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Assembly Bill A9224

2025-2026 Legislative Session

Authorizes the New York State Energy Research and Development Authority to loan money to utility companies for purposes of capital expenditures

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Current Bill Status - In Assembly Committee

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2025-A9224 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Amd §1854, Pub Auth L

2025-A9224 (ACTIVE) - Summary

Authorizes the New York State Energy Research and Development Authority to loan money to utility companies for purposes of capital expenditures; authorizes the issuance of bonds.

2025-A9224 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9224
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 3, 2025
                                ___________
 
 Introduced by M. of A. JACOBSON -- read once and referred to the Commit-
   tee on Corporations, Authorities and Commissions
 
 AN  ACT  to amend the public authorities law, in relation to authorizing
   the New York State Energy Research and Development Authority  to  loan
   money to utility companies for purposes of capital expenditures

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1854 of the public authorities law  is  amended  by
 adding a new subdivision 27 to read as follows:
   27.  (A)  TO  LOAN  MONEY TO UTILITY COMPANIES FOR PURPOSES OF CAPITAL
 EXPENDITURES. THE AUTHORITY SHALL MAKE SUCH LOANS AT AN INTEREST RATE NO
 MORE THAN ONE PERCENT ABOVE THE INTEREST RATE AT  WHICH  THE  BONDS  FOR
 THIS  PURPOSE  WERE  ISSUED.  FOR PURPOSES OF THIS SUBDIVISION, THE TERM
 UTILITY COMPANIES SHALL MEAN THOSE UTILITIES  REGULATED  BY  THE  PUBLIC
 SERVICE COMMISSION.
   (B)  THE  AUTHORITY  IS AUTHORIZED TO ISSUE BONDS SPECIFICALLY FOR THE
 PURPOSE OF FUNDING THE LOANS DESCRIBED IN PARAGRAPH (A) OF THIS SUBDIVI-
 SION.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law. Effective immediately, the addition, amendment and/or
 repeal  of  any  rule  or regulation necessary for the implementation of
 this act on its effective date are authorized to be made  and  completed
 on or before such effective date.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13940-01-5

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