STATE OF NEW YORK
________________________________________________________________________
10221
IN ASSEMBLY
May 14, 2024
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Woerner,
Weinstein) -- (at request of the Department of Public Service) -- read
once and referred to the Committee on Ways and Means
AN ACT to amend the abandoned property law, in relation to unclaimed
deposits and refunds for utility services furnished by energy services
companies
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:
1 Section 1. Section 103 of the abandoned property law is amended by
2 adding a new subdivision (j) to read as follows:
3 (j) "Energy services company" or "ESCO" shall mean an entity eligible
4 to sell energy services to end-use customers using the transmission or
5 distribution system of a utility.
6 § 2. Subdivision (f) of section 103 of the abandoned property law, as
7 amended by chapter 498 of the laws of 1944 and relettered by chapter 908
8 of the laws of 1974, is amended to read as follows:
9 (f) "Utility services" means gas, electricity or steam supplied by a
10 gas, electric, gas and electric or district steam corporation or an
11 energy services company, telephone, telegraph or other service furnished
12 by a telephone, telegraph or telegraph and telephone corporation, water
13 supplied by a waterworks corporation, or appliances, equipment, instal-
14 lations, fixtures or appurtenances rented by any such corporation or
15 company.
16 § 3. The opening paragraph of subdivision 1 of section 400 of the
17 abandoned property law, as amended by chapter 498 of the laws of 1944,
18 is amended to read as follows:
19 The following unclaimed moneys held or owing by a gas corporation, an
20 electric corporation, a gas and electric corporation, a district steam
21 corporation, an energy services company, a telegraph corporation, a
22 telephone corporation, a telegraph and telephone corporation, or a
23 waterworks corporation, shall be deemed abandoned property:
24 § 4. Paragraphs (a) and (b) of subdivision 1 of section 400 of the
25 abandoned property law, as amended by chapter 78 of the laws of 1976,
26 are amended to read as follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14458-01-4
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1 (a) Any deposit made by a consumer or subscriber with such a corpo-
2 ration or company to secure the payment for utility services furnished
3 by such corporation or company, or the amount of such deposit after
4 deducting any sums due to such corporation or company by such consumer
5 or subscriber, together with any interest due thereon, which shall have
6 remained unclaimed by the person or persons appearing to be entitled
7 thereto for two years after the termination of the utility services to
8 secure the payment of which such deposit was made, or, if during such
9 two year period utility services are furnished by such corporation or
10 company to such consumer or subscriber and such deposit is held by such
11 corporation or company to secure payment therefor, for two years after
12 the termination of such utility services.
13 (b) Any amount paid by a consumer or subscriber to such a corporation
14 or company in advance or in anticipation of utility services furnished
15 or to be furnished by such corporation or company which in fact is not
16 furnished, after deducting any sums due to such corporation or company
17 by such consumer or subscriber for utility services in fact furnished,
18 which shall have remained unclaimed by the person or persons appearing
19 to be entitled thereto for two years after the termination of the utili-
20 ty services for which such amount was paid in advance or in antic-
21 ipation, or, if during such period utility services are furnished by
22 such corporation or company to such consumer or subscriber and such
23 amount is applied to the payment in advance or in anticipation of such
24 utility services, for two years after the termination of such utility
25 services.
26 § 5. Paragraph (c) of subdivision 1 of section 400 of the abandoned
27 property law, as amended by chapter 833 of the laws of 1963, is amended
28 to read as follows:
29 (c) The amount of any refund of excess or increased rates or charges
30 heretofore or hereafter collected by any such corporation or company for
31 utility services lawfully furnished by such corporation or company which
32 has been or shall hereafter lawfully be ordered refunded to a consumer
33 or other person or persons entitled thereto, together with any interest
34 due thereon, less any lawful deductions, which shall have remained
35 unclaimed by the person or persons entitled thereto for two years from
36 the date it became payable in accordance with the final determination or
37 order providing for such refund.
38 § 6. Subdivision 2 of section 400 of the abandoned property law is
39 amended to read as follows:
40 2. Any such abandoned property held or owing by such a corporation or
41 company to which the right to receive the same is established to the
42 satisfaction of such corporation or company shall cease to be deemed
43 abandoned.
44 § 7. Subdivision 1 of section 402 of the abandoned property law, as
45 amended by section 11 of part A of chapter 61 of the laws of 2011, is
46 amended to read as follows:
47 1. Every such corporation or company shall cause to be published, on
48 or before the first day of September in each year, a notice entitled:
49 "NOTICE OF CERTAIN UNCLAIMED PROPERTY HELD BY (name of corporation or
50 company)."
51 § 8. Paragraph (a) of subdivision 3 of section 402 of the abandoned
52 property law is amended to read as follows:
53 (a) that a report of unclaimed amounts of money or other property held
54 or owing by it has been made to the state comptroller and that a list of
55 the names of the person or persons appearing from the records of such
56 corporation or company to be entitled thereto is on file and open to
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1 public inspection at its principal office or place of business in any
2 city, village or county where any such abandoned property is payable;
3 § 9. Subdivision 4 of section 402 of the abandoned property law is
4 amended to read as follows:
5 4. Such corporation or company shall file with the state comptroller
6 on or before the tenth day of September in each year proof by affidavit
7 of such publication.
8 § 10. Subdivisions 1 and 2 of section 403 of the abandoned property
9 law, as amended by section 12 of part A of chapter 61 of the laws of
10 2011, are amended to read as follows:
11 1. In such succeeding month of October, and on or before the tenth day
12 thereof, every such corporation or company shall pay to the state comp-
13 troller all property which, as of the first day of July next preceding,
14 was deemed abandoned pursuant to section four hundred of this article,
15 held or owing by such corporation or company.
16 2. Such payment shall be accompanied by a true and accurate report
17 setting forth such information as the state comptroller may require
18 relating to such abandoned property including:
19 (a) as to abandoned property specified in paragraphs (a) and (b) of
20 subdivision one of section four hundred of this article:
21 (i) the name and last known address of each depositor or subscriber
22 appearing from the records of such corporation or company to be entitled
23 to receive any such abandoned property;
24 (ii) the date when the deposit was made or amount paid;
25 (iii) the amount of such deposit or payment;
26 (iv) the date when utility services furnished to such consumer or
27 subscriber ceased;
28 (v) any sums due and unpaid to the corporation or company by such
29 consumer or subscriber, with interest thereon from the date of termi-
30 nation of service;
31 (vi) the amount of interest due upon such deposit or payment on any
32 balance thereof that has remained with such corporation or company and
33 not been credited to such consumer's or subscriber's account;
34 (vii) the amount of such abandoned property; and
35 (viii) such other identifying information as the state comptroller may
36 require.
37 (b) as to abandoned property specified in paragraph (c) of subdivision
38 one of section four hundred of this article:
39 (i) the name and last known address of each person appearing from the
40 records of such corporation or company to be entitled to receive the
41 same;
42 (ii) the amount appearing from such records to be due each such
43 person;
44 (iii) the date payment became due; and
45 (iv) such other identifying information as the state comptroller may
46 require.
47 § 11. This act shall take effect immediately.