Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 12, 2016 |
referred to finance |
Senate Bill S7825
2015-2016 Legislative Session
Sponsored By
(R, C) 53rd Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2015-S7825 (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- State Finance Law
- Laws Affected:
- Add Art 17 ยงยง250 - 258, St Fin L
2015-S7825 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7825 TITLE OF BILL : An act to amend the state finance law, in relation to establishing the gas energy system linked deposit program PURPOSE OF THE BILL : This bill would establish the gas energy system linked deposit program to provide an alternative financing mechanism for eligible borrowers within the state that would like to purchase and install a gas energy system in connection with a conversion to natural gas, which results in a greenhouse gas reduction. SUMMARY OF SPECIFIC PROVISIONS : Adds a new Article 17 to the state finance law to establish the "gas energy system linked deposit program act" for eligible borrowers, defined under the bill as owners of: a single family residential dwelling, a multi-family residential dwelling or a commercial property, which undertakes an eligible project to purchase and install a gas energy system. An eligible project would be the purchase and installation of a gas energy system in connection with a conversion to natural gas which
2015-S7825 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7825 I N S E N A T E May 12, 2016 ___________ Introduced by Sen. GRIFFO -- 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 establishing the gas energy system linked deposit 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 article 17 to read as follows: ARTICLE XVII GAS ENERGY SYSTEM LINKED DEPOSIT PROGRAM ACT SECTION 250. SHORT TITLE. 251. DEFINITIONS. 252. ESTABLISHMENT AND PURPOSE; GAS ENERGY SYSTEM LINKED DEPOSIT PROGRAM AUTHORIZATION. 253. LINKED LOANS. 254. LINKED LOANS INTEREST RATE; LIMITATION ON LENDER'S FEES. 255. APPLICATION PROCEDURE. 256. EARLY MATURITY. 257. MONITORING AND REPORTING. 258. RULES AND REGULATIONS. S 250. SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS THE "GAS ENERGY SYSTEM LINKED DEPOSIT PROGRAM ACT". S 251. DEFINITIONS. WHEN USED IN THIS ARTICLE, UNLESS THE CONTEXT CLEARLY INDICATES OTHERWISE, THE FOLLOWING TERMS SHALL HAVE THE FOLLOW- ING MEANINGS: 1. "CORPORATION" MEANS THE NEW YORK STATE ENERGY RESEARCH AND DEVELOP- MENT AUTHORITY, AS CONTINUED BY SECTION EIGHTEEN HUNDRED FIFTY-TWO OF THE PUBLIC AUTHORITIES LAW. 2. "ELIGIBLE BORROWER" MEANS ANY RECIPIENT WHO IS AN OWNER OF A SINGLE FAMILY RESIDENTIAL DWELLING, OR AN OWNER OF A MULTI-FAMILY RESIDENTIAL DWELLING, OR AN OWNER OF A COMMERCIAL PROPERTY, WHICH UNDERTAKES AN ELIGIBLE PROJECT TO PURCHASE AND INSTALL A GAS ENERGY SYSTEM. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14749-01-6
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