Senator Thompson Passes Municipal Energy Sustainable Loan Program Legislation

Antoine M Thompson

November 18, 2009

For Immediate Release: November 17, 2009
Contact: Heather Zeisz | | 716.854.8705

Albany, NY – Yesterday, November 16, 2009, New York State Senator Antoine M. Thompson (D-Parts of Erie & Niagara Counties) along with the New York State Senate, passed his municipal energy sustainable loan program legislation Bill # S.66004-A.

"As Chair of the Environmental Conservation Committee, I am happy to see that the Senate has moved forward on this bill. This legislation supports job creation and saving money and is another stepping stone on the way to a greener New York,” said Senator Antoine Thompson.

Taking another significant step toward a cleaner, greener and more energy efficient New York, this bill enables property owners to lower energy costs, reduce greenhouse gas emissions and reduce dependence on fossil fuels. 
•         Allows municipalities to provide property owners with loans to install renewable energy systems and energy efficiency measures.
•         Municipalities would establish loan programs using federal grant assistance or federal credit support. 
•         Municipalities issue a small municipal bond to provide up-front funding to commercial or residential property owners to finance energy retrofits to their properties . 
•         The loans would be repaid via assessments on the property owners' annual property tax bills.