senate Bill S6916

2019-2020 Legislative Session

Relates to the amount of St. Lawrence county economic development power that may be used by the New York Power Authority to generate net earnings

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to energy and telecommunications
Dec 20, 2019 referred to rules

S6916 (ACTIVE) - Details

Current Committee:
Senate Energy And Telecommunications
Law Section:
Public Authorities Law
Laws Affected:
Amd §1005, Pub Auth L
Versions Introduced in 2021-2022 Legislative Session:
S4261

S6916 (ACTIVE) - Summary

Relates to the amount of St. Lawrence county economic development power that may be used by the New York Power Authority to generate net earnings.

S6916 (ACTIVE) - Sponsor Memo

S6916 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6916

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            December 20, 2019
                               ___________

Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the public authorities law, in relation to the amount of
  St. Lawrence county economic development power that may be used by the
  New York Power Authority to generate net earnings

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph  (c)  of  subdivision 24 of section 1005 of the
public authorities law, as added by chapter 545 of the laws of 2014,  is
amended to read as follows:
  (c) The authority shall establish an account to be known as the north-
ern  New  York  economic development fund, which shall consist solely of
net earnings. The authority, as determined to be feasible and  advisable
by  the  trustees, shall deposit net earnings into the fund no less than
quarterly, provided, however, that the amount  of  St.  Lawrence  county
economic development power that may be used by the authority to generate
net  earnings  shall  not  exceed  the lesser of twenty megawatts or the
amount of St. Lawrence county economic development power  that  has  not
been  allocated  by  the authority under the authority-TMED contract for
sub-allocations[, and provided further that beginning  five  years  from
the effective date of this subdivision, the amount of St. Lawrence coun-
ty  economic  development  power  that  may  be used by the authority to
generate net earnings shall not exceed the lesser of  ten  megawatts  or
the  amount  of  St. Lawrence county economic development power that has
not been allocated by the authority under  the  authority-TMED  contract
for sub-allocations]. At least fifteen percent of net earnings paid into
the fund shall be dedicated to eligible projects which are energy-relat-
ed  projects,  programs and services as such term is defined in subpara-
graph two of paragraph (b) of subdivision seventeen of this section.  In
addition  to  funding  eligible projects, the authority may use northern
New York economic development fund monies to cover reasonable costs  and

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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