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Who cares
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Sponsors
7 Co-sponsors
1 Multi-sponsor
History
- Signed chap.436
- Delivered to governor
- Returned to assembly
- Passed senateVote 52–8
- 3rd reading cal.1220
- Substituted for S5783A
- Referred to rules
- Delivered to senate
- Passed assembly
- Ordered to third reading rules cal.177
- Rules report cal.177
- Reported
Show 5 earlier actions
- Reported referred to rules
- Referred to energy
- Print number 8712a
- Amend (t) and recommit to energy
- Referred to energy
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.
Authorizes unallocated EP/RP and a percentage of relinquished or withdrawn EP/RP to be allocated for western NY economic development fund benefits
Senate Floor Calendar · Sponsor William T. Stachowski
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A8712A
Title of bill
An act to amend the public authorities law and the economic development law, in relation to authorizing unallocated expan- sion or replacement power to be allocated for western New York economic development fund benefits
Purpose
The creation of this economic development fund currently has a model within the existing statute under energy cost savings benefits program. Since this would comply with the intent under section 1005 of the Public Authorities Law, this fund would simply expand NYPA's abili- ties to assist with the economic development in Western New York.
Summary of provisions
Section 2 Gives the Authority authorization to allocate unallocated and relinquished or withdrawn expansion and replacement power to be used for Western New York economic development fund benefits.
Section 3 Defines eligibility criteria for qualification for such allo- cations
Justification
Under Section 1005 of the Public Authorities Law, a designated amount of expansion and replacement power must be allocated to businesses located within 30 miles of the Niagara Power Project. A large amount of this expansion/replacement power is unallocated, due to a combination of factors, including business closure and portions of allocations being returned to NYPA by companies unable to meet the criteria for that allocation.
In addition to this unallocated power is the allocated but not yet utilized allocation. When expansion/replacement contracts are authorized by NYPA, the contracts have a stipulation that allocations be utilized within a certain period of time. During this time period, while the power can not be allocated to another company, it is sold at market rate until the company is ready to draw down their allocation.
This bill designates that the proceeds form the sale of this unallocated power and allocated but not yet being utilized power be placed into an economic development fund for Western New York. Utilization of this funding for Western New York abides by the intent of section 1005, which designates the expansion/replacement power be allocated within 30 miles of the Niagara Power Project.
Legislative history
2009: This is a New Bill
Fiscal implications
None to the state
Effective date
This Law would take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.