What's happening
This bill expands the municipal sustainable energy loan program, allowing use of state funds and setting borrowing limits based on property type.
Why it matters
Expanding funding sources to include state money. means local governments could access more resources for sustainable energy projects, potentially increasing the number and scale of renewable energy and efficiency upgrades in communities.
Setting different borrowing rules for property owners based on their type (commercial, nonprofit, individual). allows for more tailored and potentially safer lending practices, which could reduce risk for municipalities and ensure the program is more flexible and equitable.
Placing specific borrowing limits for individuals. (capped at 10% of property value or total project cost) helps protect homeowners from overextending themselves, while giving municipalities more discretion for larger entities, possibly encouraging more commercial-scale clean energy investments.
Explicitly allowing commercial entities to generate energy not just for on-site use. could open the door for larger or shared renewable projects, like community solar, supporting broader adoption and impact of clean energy infrastructure.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Fund Green Energy Loans
Plain English, a few words. Used as the page title.
Sponsors
19 Co-sponsors
3 Multi-sponsors
History
- Substituted by S5990A
- Ordered to third reading rules cal.400
- Rules report cal.400
- Reported
- Reported referred to rules
- Reported referred to ways and means
- Print number 7394a
- Amend and recommit to codes
- Reported referred to codes
- Referred to energy
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.
Fund Clean Energy Loans
Signed by Governor · Sponsor Joseph A. Griffo
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
7394--A
2017-2018 Regular Sessions
IN ASSEMBLY
April 25, 2017
Introduced by M. of A. PAULIN, CRESPO, D'URSO, ENGLEBRIGHT, GALEF, GOTT- FRIED, JAFFEE, KEARNS, LUPARDO, THIELE, WALKER, BLAKE, ZEBROWSKI, JEAN-PIERRE, MOYA, GUNTHER, MOSLEY, SEPULVEDA, STECK -- Multi-Sponsored by -- M. of A. CAHILL, HYNDMAN, SIMON -- read once and referred to the Committee on Energy -- reported and referred to the Committee on Codes -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the general municipal law, in relation to the municipal sustainable energy loan program
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 6 of section 119-ff of the general municipal law, as added by chapter 497 of the laws of 2009, is amended to read as follows:
6. "Renewable energy system" means an energy generating system for the generation of electric or thermal energy, to be used primarily at such property, except when the owner of real property is a commercial entity, by means of solar thermal, solar photovoltaic, wind, geothermal, anaerobic digester gas-to-electricity systems, fuel cell technologies, or other renewable energy technology approved by the authority not including the combustion or pyrolysis of solid waste.
§ 2. Subdivisions 1 and 6 of section 119-gg of the general municipal law, as added by chapter 497 of the laws of 2009, are amended to read as follows:
1. The legislative body of any municipal corporation may, by local law, establish a sustainable energy loan program using federal grant assistance or federal credit support or monies from the state of New York or any state authority as defined by section two of the public authorities law available for this purpose.
6. [The] a. For loans made to an owner of real property that is a commercial entity, not-for-profit organization, or entity other than an
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11056-04-7
A. 7394--A 2
individual, the municipal corporation shall have the authority to impose requirements on the maximum amount that may be borrowed through such loan, which may consider factors including but not limited to the property value, projected savings, project cost, and existing indebtedness secured by such property.
b. For loans made to an owner of real property who is an individual, the principal amount of each such loan, excluding interest, shall not exceed the lesser of ten percent of the appraised real property value or the actual cost of installing the renewable energy system and energy efficiency improvements, including the costs of necessary equipment, materials, and labor, the costs of each related energy audit and renewable energy system feasibility study, and the cost of verification of such renewable energy system and energy efficiency improvements.
§ 3. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.