Bill Text: NY S02521 | 2013-2014 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Authorizes the New York power authority to issue bonds for certain projects involving repowering projects, qualified energy infrastructure investment projects, or qualified new construction projects for major electric generating facilities to achieve compliance with certain environmental standards.

Sponsorship: Partisan Bill (Republican 6)

Status: (Introduced - Dead) 2014-01-09 - PRINT NUMBER 2521B [S02521 Detail]

Download: New_York-2013-S02521-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2521
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 18, 2013
                                      ___________
       Introduced  by  Sens. MAZIARZ, LARKIN, MARCELLINO, RANZENHOFER, RITCHIE,
         YOUNG -- read twice and  ordered  printed,  and  when  printed  to  be
         committed to the Committee on Energy and Telecommunications
       AN  ACT  to amend the public service law and the public authorities law,
         in relation to certain energy projects
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  The public service law is amended by adding a new section
    2  73 to read as follows:
    3    S 73. COORDINATION WITH CERTAIN PROVISIONS OF THE  PUBLIC  AUTHORITIES
    4  LAW. THE DEPARTMENT MAY REQUEST FROM THE POWER AUTHORITY OF THE STATE OF
    5  NEW YORK A SUMMARY OF PROJECTS FOR WHICH IT HAS ISSUED BONDS PURSUANT TO
    6  SUBDIVISION TWELVE OF SECTION ONE THOUSAND TEN OF THE PUBLIC AUTHORITIES
    7  LAW.   THE   SUMMARY   SHALL  INCLUDE  EACH  PROJECT'S  NAME,  LOCATION,
    8  DESCRIPTION, BOND AMOUNT, AND DATE OF ISSUANCE. THE POWER  AUTHORITY  OF
    9  THE  STATE OF NEW YORK SHALL REPLY PURSUANT TO PARAGRAPH (F) OF SUBDIVI-
   10  SION TWELVE OF SECTION ONE THOUSAND TEN OF THE PUBLIC  AUTHORITIES  LAW,
   11  TO SUCH A REQUEST WITHIN THIRTY DAYS OF ITS RECEIPT.
   12    S 2. Section 1010 of the public authorities law is amended by adding a
   13  new subdivision 12 to read as follows:
   14    12.  (A)  FOR  THE PURPOSES OF THIS SECTION, THE PROJECTS SET FORTH IN
   15  THIS SUBDIVISION SHALL BE DEEMED TO BE PROJECTS THAT ARE  AUTHORIZED  BY
   16  THIS TITLE.
   17    (B) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE AUTHORI-
   18  TY IS HEREBY AUTHORIZED FROM TIME TO TIME, AS DEEMED FEASIBLE AND ADVIS-
   19  ABLE BY THE TRUSTEES, TO ISSUE ITS NEGOTIABLE BONDS, UPON SELECTION OF A
   20  PROPOSAL SUBMITTED PURSUANT TO THE PROCEDURES DEVELOPED IN PARAGRAPH (D)
   21  OF  THIS  SUBDIVISION,  IN  CONFORMITY WITH APPLICABLE PROVISIONS OF THE
   22  UNIFORM COMMERCIAL CODE  FOR  THE  PURPOSE  OF  FINANCING  A  REPOWERING
   23  PROJECT,  QUALIFIED  ENERGY INFRASTRUCTURE INVESTMENT PROJECT, OR QUALI-
   24  FIED NEW CONSTRUCTION PROJECT AS SUCH TERMS ARE DEFINED IN THIS SUBDIVI-
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05842-02-3
       S. 2521                             2
    1  SION AND WHICH ARE THE SUBJECT OF THE AFOREMENTIONED SELECTED  PROPOSAL,
    2  INCLUDING THE ACQUISITION OF ANY REAL OR PERSONAL PROPERTY OR FACILITIES
