What's happening
The bill requires the Power Authority of the State of New York to get Public Authorities Control Board approval for energy project financing and construction.
Why it matters
Expands oversight of the Power Authority of the State of New York. by requiring its energy project financing and construction plans to get approval from the Public Authorities Control Board, adding an extra layer of state-level review that did not previously exist.
Ensures alignment with state energy and environmental policies. by specifically permitting the Control Board to consider whether proposed Power Authority projects are consistent with the current state energy plan and related policy goals—potentially influencing the types of projects that move forward.
May impact project timelines and administrative complexity. as the Power Authority, and any subsidiaries, will now need to navigate an additional approval process before making financial commitments, entering agreements, or incurring debt for new projects—potentially slowing or altering project development.
Creates greater state accountability and transparency. over large-scale public energy investments, giving the legislature and public more visibility and input into decisions about major infrastructure and spending by the Power Authority.
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Who cares
Headline styles
Toughen Energy Project Rules
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 14
1 Co-sponsor
History
- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2265
2019-2020 Regular Sessions
IN SENATE
January 23, 2019
Introduced by Sens. COMRIE, RANZENHOFER -- read twice and ordered printed, and when printed to be committed 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
S. 2265 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.
Sponsor's memo
Title of bill
An act to amend the public authorities law, in relation to applications for the approval and construction of energy-related projects
Purpose or general idea of bill
This bill would add the Power Authority of the State of New York to the list of authorities which must submit projects and undertakings for approval by the Public Authorities Control Board, and would ensure that projects of this and other authorities that involve energy generation or transmission can be examined for consistency with the State Energy Plan and other environmental and energy-related policies.
Summary of provisions
Section one of the bill amends § 51 of the Public Authorities Law to add the Power Authority of the State of New York to the list of 14 other public benefit corporations that must submit proposed projects to the Public Authorities Control Board (PACB) for its review and approval. This section is also amended to provide that, when reviewing a proposal from the Power Authority or the other two authorities already subject to PACB oversight that engage in projects involving energy generation and transmission (the Long Island Power Authority and the North Country Power Authority), the PACB may consider the consistency of such a project with the current State energy plan and other State environmental and energy-related policies.
Section two adds a new section 1005-d to the Public Authorities Law to provide that the Power Authority shall not make any commitment, enter into any agreement nor incur any indebtedness unless prior approval has been received from the PACB.
Section three provides the effective date.
Effects of present law which this bill would alter
Although similar authorities such as LIPA and the North Country Power Authority are subject to PACE oversight, the Power Authority to date has not been subject to this important fiscal safeguard.
Justification
The Public Authorities Control Board (PACE) provides independent over- sight of the proposed actions of public authorities to ensure that they are financially feasible and prudent. Recent events have indicated that there may be substantial public benefit to extending this oversight to projects of the Power Authority. In addition, the reviews of projects involving energy generation or transmission would be enhapc0 by giving the PACB the opportunity to ensure that they are *Consistent with the current State Energy Plan and with other applicable environmental and energy-related policies.
Prior legislative history
2018: A.10224 - Referred to Corporations / S.8226 - Committed to Rules. 2017: A.4695 - Referred to Corporations.
2013-14: A.3187 - Referred to Corporations / S.4119 - Referred to Corpo- rations.
2011-12: A.7644 - Referred to Corporations.
Fiscal implications for state and local governments
Review of the Power Authority's projects will protect the interests of New York taxpayers.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.