Assembly Bill A4889

2019-2020 Legislative Session

Relates to a three phase power revolving loan program

download bill text pdf

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Archive: Last Bill Status - In Assembly 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

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2019-A4889 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
State Finance Law
Laws Affected:
Add §97-u, St Fin L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7985
2015-2016: A5212
2017-2018: A4812
2021-2022: A4203

2019-A4889 (ACTIVE) - Summary

Relates to a three phase power revolving loan program.

2019-A4889 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4889
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 5, 2019
                                ___________
 
 Introduced  by  M.  of  A.  BLANKENBUSH,  FINCH, CROUCH -- 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:
   §  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.
                                                            LBD09149-01-9
              

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