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S6914Senate2015-2016 Session

Relates to extending to offer financing to certain persons and entities

Sponsor Rich FunkeSD-55Affects Environment & Energy
Status
In Assembly Committee
Energy
Impact
Pending
Passage
Pending

Bill progress

Step 5 of 7

In Assembly · Energy

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Who cares

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Sponsors

Primary sponsor
Rich Funke

Senator · Senate District 55

Chair, Elections

No co-sponsors yet.

History

  1. Referred to energy
  2. Delivered to assembly
  3. Passed senateVote 60–0
  4. Ordered to third reading cal.317
  5. Referred to rules

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

Title of bill

An act to amend part SS of chapter 58 of the laws of 2015 relating to requiring the New York state energy research and development authority to develop standards and/or criteria that will encourage and increase issuance of loans to low-to-moderate income households for qualified energy efficiency services, in relation to extending to offer financing to certain persons and entities

Purpose of the bill

This bill would extend the on-bill financing program for one year.

Summary of provisions

Section 1 of the bill extends the on-bill financing program for one year.

Justification

On-bill financing is a method by which a homeowner or business can obtain a low interest loan through NYSERDA to make energy efficiency improvements or to install on-site renewable energy. The program then allows the home or business owner to pay back the loan as a charge on their monthly utility bill. The advantage of this method is that the money saved from installing the energy related improvements reduces energy use, making the loan repayment almost unnoticeable on the bill.

Legislative history

New bill.

Fiscal implications

None to the state; there are some costs to the New York state energy research and development authority in administrative costs, but these are paid through off-budget assessments.

Effective date

This act shall take effect immediately.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.