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Sponsors
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History
- Referred to energy and telecommunications
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
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; to amend 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; and to amend the tax law, in relation to extending the expiration of the power for jobs program and the energy cost savings benefits program; to amend the economic development law, in relation to the creation of the economic development power program; and to amend the public authorities law, in relation to energy audits as a condition for an award under the economic development power award
Purpose or general idea of bill
This legislation will extend and phase out the power for Jobs and Energy Cost Savings Benefit programs, and consolidate and transform those programs into a permanent Economic Benefit power program to provide lower cost electric power to support economic development and job retention and creation, while enhancing program oversight and refining eligibility criteria.
Summary of specific provisions
*Extends the power for Jobs and Energy Cost Savings Benefit Programs through June 30, 2011 and then phases out those programs for current recipients over five years while making them eligible to transition to and participate in the new program;
Read the full memo (702 words)
*Creates the new Economic Benefit power Program (EBPP) beginning on July 1, 2011 to provided discounted market power and/or allocations of hydroelectricity to qualified businesses;
*Provides for EBPP award contracts of up to seven years with the opportunity for mutually agreed annual one-year renewals for companies meeting compliance criteria and objectives;
*Expands and refines award criteria to provide for consideration of, among other factors: job retention; job creation; capital investments; local economic impact and importance including any "multiplier effect"; past and committed investment in energy efficiency and/or distributed generation; character and quality of the jobs retained or committed; relative impact of energy costs to the applicants operations and competitiveness; criticality of the services provided by the applicant to the community, and; prior performance under other economic development programs;
*Restructures and expands the Economic Development Power Allocation Board (EDPAB) to consist of nine members: one to the president of the urban development corporation who shall chair the committee; one the president of NYSERDA; one the president of the power authority of NYS; two appointed by the temporary president of the Senate; two appointed by the Speaker of the Assembly; and one each appointed by the minority leaders the Senate and Assembly;
*Provides for reallocation of relinquished or withdrawn awards under both the existing programs and the new EBPP;
*Provide for a phased five-year redeployment of PASNY hydro-electric power from rural and domestic customers to the EBPP except for such allocations as will be necessary to hold-harmless current residential recipients of such power who qualify for the Home Energy Assistance Program (HEAP);
*Encourages coordination and facilitation of access to the various state economic development opportunities for applicants as among EDC, EDPAB, PASNY, NYSERDA, and other arms of state government, and to facilitate as far as practicable "one-stop" shopping for applicants in accessing such programs.
Justification
The current Power for Jobs and Energy Cost Savings Benefit Programs expire May 15, 2010. Making the state's economic benefit power programs permanent and creating the opportunity for long-term award contracts under those programs is critical to giving current and prospective businesses Participants in these programs the certain and stability necessary to encourage them to stay in, come to, and invest in New York State and to retain and create quality jobs essential to growing our economy. This legislation would accomplish that goal while consolidating existing programs, making access to applicants easier, smoothly transitioning current program recipients and holding-harmless current low-income residential hydro-power beneficiaries.
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 NYPA.
Effective date
This legislation would be effective immediately upon being signed into law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.