What's happening
This bill adds the Power Authority of the State of New York to entities requiring Public Authorities Control Board approval for energy project financing and construction.
Why it matters
Increases state oversight over the Power Authority of the State of New York (NYPA). by requiring it to obtain approval from the Public Authorities Control Board (PACB) before financing or constructing energy projects, aligning its oversight with other major public authorities.
Introduces an additional layer of review for NYPA’s energy generation and transmission projects. , allowing the PACB to assess not only financial soundness but also consistency with current state energy plans and environmental policies, potentially impacting project timelines and priorities.
May slow down or alter the approval process for large-scale public energy projects. , as NYPA will now need to justify projects against broader state policy goals and energy strategies, increasing transparency but also bureaucratic steps.
Could affect the strategic direction and autonomy of NYPA. , as state-level policy considerations and environmental goals will have more direct influence over which energy projects move forward, possibly shifting project selection towards those aligned with state sustainability and climate objectives.
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Who cares
Headline styles
Tougher Energy Project Approvals
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Enacting clause stricken
- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
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.
Toughen Energy Project Rules
In Senate Committee · Corporations, Authorities And Commissions · Sponsor Leroy Comrie
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
761
2019-2020 Regular Sessions
IN ASSEMBLY
January 10, 2019
Introduced by M. of A. PAULIN, DINOWITZ -- read once and referred to the Committee on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to applications for the approval and construction of energy-related projects
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivisions 1 and 3 of section 51 of the public authorities law, subdivisions 1 and 3 as added by chapter 838 of the laws of 1983, paragraph k of subdivision 1 as added by chapter 506 of the laws of 1995, paragraph l of subdivision 1 as added by chapter 468 of the laws of 2004, paragraph m of subdivision 1 as added by section 10 of part E of chapter 494 of the laws of 2009, and paragraph n of subdivision 1 as added by chapter 533 of the laws of 2010, are amended to read as follows:
1. The New York state public authorities control board shall have the power and it shall be its duty to receive applications for approval of the financing and construction of any project proposed by any of the following state public benefit corporations:
a. New York state environmental facilities corporation
b. New York state housing finance agency
c. New York state medical care facilities finance agency
d. Dormitory authority
e. New York state urban development corporation
f. Job development authority
g. Battery park city authority
h. New York state project finance agency
i. State of New York mortgage agency
j. New York state energy research and development authority
k. Long Island Power Authority
l. Albany Convention Center Authority
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02230-01-9
A. 761 2
m. State of New York Municipal Bond Bank Agency for bonds issued pursuant to section two thousand four hundred thirty-six-b of this chapter
n. North Country Power Authority
o. Power Authority of the State of New York Any application made concerning a project shall include the terms, conditions and dates of the repayment of state appropriations authorized by law pursuant to a repayment agreement. Any subsidiary of, or corporation with the same members or directors as, a public benefit corporation subject to the provisions of this section shall also be subject to the provisions of this section. All applications and submissions to the board required to be made by a subsidiary shall be made on behalf of such subsidiary by the public benefit corporation which created the subsidiary. No public benefit corporation subject to the provisions of this section shall make any commitment, enter into any agreement or incur any indebtedness for the purpose of acquiring, constructing, or financing any project unless prior approval has been received from the board by such public benefit corporation as provided herein.
3. The board may approve applications only upon its determination that, with relation to any proposed project, there are commitments of funds sufficient to finance the acquisition and construction of such project. In determining the sufficiency of commitments of funds, the board may consider commitments of funds, projections of fees or other revenues and security, which may, in the discretion of the board, include collateral security sufficient to retire a proposed indebtedness or protect or indemnify against potential liabilities proposed to be undertaken. In reviewing an application from the Long Island Power Authority, the North Country Power Authority or the Power Authority of the State of New York for the approval of any project related to energy generation or transmission, in addition to determining the sufficiency of commitments of funds and any other required reviews, the board may consider the consistency of the project with the current state energy plan and other state environmental and energy-related policies. A copy of such determination shall be submitted to the chief executive officer of the appropriate public benefit corporation and the state comptroller.
§ 2. The public authorities law is amended by adding a new section 1005-e to read as follows:
§ 1005-e. Approval of certain actions by the public authorities control board. The authority shall not make any commitment, enter into any agreement nor incur any indebtedness unless prior approval has been received from the New York state public authorities control board pursuant to article one-A of this chapter.
§ 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.