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History
- Recommit, enacting clause stricken
- Referred to energy and telecommunications
Companion bills
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Relates to the use of monies from certain funds or accounts
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor Sean Ryan
Relates to the use of monies from certain funds or accounts
In Senate Committee · Energy And Telecommunications · Sponsor Robert Ortt
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3615
Title of bill
An act to amend the public authorities law, in relation to the use of monies from certain funds or accounts
Purpose
To ensure that the any monies in the possession of the New York Power Authority or any such funds that may be transferred from the Authority are used only for energy related purposes and further that any ratepayer funds collected for programs administered by NYSERDA are used only for their intended purpose.
Summary of provisions
Section 1. Requires that any and all funds of the Authority may only be used for purposes expressly related in section one thousand one of this title and that such funds may not be swept for any other use, unless the use is for an "energy project" as defined in this section.
Section 2. Requires that any ratepayer's funds collected by order of the Public Service Commission to support programs at NYSERDA, must be used only for the intended purposes of that program. Further this section requires that any money that is not spent on its intended purpose by the end of the calendar year, will be refunded to ratepayers
Section 3: Sets forth the effective date
Justification
The New York Power Authority (NYPA) and The New York Energy Research and Development Authority (NYSERDA) provide valuable resources and programs that benefit all for the citizens of the State of New York. In the case of NYPA any additional money that may be produced is gained through the sale of excess power into the market, and also other financial investments of the Authority. This revenue is produced by and for the energy sector and the purposes outlined in section 1001 of the Public Authorities law are directly tied to energy related purposes. Therefore it is important to ensure that Authority resources are only used for these purposes and that transfer of this revenue are prohibited unless the transfer is to support a qualified energy project. NYSERDA collects around $1 billion a year from ratepayers to support various energy related programs. These include the Renewable Portfolio Standard (RPS) the Energy Efficiency Portfolio Standard (EEPS) and the
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.