NY State Senate Bill 2017-S6605

Archive: Last Bill Status - Stricken

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

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 08, 2017	recommit, enacting clause stricken
Jun 06, 2017	referred to rules

2017-S6605 (ACTIVE) - Details

Law Section:: Public Authorities Law
Laws Affected:: Add Art 8 Title 9-B §§1900 - 1906, Pub Auth L; add §99-bb, St Fin L

2017-S6605 (ACTIVE) - Summary

Creates zero carbon emission investment program and fund; proceeds collected from the auction or sale of carbon dioxide emission allowances administered under the regional greenhouse gas initiative shall be used to fund the zero carbon emission investment program.

2017-S6605 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S6605

 TITLE OF BILL :

An act to amend the public authorities law and the state finance law,
in relation to creating the zero carbon emission investment program
and zero carbon emission investment program fund

 PURPOSE OR GENERAL IDEA OF BILL :

This bill would establish the zero carbon emissions investment program
and fund to provide the State's upstate nuclear facilities with funds
in recognition of their zero carbon emitting attributes.

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1 of the bill would add a new title to the public authorities
law directing the public service commission to establish the zero
carbon emission investment program and directing the new york state
energy research and development authority to administer such program.
This section also provides the definitions for the Zero Carbon
Emission Investment Program, authorizes NYSERDA to establish,
calculate, and issue the program to provide awards for zero carbon
emitters for their avoidance of carbon emission although capital
funding from the Regional Greenhouse Gas Initiative, and requires
NYSERDA to submit an annual report to the Governor and Legislature

describing the authority's activities related to the, Zero Carbon
Emission Investment Program.

Section 2 amends the State Finance Law and establishes the Zero Carbon
Emission Investment Program Fund in the joint custody of the
Comptroller and the Commissioner of Taxation and Finance.

Section 3 provides that funds from the sale of Regional Greenhouse Gas
Initiative credits will be used to fund this program.

 JUSTIFICATION :

Nuclear power is a clean and reliable form of electric generation. It
has zero carbon emissions. Renewable sources of power generation are
given financial assistance because of their clean characteristics, and
to ensure New York can meet its renewable targets must offer nuclear
generators similar financial assistance.

This bill would provide nuclear facilities financial assistance, while
not adding another fee or surcharge to the state's ratepayers. New
York State has some of the highest rates in the country, even at a
time of record low costs for energy production. The high rates are a
result of already very substantial added fees and assessments on bills
dedicated to clean energy, which must be first tapped to address this
issue before asking ratepayers to give more of their dollars to this
effort.

 PRIOR LEGISLATIVE HISTORY :

New bill.

 FISCAL IMPLICATIONS :

None to the state.

 EFFECTIVE DATE :
Immediately.

2017-S6605 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6605
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               June 6, 2017
                                ___________
 
 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 public authorities law and the state finance law, in
   relation to creating the zero carbon emission investment  program  and
   zero carbon emission investment program fund

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Article 8 of the  public  authorities  law  is  amended  by
 adding a new title 9-B to read as follows:
                                 TITLE 9-B
                  ZERO CARBON EMISSION INVESTMENT PROGRAM
 SECTION 1900. SHORT TITLE.
         1901. DEFINITIONS.
         1902. ZERO CARBON EMISSION INVESTMENT PROGRAM.
         1903. ADMINISTRATION BY THE AUTHORITY.
         1904. CALCULATION OF AWARDS.
         1905. ANNUAL REPORTING.
         1906. FUNDS ADMINISTRATION.
   § 1900. SHORT TITLE. THIS TITLE SHALL BE KNOWN AND MAY BE CITED AS THE
 "ZERO CARBON EMISSION INVESTMENT PROGRAM".
   §  1901. DEFINITIONS. AS USED IN THIS TITLE, THE FOLLOWING TERMS SHALL
 HAVE THE FOLLOWING MEANINGS:
   1. "AVOIDED EMISSIONS" MEANS THE ESTIMATE OF CO2 EMISSIONS, AS  CALCU-
 LATED  BY  THE AUTHORITY, THAT WOULD HAVE BEEN RELEASED IF A ZERO CARBON
 EMITTER HAD NOT EXISTED.
   2. "AUTHORITY" SHALL HAVE THE SAME MEANING AS IN  SUBDIVISION  TWO  OF
 SECTION EIGHTEEN HUNDRED FIFTY-ONE OF THIS ARTICLE.
   3.  "ZERO  CARBON EMITTER" MEANS A FACILITY THAT USES ATOMIC ENERGY TO
 GENERATE ELECTRICITY.
   4. "ATOMIC ENERGY" MEANS ALL FORMS OF ENERGY RELEASED IN THE COURSE OF
 NUCLEAR FISSION OR NUCLEAR TRANSFORMATION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD13102-03-7

