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Senate Bill S5250

2019-2020 Legislative Session

Relates to funds of the power authority of the state of New York; repealer

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Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

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2019-S5250 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
Public Authorities
Laws Affected:
Rpld part TTT §19, Chap 59 of 2019
Versions Introduced in 2021-2022 Legislative Session:
S3727

2019-S5250 (ACTIVE) - Summary

Returns funds of the power authority of the state of New York which were transferred in the budget; requires any funds of the authority which are transferred by law to be used for the purpose of economic development and/or energy rate relief within counties that host renewable generation facilities owned or operated by the power authority.

2019-S5250 (ACTIVE) - Sponsor Memo

2019-S5250 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5250
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              April 18, 2019
                                ___________
 
 Introduced  by  Sen.  ORTT  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN  ACT  relating  to  funds  of the power authority of the state of New
   York, and to repeal section 19 of part TTT of chapter 59 of  the  laws
   of 2019, relating to providing for the administration of certain funds
   and accounts related to the 2019-20 budget, relating thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 19 of part TTT of chapter 59 of the laws  of  2019,
 relating  to  providing  for  the  administration  of  certain funds and
 accounts related to the 2019-20 budget, is REPEALED.
   § 2. Within thirty days of the effective date of this act,  the  comp-
 troller shall return any funds that were transferred pursuant to section
 19  of part TTT of chapter 59 of the laws of 2019 to the power authority
 of the state of New York.
   § 3. Any future transfer of moneys from the  power  authority  of  the
 state  of  New York to any other fund of the state including the general
 fund shall be used for the purpose of economic development and/or energy
 rate relief within counties that host  renewable  generation  facilities
 owned or operated by the power authority of the state of New York.
   § 4. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11276-01-9

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