Establishes the rural New York natural gas access and investment act

BILL NUMBER:S4744

Title of bill

An act to amend the public service law and the state finance law, in relation to establishing the rural New York natural gas access and investment act

Purpose of bill

To provide incentives for the extension of existing natural gas lines and the improvement of other existing natural gas infrastructure for the purpose of economic development in rural and underserved areas of the state. SUMMARY OF SPECIFIC PROVISIONS:

Section 1 of the bill is the legislative intent.

Section 2 of the bill is the short title of the act.

Section 3 of the bill amends the public service law to establish the Rural New York Natural Gas Access and Investment Act

Section 4 of the bill amends the state finance law to establish the Rural New York Natural Gas Access and Investment Fund,

Section 5 of the bill is a severability clause.

Section 6 of the bill is the effective date.

Justification

The availability of clean and inexpensive natural gas is critical to the success of manufacturers, farms and other economic development initiatives in underserved and rural parts of New York State. Extending existing natural gas lines and upgrading other existing natural gas infrastructure will improve access to natural gas and lead to more economic development, greater job opportunity, lower prices for consumers, and greater revenue for the state.

By establishing the Rural New York Natural Gas Access and Investment Act, this legislation will benefit residential customers and businesses, particularly in upstate New York, that are needlessly suffering from higher energy commodity prices than their fellow citizens in more urban and suburban areas. This Act will provide incentives for the extension of existing natural gas lines and the improvement of existing natural gas infrastructure, and by doing so will create economic development opportunities in rural and underserved areas of the state. Further, this legislation will help alleviate the high unemployment and lack of industrial growth that is being experienced in these areas of the state.

Legislative history

New bill.

Implications

This legislation establishes the Rural New York Natural Gas Access and Investment Fund, subject to appropriation.

Effective date

This act shall take effect 90 days after enactment provided, however, that any rules and regulations necessary for the timely implementation of this act on its effective date shall be promulgated on or before such date.