|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2020||referred to energy and telecommunications|
|Dec 20, 2019||referred to rules|
senate Bill S6916
Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6916 (ACTIVE) - Details
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
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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