROM THE LOAN FUND FOR ELIGIBLE IMPROVEMENTS. TO BE  ELIGIBLE
FOR AN INTEREST RATE REDUCTION, A HOSPITAL AND MULTIPLE DWELLING IN BOTH
AN  ECONOMICALLY  DISTRESSED  AREA  AND NON-ECONOMICALLY DISTRESSED AREA
STATEWIDE SHALL:
  (1) IDENTIFY AN ELIGIBLE IMPROVEMENT  PROJECT  AND  PROVIDE  NECESSARY
DOCUMENTATION,  AND  (2)  RECEIVE A LOAN COMMITMENT FROM A PARTICIPATING
LENDER, INCLUDING BANKS, CREDIT UNIONS, COMMUNITY DEVELOPMENT  FINANCIAL
INSTITUTIONS, AND FARM CREDIT ASSOCIATIONS.
  (II) THE CORPORATION IS AUTHORIZED TO BUY DOWN THE PARTICIPATING LEND-
ER'S  INTEREST  RATE  BY UP TO FOUR HUNDRED BASIS POINTS OR FOUR PERCENT
THROUGH THE LOAN FUND. SUCH INTEREST RATE REDUCTIONS SHALL BE  AVAILABLE
FOR THE LESSER OF TEN YEARS OR THE LIFE OF THE LOAN.
  (D)  LOANS  PROVIDED  BY  THE CORPORATION OR ISSUED BY A PARTICIPATING
LENDER SHALL NOT EXCEED ONE HUNDRED THOUSAND DOLLARS.
  4. ENERGY EFFICIENCY IMPROVEMENTS ELIGIBLE FOR ZERO  OR  LOW  INTEREST
LOANS  OR  LOAN  INTEREST  RATE  REDUCTIONS  THROUGH THE LOAN FUND SHALL
INCLUDE, BUT NOT BE LIMITED TO:
  (A) PRE-QUALIFIED MEASURES THAT ARE PROVEN COST EFFECTIVE  INVESTMENTS
WHICH REDUCE ENERGY USE;
  (B)  CUSTOM  MEASURES  THAT  PAY  FOR  THEMSELVES IN TEN YEARS THROUGH
REDUCED ENERGY USE;

S. 6095                             3

  (C) PROCESS IMPROVEMENT MEASURES THAT REDUCE MANUFACTURING ENERGY  USE
ON A COST-PER-UNIT BASIS; AND
  (D)  RENEWABLE TECHNOLOGIES THAT USE THE SUN, WIND, WATER OR GROUND TO
GENERATE HEAT OR POWER.
  5. APPLICATIONS FOR ASSISTANCE  PURSUANT  TO  THIS  SECTION  SHALL  BE
REVIEWED  AND  EVALUATED  BY  THE  CORPORATION  IN  COOPERATION WITH THE
AUTHORITY PURSUANT TO ELIGIBILITY REQUIREMENTS AND CRITERIA SET FORTH IN
THE RULES AND REGULATIONS PROMULGATED BY THE CORPORATION.
  6. THE CORPORATION AND THE AUTHORITY SHALL SUBMIT  AN  ANNUAL  WRITTEN
REPORT TO THE SPEAKER OF THE ASSEMBLY AND THE TEMPORARY PRESIDENT OF THE
SENATE  IDENTIFYING  THE  NUMBER  OF  HOSPITALS  AND  MULTIPLE DWELLINGS
ASSISTED THROUGH THE LOAN FUND PROGRAM, AND THE  TYPES  OF  IMPROVEMENTS
IMPLEMENTED AND ENERGY COST SAVINGS REALIZED BY THE HOSPITALS AND MULTI-
PLE DWELLINGS ASSISTED BY THIS PROGRAM.
  S  3.  Paragraph  (m) of subdivision 1 of section 16-m of section 1 of
chapter 174 of the laws of 1968, constituting the New York  state  urban
development  corporation  act,  as  added  by chapter 467 of the laws of
2011, is amended and a new paragraph (o) is added to read as follows:
  (m) Assistance to businesses that conduct basic, applied  or  transla-
tional  research  that leads to the development of products that improve
human health or agriculture and that require  approval  by  the  federal
food  and  drug administration, in order to create or expand facilities,
in accordance with good manufacturing practice  regulations,  that  will
create  or  retain more than fifty jobs. For purposes of this paragraph,
good manufacturing practice  regulations  refers  to  those  regulations
promulgated  by the United States Food and Drug Administration under the
authority of the Federal Food, Drug and Cosmetic Act[.];
  (O) LOANS, LOAN GUARANTEES, INTEREST SUBSIDY GRANTS AND DIRECT  GRANTS
TO  HOSPITALS AND MULTIPLE DWELLINGS UNDER SECTION SIXTEEN-X OF THIS ACT
FOR ENERGY EFFICIENCY PROJECTS AND ADVANCED ENERGY TECHNOLOGIES.
  S 4. This act shall take effect immediately, provided,  however,  that
the  amendments  to section 16-m of the New York state urban development
corporation act made by section three of this act shall not  affect  the
expiration of such section and shall expire and be deemed repealed ther-
ewith.