What's happening
This bill revises standards for Green Jobs-Green New York loan participation, sets regional fund allocation percentages, and directs $130 million in emissions auction revenue to the program.
Why it matters
Expands loan access by removing credit checks. By prohibiting the use of traditional creditworthiness determinations and instead basing participation on past utility bill payment history, the bill makes it easier for low- and moderate-income households—often excluded from standard financing—to qualify for energy efficiency loans.
Mandates equitable regional funding. The legislation sets fixed percentages for fund allocation (32% to New York City, 62% to the rest of the state), ensuring that both the city and upstate/downstate regions benefit proportionally and potentially addressing historic disparities in green investment.
Injects significant new funding from emissions auctions. By directing $130 million from the sale of emissions allowances into the Green Jobs-Green New York program, the bill not only scales up available resources for energy efficiency and green job initiatives, but also ties pollution reduction directly to community reinvestment.
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Who cares
Headline styles
Expand Green Loan Fund Access
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to energy and telecommunications
- Referred to energy and telecommunications
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1336
2017-2018 Regular Sessions
IN SENATE
January 9, 2017
Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommunications
AN ACT to amend the public authorities law, in relation to the green jobs-green New York revolving loan fund
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraph (iv) of paragraph (c) of subdivision 1 of section 1896 of the public authorities law, as amended by chapter 388 of the laws of 2011, is amended to read as follows:
(iv) establish standards for customer participation in such on-bill recovery mechanism, including standards for reliable utility bill payment, current good standing on any mortgage obligations, and such additional standards as the authority deems necessary; provided that in order to provide broad access to on-bill recovery, the authority shall, to the fullest extent practicable, consider alternative measures of creditworthiness that are prudent in order to include participation by customers who are less likely to have access to traditional sources of financing. Standards for customer participation may not however include a determination of a customer's creditworthiness but should be based on the customer's past utility bill payment history;
§ 2. Subdivisions 3 and 4 of section 1893 of the public authorities law, as added by chapter 487 of the laws of 2009, are amended and a new subdivision 5 is added to read as follows:
3. enter into contracts with one or more program implementers to perform such functions as the authority deems appropriate; [and]
4. exercise such other powers as are necessary for the proper administration of the program[.]; and
5. distribute the funds so that thirty-two percent of the funds are allocated to New York city and sixty-two percent to the rest of the state.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00329-01-7
S. 1336 2
§ 3. The commissioner of the department of environmental conservation shall provide for the deposit of one hundred thirty million dollars ($130,000,000) from revenues collected under direct oversight by the department of environmental conservation, from the auction of any emissions allowances for air contaminants to the green jobs-green New York revolving loan fund, established pursuant to section 1896 of the public authorities law. Fifty million dollars shall be allocated for use within New York city and eighty million dollars shall be allocated outside the city of New York.
§ 4. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the public authorities law, in relation to the green jobs-green New York revolving loan fund
Purpose
To continue the green jobs green New York program administered by the New York State Energy Research and Development Authority (NYSERDA). To increase the number of New Yorkers who can benefit for energy efficiency improvements.
Summary of provisions
Section 1 amends subparagraph (iv) of paragraph (c) of subdivision 1 of section 1896 of the public authorities law to provide that the standard for participation is based upon a customer's past utility bill payment history and not creditworthiness.
Section 2 adds a new subdivision 5 of section 1893 of the public authorities law to distribute funds proportionally between New York City and the rest of the state.
Section 3 requires DEC to deposit $130 million of RGGI funds into the Green Jobs/Green New York fund.
Section 4 sets forth the effective date.
Justification
The Green Jobs Green NY program successfully created jobs, increased energy efficiency in residential, commercial and not for profit organizations and saved energy consumers over $500 million dollars in energy bills. The first five years of the program New York has been a resounding success. Now that the program is up and running New York State needs to double down and to continue to promote widespread dissemination of energy conservation and clean energy technologies that represent a clear and cost-effective pathway for communities in New York State to curtail emissions of green-house gases and harmful air contaminants, reduce dependence on fossil fuels, lower housing costs, support community development and create green jobs to sustain and enhance our economy.
This legislation will increase the number of New Yorkers who can participate in the program without having a huge impact on the state budget.
Legislative history
2015-16: S.5413 Referred to Energy and Telecommunications.
Fiscal implications
There is no impact to the state or local budgets, rather this bill uses $130 million of capital funding from the Regional Greenhouse Gas Initiative (RGGI), an off budget program.
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.