S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6162
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 3, 2023
                                ___________
 
 Introduced by M. of A. HUNTER -- read once and referred to the Committee
   on Energy
 
 AN  ACT  to amend the general municipal law, in relation to limiting the
   municipal sustainable energy loan program to entities  which  are  not
   individuals
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 119-ee of the general municipal law,  as  added  by
 chapter 497 of the laws of 2009, is amended to read as follows:
   §  119-ee.  Legislative  findings  and declaration. [The] ACCORDING TO
 ARTICLE SEVENTY-FIVE OF THE ENVIRONMENTAL CONSERVATION LAW, THE legisla-
 ture finds and declares that it is the policy of the  state  to  achieve
 statewide  energy  efficiency  and renewable energy goals, reduce green-
 house gas emissions and mitigate the effect of  global  climate  change,
 and  advance a clean energy economy; and that to achieve such policy and
 goals the state must promote the deployment of renewable energy  systems
 and  energy  efficiency  measures throughout the state; and that munici-
 palities would fulfill an important public purpose by providing loans to
 COMMERCIAL property owners for  the  installation  of  renewable  energy
 systems and energy efficiency measures.
   § 2. Subdivisions 2 and 6 of section 119-gg the general municipal law,
 subdivision  2 as added by chapter 497 of the laws of 2009, and subdivi-
 sion 6 as amended by chapter 320 of the laws of  2017,  are  amended  to
 read as follows:
   2. Such program may make loans to the owners of real property THAT ARE
 A  COMMERCIAL  ENTITY, NOT-FOR-PROFIT ORGANIZATION, OR ENTITY OTHER THAN
 AN INDIVIDUAL located within the municipal corporation  to  finance  the
 installation  of renewable energy systems and energy efficiency improve-
 ments, related energy audits and  renewable  energy  system  feasibility
 studies,  and  the  verification of the installation of such systems and
 improvements. No municipal corporation shall make  such  a  loan  to  an
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08608-01-3
              

 A. 6162                             2
 
 owner of property that has received a loan from another municipal corpo-
 ration pursuant to this article.
   6.  [a.  For loans made to an owner of real property that is a commer-
 cial entity, not-for-profit organization, or entity other than an  indi-
 vidual,  the]  THE  municipal  corporation  shall  have the authority to
 impose requirements on the maximum amount that may be  borrowed  through
 such  loan,  which may consider factors including but not limited to the
 property value, projected savings, project cost,  and  existing  indebt-
 edness secured by such property.
   [b.  For loans made to an owner of real property who is an individual,
 the principal amount of each such loan, excluding  interest,  shall  not
 exceed the lesser of ten percent of the appraised real property value or
 the  actual  cost  of  installing the renewable energy system and energy
 efficiency improvements, including the  costs  of  necessary  equipment,
 materials, and labor, the costs of each related energy audit and renewa-
 ble  energy  system  feasibility  study, and the cost of verification of
 such renewable energy system and energy efficiency improvements.]
   § 3. This act shall take effect immediately.