What's happening
This bill amends rules on how much St. Lawrence County economic development power the New York Power Authority can use for net earnings and updates contract definitions.
Why it matters
Abolishes the scheduled reduction in power used for net earnings. The bill removes a planned cut (from 20 MW to 10 MW after five years) in how much St. Lawrence County economic development power the New York Power Authority (NYPA) can use to generate net earnings, potentially ensuring more consistent funding for local economic projects.
Expands eligible use of unallocated power. The amendment clarifies that NYPA can count not just power unallocated under the authority-TMED contract, but also power directly allocated by NYPA to qualified applicants, making it easier to channel unused resources to new local development efforts.
Modernizes and extends contract definitions. By updating the definition of the "authority-TMED contract" to include future extensions or successor agreements (expiring by 2040), the bill ensures ongoing flexibility and legal clarity for long-term economic development planning and power allocations in St. Lawrence County.
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Who cares
Headline styles
Change Power Earnings Rules
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to energy
- 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.
Adjust Economic Power Limits
In Assembly Committee · Energy · Sponsor Dan Stec
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
40
2025-2026 Regular Sessions
IN ASSEMBLY (Prefiled)
January 8, 2025
Introduced by M. of A. GRAY, BLANKENBUSH, DeSTEFANO -- read once and referred to the Committee on Energy
AN ACT to amend the public authorities law, in relation to the amount of St. Lawrence county economic development power that may be used by the New York Power Authority to generate net earnings; and to amend the economic development law, in relation to authority-TMED contracts
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph (c) of subdivision 24 of section 1005 of the public authorities law, as added by chapter 545 of the laws of 2014, is amended to read as follows:
(c) The authority shall establish an account to be known as the northern New York economic development fund, which shall consist solely of net earnings. The authority, as determined to be feasible and advisable by the trustees, shall deposit net earnings into the fund no less than quarterly, provided, however, that the amount of St. Lawrence county economic development power that may be used by the authority to generate net earnings shall not exceed the lesser of twenty megawatts or the amount of St. Lawrence county economic development power that has not been allocated by the authority under the authority-TMED contract for sub-allocations, [and provided further that beginning five years from the effective date of this subdivision, the amount of St. Lawrence county economic development power that may be used by the authority to generate net earnings shall not exceed the lesser of ten megawatts or the amount of St. Lawrence county economic development power that has not been allocated by the authority under the authority-TMED contract for sub-allocations] or directly allocated by the authority to one or more qualified applicants under the authority-TMED contract. At least fifteen percent of net earnings paid into the fund shall be dedicated to eligible projects which are energy-related projects, programs and
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00054-01-5
services as such term is defined in subparagraph two of paragraph (b) of subdivision seventeen of this section. In addition to funding eligible projects, the authority may use northern New York economic development fund monies to cover reasonable costs and expenses of the authority related to the management and administration of the northern New York power proceeds allocation program created by article seven-A of the economic development law.
§ 2. Subdivision 2 of section 197-a of the economic development law, as added by chapter 545 of the laws of 2014, is amended to read as follows:
2. "Authority-TMED contract" refers to a certain contract between the authority and the town of Massena electric department, entitled "Agreement Governing the Sale of St. Lawrence-FDR Project Power and Energy to the Town of Massena Electric Department for Economic Development Purposes," executed and dated by the authority on October eighteenth, two thousand twelve, and the associated authority service tariff issued and effective August twenty-first, two thousand twelve, and any extension or successor tariff and contract, described as such in such extension or successor tariff and contract, that expires on or before two thousand forty.
§ 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.