 S. 6605                             2
 
   5. "CLEARING PRICE" MEANS THE AVERAGE OF THE QUARTERLY REGIONAL GREEN-
 HOUSE GAS INITIATIVE AUCTION CLEARING PRICES FOR THE CURRENT YEAR.
   §  1902.  ZERO CARBON EMISSION INVESTMENT PROGRAM. WITHIN THREE MONTHS
 OF THE EFFECTIVE DATE OF THIS TITLE, THE PUBLIC  SERVICE  COMMISSION  IS
 HEREBY  AUTHORIZED  AND  DIRECTED  TO ESTABLISH THE ZERO CARBON EMISSION
 INVESTMENT PROGRAM.
   § 1903. ADMINISTRATION BY THE AUTHORITY.  WITHIN  SIX  MONTHS  OF  THE
 EFFECTIVE  DATE  OF  THIS  TITLE, THE AUTHORITY IS HEREBY AUTHORIZED AND
 DIRECTED TO ADMINISTER THE ZERO CARBON EMISSION INVESTMENT PROGRAM.  THE
 AUTHORITY  SHALL IMPLEMENT THE PROGRAM AS SET FORTH BY THE DEPARTMENT OF
 PUBLIC SERVICE, IN CONSULTATION WITH THE POWER AUTHORITY OF THE STATE OF
 NEW YORK, AND THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION. THE AUTHORI-
 TY IS AUTHORIZED AND DIRECTED TO:
   1. USE MONIES MADE AVAILABLE FOR THE PROGRAM PURSUANT TO SECTION NINE-
 TEEN HUNDRED SIX OF THIS TITLE TO ACHIEVE THE PURPOSES OF  THE  PROGRAM,
 SPECIFICALLY TO AWARD ZERO CARBON EMITTERS FOR AVOIDED EMISSIONS;
   2. ENSURE MONIES ARE MADE AVAILABLE TO QUALIFYING ZERO CARBON EMITTERS
 NO  LESS THAN SIXTY DAYS AFTER THE FINAL QUARTERLY AUCTION OF THAT YEAR;
 AND
   3. EXERCISE SUCH OTHER POWERS AS ARE NECESSARY FOR THE PROPER ADMINIS-
 TRATION OF THE PROGRAM AS DIRECTED AND AUTHORIZED BY THE  DEPARTMENT  OF
 PUBLIC SERVICE.
   § 1904. CALCULATION OF AWARDS. THE AUTHORITY SHALL CALCULATE AND ISSUE
 AN  AWARD  TO  EACH  ZERO  CARBON  EMITTER  IN THE FOLLOWING MANNER: THE
 AUTHORITY SHALL TAKE THE AVERAGE OF THE FOUR QUARTERLY AUCTION  CLEARING
 PRICES  OF  THE MOST RECENT YEAR MULTIPLIED BY FIFTY PERCENT OF THE ZERO
 CARBON EMITTER'S AVOIDED EMISSIONS TO DETERMINE SUCH AWARD. THE AUTHORI-
 TY SHALL CALCULATE THE ANNUAL AVOIDED EMISSIONS FOR EACH FACILITY.
   § 1905. ANNUAL REPORTING. NO LATER THAN OCTOBER  FIRST,  TWO  THOUSAND
 EIGHTEEN AND OCTOBER FIRST OF EACH YEAR THEREAFTER, THE PRESIDENT OF THE
 AUTHORITY  SHALL  ISSUE  AN ANNUAL REPORT TO THE GOVERNOR, THE TEMPORARY
 PRESIDENT OF THE SENATE, THE SPEAKER OF THE ASSEMBLY, THE MINORITY LEAD-
 ER OF THE SENATE AND THE MINORITY LEADER OF THE ASSEMBLY CONCERNING  THE
 AUTHORITY'S  ACTIVITIES  RELATED  TO THE ZERO CARBON EMISSION INVESTMENT
 PROGRAM CREATED PURSUANT TO THIS TITLE.
   § 1906. FUNDS ADMINISTRATION. THE AUTHORITY SHALL ENSURE THAT NOT LESS
 THAN THE TOTAL AWARDS ISSUED TO QUALIFYING ZERO CARBON EMITTERS IS  MADE
 AVAILABLE FOR THE PURPOSE OF FUNDING THE ZERO CARBON EMISSION INVESTMENT
 PROGRAM.  THE  ZERO  CARBON EMISSION INVESTMENT PROGRAM FUND ESTABLISHED
 PURSUANT TO SECTION  NINETY-NINE-BB  OF  THE  STATE  FINANCE  LAW  SHALL
 CONSIST  OF MONIES COLLECTED BY AUCTIONS ADMINISTERED UNDER THE REGIONAL
 GREENHOUSE GAS INITIATIVE.
   § 2. The state finance law is amended by adding a new section 99-bb to
 read as follows:
   § 99-BB. ZERO CARBON EMISSION INVESTMENT PROGRAM  FUND.  1.  THERE  IS
 HEREBY ESTABLISHED IN THE JOINT CUSTODY OF THE STATE COMPTROLLER AND THE
 COMMISSIONER  OF  TAXATION AND FINANCE A SPECIAL FUND TO BE KNOWN AS THE
 "ZERO CARBON EMISSION INVESTMENT PROGRAM FUND". THE MONIES IN SUCH  FUND
 SHALL  BE  AVAILABLE  FOR  THE  ZERO-CARBON  EMISSION INVESTMENT PROGRAM
 PURSUANT TO TITLE NINE-B OF ARTICLE EIGHT OF THE PUBLIC AUTHORITIES LAW.
   2. MONIES IN THE ZERO CARBON EMISSION INVESTMENT PROGRAM FUND SHALL BE
 KEPT SEPARATELY FROM AND SHALL NOT BE COMMINGLED WITH ANY  OTHER  MONIES
 IN THE JOINT OR SOLE CUSTODY OF THE STATE COMPTROLLER OR THE COMMISSION-
 ER  OF TAXATION AND FINANCE. ANY INTEREST RECEIVED BY THE COMPTROLLER ON
 MONEYS DEPOSITED IN THE ZERO CARBON  EMISSION  INVESTMENT  PROGRAM  FUND
 SHALL BE RETAINED IN AND BECOME A PART OF SUCH FUND.

