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History
- Substituted by S7327A
- Rules report cal.159
- Reported
- Reported referred to rules
- Reported referred to ways and means
- Referred to cities
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Extends the city's energy cost savings program and lower Manhattan energy program
Signed by Governor · Sponsor Frank Padavan
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A11041
Title of bill
An act to amend the general city law and the administra- tive code of the city of New York, in relation to extending the special rebates and discounts provided pursuant to the energy cost savings program and the lower Manhattan energy program
Summary of specific provisions
This bill would amend provisions of the General City Law and the Administrative Code of the City of New York, to extend the sunset date of the City's Energy Cost Savings Program ("ECSP".) and Lower Manhattan Energy Program ("LMEP") to July 1, 2013.
Justification
This bill would amend provisions of ECSP and LMEP to enable the City to continue to provide energy . cost savings to commer- cial and industrial firms, while maintaining the compatibility of these programs with competitive markets, by extending the sunset dates of these programs to July 1, 2013.
ECSP provides benefits, in the form of "special rebates" and "discounts", to firms moving to designated areas of the City or making prescribed levels of investment to expand or upgrade their premises within designated areas of the City. LMEP provides similar benefits to owners of buildings in the Lower Manhattan area and requires that the benefits be passed through to qualified tenants. At the core of both programs is a requirement that the local utility provide eligible bene- ficiaries with a special rebated against their energy bills. (The City pays for the special rebates by giving the utility a credit against its utility tax liability equal to the amount of special rebates granted.) Both programs are designed to stem the loss of industrial and commercial jobs so other regions outside the City, which can offer lower energy costs. These programs also promote the renovation and modernization of older commercial and industrial space, thereby providing an incentive for businesses to relocate to, or to renovate, and/or expand within New York City.
Currently, through ECSP and LMEP, New York City provides energy benefits to over 2,100 businesses that employ over 144,000 individuals within the City's five boroughs. 'The two programs currently save businesses approximately $56 million annually in energy costs (and the programs cost the City approximately $56 million annually in forgone tax reven- ues).
Prior legislative- history
New bill.
Fiscal implications
None to the State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.