What's happening
This bill creates a revolving loan program to help New York farmers upgrade to three phase electric power with low-interest loans.
Why it matters
Addresses a key infrastructure barrier for farmers. Many rural farms lack access to three-phase electric power, which is essential for running modern, energy-intensive agricultural equipment. Upgrading can be prohibitively expensive; this program aims to make it more feasible.
Potential to improve farm productivity and competitiveness. Access to reliable three-phase power can allow farmers to expand operations, adopt advanced technologies, and improve energy efficiency, helping New York agriculture remain competitive.
Creates a sustainable, revolving source of support. By structuring the program as a revolving loan fund, repayments from earlier borrowers will replenish the fund, potentially allowing it to assist more farmers over time without continual new appropriations.
Implementation details will shape real-world impact. The bill delegates significant authority to the New York State Energy Research and Development Authority (NYSERDA) to set application processes, eligibility, and prioritization—so the effectiveness and fairness of the program will depend on how these rules are written and administered.
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Who cares
Headline styles
Low-Interest Farm Power Loans
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to finance
- Referred to finance
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1924
2017-2018 Regular Sessions
IN SENATE
January 11, 2017
Introduced by Sens. RITCHIE, GALLIVAN, MARCHIONE -- read twice and ordered printed, and when printed to be committed to the Committee on Finance
AN ACT to amend the state finance law, in relation to a New York state three phase power revolving loan program
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The state finance law is amended by adding a new section 97-u to read as follows:
§ 97-u. New York state three phase power revolving loan program. 1. There is hereby established in the joint custody of the commissioner of taxation and finance and the comptroller, a special fund to be known as the "New York state three phase power revolving loan fund".
2. The program shall consist of all moneys appropriated for its purpose, all moneys transferred to such account pursuant to law, and all moneys required by this section or any other law to be paid into or credited to this account, including all moneys received by the account or donated to it, payments of principal and interest on loans made from the account, and any interest earnings which may accrue from the investment or reinvestment of moneys from the account. The total of monies deposited as a result of appropriation from state funds into this fund shall not exceed the sum of five million dollars. Monies in the fund shall be kept separate and shall not be commingled with any other monies otherwise appropriated or received.
3. Moneys of the fund, when allocated, shall be available to the New York state energy research and development authority for the purpose of providing farmers with low interest loans to upgrade their electricity to three phase power. The duration of such low interest loans shall not exceed thirty years.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07615-01-7
S. 1924 2
4. The New York state energy research and development authority shall promulgate rules and regulations for the purpose of carrying out the provisions of this section, including establishing:
(a) an application process whereby farmers may apply for loans;
(b) criteria and standards for determining a farmer's eligibility for a loan;
(c) criteria and standards for determining the priority to be granted among the three phase power projects;
(d) criteria and standards for determining the amount of financial assistance to be provided to a farmer for a three phase power project; and
(e) criteria and standards to be used in determining the loan repayment periods and the terms of any repayment agreements.
§ 2. This act shall take effect on the ninetieth day after it shall have become a law. Effective immediately, any rules and regulations necessary to implement the provisions of this act on its effective date are authorized to be promulgated on or before such date.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the state finance law, in relation to a New York state three phase power revolving loan program
Purpose
This bill establishes a revolving loan program to provide farmers throughout New York State with low interest loans so that they can upgrade their electricity to three phase power.
Summary of provisions
Section 1 adds a new section 97-u to the State Finance Law. 97-u establishing the New York State Three Phase Power Revolving Loan Program. The program will be carried out by the New York State Energy Research and Development Authority (NYSERDA) for the purpose of providing farmers with low interest loans to upgrade their electricity to three phase power.
This section also authorizes NYSERDA to promulgate the rules and regulations for the purpose of carrying out the provision of this act, including, an application process, standards for determining farmers' eligibility for a loam, standards for determining the priority of the three phase power project, standards for determining the amount of financial assistance to be provided to the farmer, and repayment periods and agreements.
Section 2 provides the effective date.
Justification
As technology continues to change and advance, so too does the need for steady and reliable electricity to support the changes and advances in technology. The farm is no exception. New and modern farm equipment requires steady and reliable electricity. The current form of electricity, single phase power, is no longer strong enough or reliable enough to support new and modern farm equipment. To remain competitive and be able to grow, farms are being faced with the need to upgrade the type of electricity that comes into their farm to three phase power. Three phase power provides three alternating currents that reach their instantaneous peak value at one third of a cycle from each other.
Upgrading to three phase power, however, is extremely expensive. It requires the installation of new lines and equipment that bring the three phase power from its current closest location to the farm. Farmers need financial assistance to help cover the cost of this necessary upgrade. This bill creates the New York State Three Phase Power Revolving Loan Program. This will provide farmers throughout New York State with low interest loans to help cover the cost of bringing three phase power to their farm.
Legislative history
2015-2016: S.5199.
Fiscal implications
To be determined.
Effective date
This act shall take effect on the ninetieth day after it shall have become a law. Effective immediately, any rules and regulations necessary to implement the provisions of this act on its effective date are authorized to be promulgated on or before such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.