NY State Senate Bill 2019-S6916

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

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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to energy and telecommunications
Dec 20, 2019	referred to rules

2019-S6916 (ACTIVE) - Details

Current Committee:: Senate Energy And Telecommunications
Law Section:: Public Authorities Law
Laws Affected:: Amd §1005, Pub Auth L
Versions Introduced in Other Legislative Sessions:: 2021-2022: S4261
2023-2024: S4876

2019-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.

2019-S6916 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S6916

SPONSOR: GRIFFO
 
TITLE OF BILL:

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

 
PURPOSE OR GENERAL IDEA OF BILL:

The purpose of this bill is to extend, for an indefinite period of time,
the program funded by the sale of certain unallocated hydropower
produced by the Power Authority of the State of New York (NYPA) at its
St. Lawrence-FDR Power Project to support economic development in St.
Lawrence County.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 of the bill removes from statute the reduction from 20 mega-
watts to ten megawatts that is eligible for monetization for economic

development purposes in St. Lawrence County; this allows for 20 mega-
watts to be monetized indefinitely.

Section 2 marks the effective date.

 
JUSTIFICATION:

In 2014, per an agreement between the county of St. Lawrence, the gover-
nor of the state of New York and the New York Power Authority (NYPA),
the Legislature passed and the governor signed into law the Northern New
York Power Proceeds Allocation Act. The program was based on the previ-
ously enacted Western New York Power Proceeds Allocation Act.

The program was created to support eligible economic development
projects located or proposed to be located in St. Lawrence County by
eligible applicants. The program is funded by the sale of certain unal-
located hydropower produced by NYPA at its St. Lawrence-FDR Power
Project, which has been made available to the Town of Massena electric
Department under a contract with NYPA entered into in 2012 entitled
"Agreement Governing the Sale of St. Lawrence-PDR Project Power and
Energy" to the Town of Massena Electric Department for Economic Develop-
ment Purposes."

As of December 29, 2019, the megawatts eligible to be monetized for the
purposes of economic development in St. Lawrence County has be reduced
to ten. This bill would remove the provision of law that resulted in
this reduction, restore the 20 megawatts that existed from 2014 to the
end of 2019, and provide for that megawatt monetization level to contin-
ue in perpetuity.

 
PRIOR LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2019-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.

                                                            LBD14526-01-9

 S. 6916                             2
 
 expenses  of  the authority related to the management and administration
 of the northern New York power proceeds allocation  program  created  by
 article seven-A of the economic development law.
   § 2. This act shall take effect immediately.

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