Extends provisions of law relating to low cost power to foster statewide economic development

4 Co-sponsors

• Sheldon Silver
• Herman D. Farrell
• Susan John
• Thomas F. O'Mara

39 Multi-sponsors

• Marc Alessi
• George Amedore
• Greg Ball
• Michael Benedetto
• William Boyland
• Joan Christensen
• Barbara Clark
• William Colton
• Marcos Crespo
• RoAnn Destito
• Patricia Eddington
• Steven Englebright
• Gary Finch
• Dennis H. Gabryszak
• Sandy Galef
• Timothy P. Gordon
• Rhoda Jacobs
• Ellen C. Jaffee
• David Koon
• Rory Lancman
• George Latimer
• Charles Lavine
• Barbara Lifton
• Donna Lupardo
• Margaret Markey
• Marcus Molinaro
• Audrey Pheffer
• Jack Quinn III
• Philip Ramos
• Robert Reilly
• Linda Rosenthal
• Addie Jenne
• Michelle Schimel
• Frank Skartados
• Mike Spano
• Albert A. Stirpe
• Matthew Titone
• Rob Walker
• Helene Weinstein

BILL NUMBER:A9039

Title of bill

An act to amend the economic development law, chapter 316 of the laws of 1997 amending the public authorities law and other laws relating to the provision of low cost power to foster statewide economic development, the tax law and chapter 645 of the laws of 2006 amending the economic development law and other laws relating to reauthorizing the New York power authority to make contributions to the general fund, in relation to extending the expiration of the power for jobs program and the energy cost savings benefits program; to amend the public authorities law, in relation to authorizing an additional voluntary contribution into the state treasury under the power for jobs program; and to amend the public authorities law, in relation to an energy audit program

Purpose or general idea of bill

This legislation will extend the Power for Jobs and Energy Cost Savings Benefit Programs through May 15, 2010 and require reports on the performance of the programs and energy audits to develop the basis for a long term low cost power program.

Summary of specific provisions

* Extends the Power for Jobs and Energy Cost Savings Benefit Programs for ten and a half months through May 15, 2010;

* requires that the Power Authority in coordination with the Department of Economic Development provide reports, by December 30, 2009, detailing the information necessary to assess the existing low cost power programs and the resources available going forward along with a review of the performance of all program participants to date;

* requires that a representative sample of the recipients of the Authority's low cost power programs undergo a comprehensive energy audit;

* requires the Power Authority to issue progress report on the energy audits completed to date by February 28, 2010; and

Justification

This legislation extends the Power for Jobs and Energy Cost Savings Benefit Programs through May 15, 2010 giving the businesses participating in these programs the assurance that their benefits will continue through next year. The required energy audits and reports on program performance will provide the Legislature with the information necessary to assess the existing programs and develop an effective and efficient long term low cost power program for New York.

Prior legislative history

A new bill.

Fiscal implications

None. The costs would be paid for by a combination of revenues raised from the sale of low-cost hydroelectric power and funds of PASNY.

Effective date

This legislation would be effective immediately upon being signed into law.