Bill Text: NY A00761 | 2019-2020 | General Assembly | Introduced

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Bill Title: Relates to applications for the approval and construction of energy-related projects of the New York Power Authority by the public authorities control board.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2020-05-22 - enacting clause stricken [A00761 Detail]

Download: New_York-2019-A00761-Introduced.html

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                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  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivisions 1 and 3 of section 51 of the public authori-
     2  ties law, subdivisions 1 and 3 as added by chapter 838 of  the  laws  of
     3  1983,  paragraph  k of subdivision 1 as added by chapter 506 of the laws
     4  of 1995, paragraph l of subdivision 1 as added by  chapter  468  of  the
     5  laws  of  2004,  paragraph  m of subdivision 1 as added by section 10 of
     6  part E of chapter 494 of the laws of 2009, and paragraph n  of  subdivi-
     7  sion  1 as added by chapter 533 of the laws of 2010, are amended to read
     8  as follows:
     9    1. The New York state public authorities control board shall have  the
    10  power  and  it shall be its duty to receive applications for approval of
    11  the financing and construction of any project proposed  by  any  of  the
    12  following state public benefit corporations:
    13    a. New York state environmental facilities corporation
    14    b. New York state housing finance agency
    15    c. New York state medical care facilities finance agency
    16    d. Dormitory authority
    17    e. New York state urban development corporation
    18    f. Job development authority
    19    g. Battery park city authority
    20    h. New York state project finance agency
    21    i. State of New York mortgage agency
    22    j. New York state energy research and development authority
    23    k. Long Island Power Authority
    24    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
     1    m.  State  of  New  York  Municipal  Bond Bank Agency for bonds issued
     2  pursuant to section two thousand four hundred thirty-six-b of this chap-
     3  ter
     4    n. North Country Power Authority
     5    o. Power Authority of the State of New York
     6  Any  application  made  concerning  a  project  shall include the terms,
     7  conditions and dates of the repayment of state appropriations authorized
     8  by law pursuant to a repayment agreement. Any subsidiary of,  or  corpo-
     9  ration  with  the  same members or directors as, a public benefit corpo-
    10  ration subject to the provisions of this section shall also  be  subject
    11  to  the  provisions of this section. All applications and submissions to
    12  the board required to be made by a subsidiary shall be made on behalf of
    13  such subsidiary by the public  benefit  corporation  which  created  the
    14  subsidiary.  No  public benefit corporation subject to the provisions of
    15  this section shall make any commitment,  enter  into  any  agreement  or
    16  incur  any  indebtedness  for the purpose of acquiring, constructing, or
    17  financing any project unless prior approval has been received  from  the
    18  board by such public benefit corporation as provided herein.
    19    3.  The  board  may  approve  applications only upon its determination
    20  that, with relation to any proposed project, there  are  commitments  of
    21  funds  sufficient  to  finance  the acquisition and construction of such
    22  project.  In determining the sufficiency of commitments  of  funds,  the
    23  board  may  consider  commitments of funds, projections of fees or other
    24  revenues and security, which  may,  in  the  discretion  of  the  board,
    25  include collateral security sufficient to retire a proposed indebtedness
    26  or  protect  or  indemnify  against potential liabilities proposed to be
    27  undertaken. In reviewing an  application  from  the  Long  Island  Power
    28  Authority,  the  North Country Power Authority or the Power Authority of
    29  the State of New York for the approval of any project related to  energy
    30  generation  or  transmission, in addition to determining the sufficiency
    31  of commitments of funds and any other required reviews,  the  board  may
    32  consider  the  consistency  of the project with the current state energy
    33  plan and other state environmental and energy-related policies.  A  copy
    34  of  such determination shall be submitted to the chief executive officer
    35  of the appropriate public benefit corporation and the state comptroller.
    36    § 2. The public authorities law is amended by  adding  a  new  section
    37  1005-e to read as follows:
    38    §  1005-e.  Approval  of  certain  actions  by  the public authorities
    39  control board. The authority shall not make any commitment,  enter  into
    40  any  agreement nor incur any indebtedness unless prior approval has been
    41  received from the New York state public authorities control board pursu-
    42  ant to article one-A of this chapter.
    43    § 3. This act shall take effect immediately.