Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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May 11, 2022 | held for consideration in energy |
Jan 05, 2022 | referred to energy |
Mar 10, 2021 | referred to energy |
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
Co-Sponsors
Kenneth Blankenbush
Robert Smullen
Billy Jones
A6206 (ACTIVE) - Details
A6206 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6206 2021-2022 Regular Sessions I N A S S E M B L Y March 10, 2021 ___________ Introduced by M. of A. WALCZYK -- read once and referred to the Commit- tee on Energy 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.