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Who cares
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Sponsors
No co-sponsors yet.
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 require the public service commission and the New York state energy research and development authority to provide that Green Bank funds include fund programs assisting certain building owners with installing energy efficient upgrades
Purpose
This bill would authorize the Public Service Commission (PSC) and the New York State Energy Research and Development Authority (NYSERDA) to make Green Bank funding accessible for programs to residential, multi-family, hospitals and commercial building owners for the purpose of installing improvements to heating and cooling systems. This bill would result in carbon emissions reductions and increased energy efficiency.
Summary of provisions
Section 1 directs the PSC and NYSERDA to make the Green Bank program available to programs that provide funds to residential, multi-family, hospitals and commercial building owners for the purpose of installing improvements to heating and cooling systems including conversions through the installation of high efficiency boilers or furnaces, or replacement of burners in boilers. These specified installations must result in emissions reductions and increased energy efficiency of at least twenty percent, or reduced fuel usage of at least twenty percent, leading to a reduction in carbon emissions as defined by NYSERDA guidelines developed after consultation with the Department of Environmental Conservation (DEC), provided that such projects shall have a return on investment of five years or less.
Section 2 requires that Green Bank funds made available for programs described in section one of this act may consist of funds from assessments on transmission and distribution companies under direct oversight of the Public Service Commission collected on or after July 1, 2006 as well as from funds gathered from auctions administered under the Regional Greenhouse Gas Initiative (RGGI) or any other funds administered by NYSERDA that may be available for the purpose of this act.
Section 3. This act shall take effect on the thirtieth day after it shall have become a law.
Justification
New York state has a mission to reduce carbon emissions to improve the environment and the public health. This bill furthers this mission by assisting residential, multi-family, hospitals and commercial building owners in installing improvements to heating and cooling systems. Furthermore, this bill would help consumers and businesses while promoting job creation and economic development by increasing energy efficiency.
Legislative history
New Bill.
Fiscal implications
None to the State.
Effective date
This act shall take effect on the thirtieth day after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.