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Who cares
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Sponsors
3 Co-sponsors
History
- Referred to corporations, authorities and commissions
- Referred to rules
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.
Relates to creating the hospital and multiple dwelling energy loan fund
In Assembly Committee · Economic Development · Sponsor Jo Anne Simon
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the New York state urban development corporation act, in relation to creating the hospital and multiple dwelling energy loan fund
Purpose or general idea of bill
A loan program would be established to expand on existing programs operated by the New York State Energy Research Development Authority to make energy audits and energy efficient technology implementation more readily available to hospitals and multiple dwellings, with at least 60% of the loan dollars going to economically distressed areas.
Summary of specific provisions
This bill would establish a hospital and multiple dwelling loan fund to provide zero or low interest loans up to one hundred thousand dollars and loan interest rate reductions to hospitals and multiple dwellings, with at least 60% of the loans going to economically distressed areas, for energy efficiency projects and advanced energy technologies. In order to be eligible to participate in this loan program, hospitals and multiple dwellings must have an energy audit provided through the NYSERDA's energy audit program to help entities make informed electrical energy decisions and implement energy efficiency strategies.
Justification
The state's chronically high energy costs can place significant fiscal stress on hospitals and multiple dwellings. This bill would provide fiscal relief to hospitals and multiple dwellings by reducing a major cost in their utility bills. By providing zero or low interest loans to hospitals and multiple dwellings, this legislation will provide the capital support necessary to make upgrades more quickly and allow these facilities to reap the benefits of energy savings.
Prior legislative history
New bill
Fiscal implications
Subject to appropriations.
Effective date
Upon enactment of the bill into law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.