assembly Bill A7389A

2021-2022 Legislative Session

Establishes a moratorium on consolidated operations that use proof-of-work authentication methods to validate blockchain transactions

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Sponsored By

Current Bill Status - In Assembly 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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 04, 2021 print number 7389a
Jun 04, 2021 amend (t) and recommit to environmental conservation
May 20, 2021 reference changed to environmental conservation
May 06, 2021 referred to banks

Co-Sponsors

view additional co-sponsors

A7389 - Details

See Senate Version of this Bill:
S6486
Current Committee:
Assembly Environmental Conservation
Law Section:
Banks
Laws Affected:
Add §19-0329, En Con L

A7389 - Summary

Establishes a moratorium on consolidated operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.

A7389 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7389
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 6, 2021
                                ___________
 
 Introduced  by  M.  of  A.  KELLES, ENGLEBRIGHT, LUPARDO, THIELE, GLICK,
   MAGNARELLI, EPSTEIN, BURDICK, STECK, J. D. RIVERA, CLARK, NIOU -- read
   once and referred to the Committee on Banks
 
 AN ACT to establish a moratorium  on  the  operation  of  cryptocurrency
   mining  centers;  and providing for the repeal of such provisions upon
   expiration thereof

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.    Legislative  findings. The legislature hereby finds and
 declares that:
   (a) Climate change threatens the health, welfare, and economy  of  the
 state with increasingly severe and widespread impacts to our communities
 due  to  flooding,  sea level rise, heat waves, coastal erosion, erratic
 and unpredictable weather patterns, shifting climactic  zones,  loss  of
 wildlife,  increased  harmful  algal  blooms  and  invasive species, and
 increased risk of disease, in part, which  leads  directly  to  loss  of
 life,  property  damage  and  reduction in value, ecological damage, and
 increased infrastructure costs;
   (b) It is the policy of the State of New York to conserve, improve and
 protect its natural resources and environment and to prevent, abate  and
 control  water,  land and air pollution, in order to enhance the health,
 safety and welfare of the people of the state and their overall economic
 and social well-being;
   (c) To mitigate the current and future effects of climate change,  the
 State  of  New  York  implemented  the  Climate Leadership and Community
 Protection Act, requiring that statewide  greenhouse  gas  emissions  be
 reduced  eighty-five  percent  by  2050  and that the state has net zero
 emissions in all sectors of the economy by that time;
   (d) Cryptocurrency mining centers are an  expanding  industry  in  the
 State  of  New  York,  often, but not exclusively, located in retired or
 converted fossil fuel power stations, including dormant peaker plants;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

A7389A (ACTIVE) - Details

See Senate Version of this Bill:
S6486
Current Committee:
Assembly Environmental Conservation
Law Section:
Banks
Laws Affected:
Add §19-0329, En Con L

A7389A (ACTIVE) - Summary

Establishes a moratorium on consolidated operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.

A7389A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7389--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                May 6, 2021
                                ___________
 
 Introduced  by  M.  of  A.  KELLES, ENGLEBRIGHT, LUPARDO, THIELE, GLICK,
   MAGNARELLI, EPSTEIN, BURDICK, STECK, J. D. RIVERA, CLARK, NIOU,  FAHY,
   WALLACE, BARRETT, CARROLL, L. ROSENTHAL, HEVESI, SEAWRIGHT, GALLAGHER,
   GONZALEZ-ROJAS,  DE LA ROSA,  BURKE, PICHARDO, STIRPE, MAMDANI, SIMON,
   GRIFFIN, ANDERSON -- read once and referred to the Committee on  Banks
   -- reference changed to the Committee on Environmental Conservation --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee
 
 AN ACT to amend the  environmental  conservation  law,  in  relation  to
   establishing  a  moratorium on consolidated operations that use proof-
   of-work authentication methods to  validate  blockchain  transactions;
   and  to require a comprehensive generic environmental impact statement
   review
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.    Legislative  findings. The legislature hereby finds and
 declares that:
   (a) Climate change threatens the health, welfare, and economy  of  the
 state with increasingly severe and widespread impacts to our communities
 due  to  flooding,  sea level rise, heat waves, coastal erosion, erratic
 and unpredictable weather patterns, shifting  climatic  zones,  loss  of
 wildlife,  increased  harmful  algal  blooms  and  invasive species, and
 increased risk of disease, in part, which  leads  directly  to  loss  of
 life,  property  damage  and  reduction in value, ecological damage, and
 increased infrastructure costs;
   (b) It is the policy of the State of New York to conserve, improve and
 protect its natural resources and environment and to prevent, abate  and
 control  water,  land and air pollution, in order to enhance the health,
 safety and welfare of the people of the state and their overall economic
 and social well-being;
   (c) To mitigate the current and future effects of climate change,  the
 State  of  New  York  implemented  the  Climate Leadership and Community
 Protection Act, requiring that statewide  greenhouse  gas  emissions  be