 S. 6605                             3
 
   §  3.  Proceeds  collected  by  the New York state energy research and
 development authority from the auction or sale of carbon  dioxide  emis-
 sion  allowances  administered  under the regional greenhouse gas initi-
 ative shall be used to fund the zero  carbon  emissions  program  estab-
 lished in title 9-B of article 8 of the public authorities law, as added
 by section one of this act.
   §  4.  This act shall take effect immediately, and upon enactment, the
 zero emission credit as part of the clean energy standard as implemented
 by the public service commission shall be deemed null and void,  and  no
 charges shall be assessed against any regulated entity of the department
 of  public  service pursuant to such prior order or if already assessed,
 shall be refunded pro-rata to any rate payer.

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Senate Bill S6605

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Archive: Last Bill Status - Stricken

Actions

2017-S6605 (ACTIVE) - Details

2017-S6605 (ACTIVE) - Summary

2017-S6605 (ACTIVE) - Sponsor Memo

2017-S6605 (ACTIVE) - Bill Text download pdf

Comments

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Sponsored By

Patty Ritchie

Archive: Last Bill Status - Stricken

Actions

2017-S6605 (ACTIVE) - Details

2017-S6605 (ACTIVE) - Summary

2017-S6605 (ACTIVE) - Sponsor Memo

2017-S6605 (ACTIVE) - Bill Text download pdf

Comments