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Assembly Bill A7783

2025-2026 Legislative Session

Relates to letters of credit for siting permits

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2025-A7783 (ACTIVE) - Details

Current Committee:
Assembly Energy
Law Section:
Public Service Law
Laws Affected:
Amd §138, Pub Serv L
Versions Introduced in 2023-2024 Legislative Session:
A10004

2025-A7783 (ACTIVE) - Summary

Directs the office of renewable energy siting and electric transmission to develop a procedure to process letters of credit for siting permits.

2025-A7783 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7783
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 10, 2025
                                ___________
 
 Introduced  by M. of A. STERN -- read once and referred to the Committee
   on Energy
 
 AN ACT to amend the public service law, in  relation  to  requiring  the
   office of renewable energy siting and electric transmission to develop
   a  procedure  to  process  any  financial security or letter of credit
   required by the office

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision 3 of section 138 of the public service law, as
 added by section 11 of part O of chapter 58 of  the  laws  of  2024,  is
 amended to read as follows:
   3.  ORES,  in consultation with the department, shall promulgate rules
 and regulations with respect to all necessary requirements to  implement
 the  siting  permit  program  established in this article and promulgate
 modifications to such rules  and  regulations  as  it  deems  necessary;
 provided that ORES shall promulgate regulations requiring the service of
 applications  on  affected  municipalities  and  political  subdivisions
 simultaneously with submission of an application.  Any  such  rules  and
 regulations,  or  any  amendments  or  modifications  thereto,  shall be
 subject to the approval of the public  service  commission  before  they
 become  effective.  THE  OFFICE SHALL DEVELOP A PROCEDURE TO PROCESS ANY
 FINANCIAL SECURITY OR LETTER OF CREDIT THAT IS REQUIRED BY  THE  OFFICE.
 SUCH  PROCEDURE  SHALL  BE AVAILABLE TO ANY MUNICIPALITY THAT DECIDES TO
 HAVE THE OFFICE PROCESS AND MAINTAIN ANY REQUIRED FINANCIAL SECURITY  OR
 LETTER OF CREDIT IN THEIR PERMITTING PROCESS.
   §  2.  This act shall take effect immediately; provided, however, that
 the amendments to section 138 of the public service law, made by section
 one of this act, shall not affect the repeal of such section  and  shall
 be deemed repealed therewith.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05318-01-5

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