Bill Text: NY A10224 | 2017-2018 | 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) 2018-03-26 - referred to corporations, authorities and commissions [A10224 Detail]

Download: New_York-2017-A10224-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          10224
                   IN ASSEMBLY
                                     March 26, 2018
                                       ___________
        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
    25    m.  State  of  New  York  Municipal  Bond Bank Agency for bonds issued
    26  pursuant to section two thousand four hundred thirty-six-b of this chap-
    27  ter
    28    n. North Country Power Authority
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09569-02-8
        A. 10224                            2
     1    o. Power Authority of the State of New York
     2  Any  application  made  concerning  a  project  shall include the terms,
     3  conditions and dates of the repayment of state appropriations authorized
     4  by law pursuant to a repayment agreement. Any subsidiary of,  or  corpo-
     5  ration  with  the  same members or directors as, a public benefit corpo-
     6  ration subject to the provisions of this section shall also  be  subject
     7  to  the  provisions of this section. All applications and submissions to
     8  the board required to be made by a subsidiary shall be made on behalf of
     9  such subsidiary by the public  benefit  corporation  which  created  the
    10  subsidiary.  No  public benefit corporation subject to the provisions of
    11  this section shall make any commitment,  enter  into  any  agreement  or
    12  incur  any  indebtedness  for the purpose of acquiring, constructing, or
    13  financing any project unless prior approval has been received  from  the
    14  board by such public benefit corporation as provided herein.
    15    3.  The  board  may  approve  applications only upon its determination
    16  that, with relation to any proposed project, there  are  commitments  of
    17  funds  sufficient  to  finance  the acquisition and construction of such
    18  project.  In determining the sufficiency of commitments  of  funds,  the
    19  board  may  consider  commitments of funds, projections of fees or other
    20  revenues and security, which  may,  in  the  discretion  of  the  board,
    21  include collateral security sufficient to retire a proposed indebtedness
    22  or  protect  or  indemnify  against potential liabilities proposed to be
    23  undertaken. In reviewing an  application  from  the  Long  Island  Power
    24  Authority,  the  North Country Power Authority or the Power Authority of
    25  the State of New York for the approval of any project related to  energy
    26  generation  or  transmission, in addition to determining the sufficiency
    27  of commitments of funds and any other required reviews,  the  board  may
    28  consider  the  consistency  of the project with the current state energy
    29  plan and other state environmental and energy-related policies.  A  copy
    30  of  such determination shall be submitted to the chief executive officer
    31  of the appropriate public benefit corporation and the state comptroller.
    32    § 2. The public authorities law is amended by  adding  a  new  section
    33  1005-e to read as follows:
    34    §  1005-e.  Approval  of  certain  actions  by  the public authorities
    35  control board. The authority shall not make any commitment,  enter  into
    36  any  agreement nor incur any indebtedness unless prior approval has been
    37  received from the New York state public authorities control board pursu-
    38  ant to article one-A of this chapter.
    39    § 3. This act shall take effect immediately.