Senate Bill S8226

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8226
 
                             I N  S E N A T E
 
                              April 19, 2018
                                ___________
 
 Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
   when printed to be committed to the Committee on Corporations, Author-
   ities and Commissions
 
 AN ACT to amend the public authorities law, in relation to  applications
   for the approval and construction of energy-related projects
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivisions 1 and 3 of section 51 of the  public  authori-
 ties  law,  subdivisions  1 and 3 as added by chapter 838 of the laws of
 1983, paragraph k of subdivision 1 as added by chapter 506 of  the  laws
 of  1995,  paragraph  l  of subdivision 1 as added by chapter 468 of the
 laws of 2004, paragraph m of subdivision 1 as added  by  section  10  of
 part  E  of chapter 494 of the laws of 2009, and paragraph n of subdivi-
 sion 1 as added by chapter 533 of the laws of 2010, are amended to  read
 as follows:
   1.  The New York state public authorities control board shall have the
 power and it shall be its duty to receive applications for  approval  of
 the  financing  and  construction  of any project proposed by any of the
 following state public benefit corporations:
   a. New York state environmental facilities corporation
   b. New York state housing finance agency
   c. New York state medical care facilities finance agency
   d. Dormitory authority
   e. New York state urban development corporation
   f. Job development authority
   g. Battery park city authority
   h. New York state project finance agency
   i. State of New York mortgage agency
   j. New York state energy research and development authority
   k. Long Island Power Authority
   l. Albany Convention Center Authority
   m. State of New York Municipal  Bond  Bank  Agency  for  bonds  issued
 pursuant to section two thousand four hundred thirty-six-b of this chap-
 ter
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD09569-02-8

 S. 8226                             2
 
   n. North Country Power Authority
   O. POWER AUTHORITY OF THE STATE OF NEW YORK
 Any  application  made  concerning  a  project  shall include the terms,
 conditions and dates of the repayment of state appropriations authorized
 by law pursuant to a repayment agreement. Any subsidiary of,  or  corpo-
 ration  with  the  same members or directors as, a public benefit corpo-
 ration subject to the provisions of this section shall also  be  subject
 to  the  provisions of this section. All applications and submissions to
 the board required to be made by a subsidiary shall be made on behalf of
 such subsidiary by the public  benefit  corporation  which  created  the
 subsidiary.  No  public benefit corporation subject to the provisions of
 this section shall make any commitment,  enter  into  any  agreement  or
 incur  any  indebtedness  for the purpose of acquiring, constructing, or
 financing any project unless prior approval has been received  from  the
 board by such public benefit corporation as provided herein.
   3.  The  board  may  approve  applications only upon its determination
 that, with relation to any proposed project, there  are  commitments  of
 funds  sufficient  to  finance  the acquisition and construction of such
 project.  In determining the sufficiency of commitments  of  funds,  the
 board  may  consider  commitments of funds, projections of fees or other
 revenues and security, which  may,  in  the  discretion  of  the  board,
 include collateral security sufficient to retire a proposed indebtedness
 or  protect  or  indemnify  against potential liabilities proposed to be
 undertaken. IN REVIEWING AN  APPLICATION  FROM  THE  LONG  ISLAND  POWER
 AUTHORITY,  THE  NORTH COUNTRY POWER AUTHORITY OR THE POWER AUTHORITY OF
 THE STATE OF NEW YORK FOR THE APPROVAL OF ANY PROJECT RELATED TO  ENERGY
 GENERATION  OR  TRANSMISSION, IN ADDITION TO DETERMINING THE SUFFICIENCY
 OF COMMITMENTS OF FUNDS AND ANY OTHER REQUIRED REVIEWS,  THE  BOARD  MAY
 CONSIDER  THE  CONSISTENCY  OF THE PROJECT WITH THE CURRENT STATE ENERGY
 PLAN AND OTHER STATE ENVIRONMENTAL AND ENERGY-RELATED POLICIES.  A  copy
 of  such determination shall be submitted to the chief executive officer
 of the appropriate public benefit corporation and the state comptroller.
   § 2. The public authorities law is amended by  adding  a  new  section
 1005-e to read as follows:
   §  1005-E.  APPROVAL  OF  CERTAIN  ACTIONS  BY  THE PUBLIC AUTHORITIES
 CONTROL BOARD. THE AUTHORITY SHALL NOT MAKE ANY COMMITMENT,  ENTER  INTO
 ANY  AGREEMENT NOR INCUR ANY INDEBTEDNESS UNLESS PRIOR APPROVAL HAS BEEN
 RECEIVED FROM THE NEW YORK STATE PUBLIC AUTHORITIES CONTROL BOARD PURSU-
 ANT TO ARTICLE ONE-A OF THIS CHAPTER.
   § 3. This act shall take effect immediately.