    3  DEEMED  NECESSARY  BY  THE  AUTHORITY  TO  EFFECTUATE THE AFOREMENTIONED
    4  SELECTED PROPOSAL.
    5    (C) THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
    6    (I)  "REPOWERING PROJECT" SHALL MEAN IMPROVEMENTS TO AN EXISTING MAJOR
    7  ELECTRIC GENERATING FACILITY THAT WILL ALLOW THE FACILITY, OR A NEW UNIT
    8  OR UNITS AT THE FACILITY, OR THE COMBINATION OF THE NEW  UNIT  OR  UNITS
    9  AND  THE FACILITY TO INCREASE ITS OVERALL EFFICIENCY, AS DEMONSTRATED BY
   10  A REDUCTION IN HEAT RATE, AND TO MEET THE  FOLLOWING  RELEVANT  ENVIRON-
   11  MENTAL REQUIREMENTS:
   12    (1) A DECREASE IN THE RATE OF EMISSION EXPRESSED AS A POUNDS PER MEGA-
   13  WATT-HOUR REDUCTION OF EACH OF THE RELEVANT SITING AIR CONTAMINANTS; AND
   14    (2)  COOLING  WATER WITHDRAWAL CONSISTENT WITH A RATE EQUAL TO OR LESS
   15  THAN CLOSED-CYCLE COOLING.
   16    (II) "ENVIRONMENTAL REQUIREMENTS", EXCEPT AS  OTHERWISE  SPECIFIED  IN
   17  SUBPARAGRAPH (I) OF THIS PARAGRAPH, SHALL MEAN:
   18    (1)  AN  INCREASE IN OVERALL EFFICIENCY AS DEMONSTRATED BY A REDUCTION
   19  IN HEAT RATE;
   20    (2) A DECREASE IN THE RATE OF EMISSION EXPRESSED AS A POUNDS PER MEGA-
   21  WATT-HOUR REDUCTION OF EACH OF THE RELEVANT SITING AIR CONTAMINANTS; AND
   22    (3) COOLING WATER WITHDRAWAL CONSISTENT WITH A RATE EQUAL TO  OR  LESS
   23  THAN CLOSED-CYCLE COOLING.
   24    (III)  "QUALIFIED ENERGY INFRASTRUCTURE INVESTMENT PROJECT" SHALL MEAN
   25  ANY INVESTMENT NEEDED TO DELIVER A NEW FUEL SOURCE TO AN EXISTING  MAJOR
   26  ELECTRIC  GENERATING  FACILITY, REPLACE OR RETROFIT A BURNER OR TURBINE,
   27  UTILIZE ON-SITE RENEWABLE ENERGY GENERATION OR,  ANY  OTHER  SUBSTANTIAL
   28  INVESTMENT  THAT  WILL HAVE A DIRECT IMPACT ON THE FACILITY'S ABILITY TO
   29  MEET RELEVANT ENVIRONMENTAL REQUIREMENTS.
   30    (IV) "QUALIFIED NEW CONSTRUCTION PROJECT" SHALL MEAN THE  CONSTRUCTION
   31  OF  A  NEW MAJOR ELECTRIC GENERATING FACILITY ON THE SAME PROPERTY AS AN
   32  EXISTING FACILITY OR ON PROPERTY DIRECTLY ADJACENT OR CONTIGUOUS TO SAID
   33  PROPERTY, WHERE THE NEW FACILITY BY ITSELF OR IN  COMBINATION  WITH  THE
   34  EXISTING  FACILITY WILL ALLOW THE SITE AS A WHOLE TO MEET RELEVANT ENVI-
   35  RONMENTAL REQUIREMENTS.
   36    (V) "MAJOR ELECTRIC GENERATING FACILITY" SHALL MEAN A  MAJOR  ELECTRIC
   37  GENERATING  FACILITY  AS  DEFINED  IN  SECTION  ONE HUNDRED SIXTY OF THE
   38  PUBLIC SERVICE LAW.
   39    (D) THE AUTHORITY IS HEREBY AUTHORIZED AND DIRECTED  TO  EXERCISE  ALL
   40  THE  POWERS  NECESSARY  OR  CONVENIENT  TO  CARRY OUT AND EFFECTUATE THE
   41  PURPOSES AND PROVISIONS OF THIS SUBDIVISION; AND AS  INCIDENTAL  THERETO
   42  AND  CONSISTENT WITH THE PROVISIONS OF PARAGRAPH (E) OF THIS SUBDIVISION
   43  TO DEVELOP AND ISSUE APPLICATION FORMS, TO ESTABLISH ELIGIBILITY  CRITE-
   44  RIA,  TO  ESTABLISH  A  COMPETITIVE  SOLICITATION PROCESS AND EVALUATION
   45  CRITERIA, TO COORDINATE WITH ANY OTHER PUBLIC ENTITY  AS  SUCH  TERM  IS
   46  DEFINED  IN SECTION ONE THOUSAND FIVE OF THIS TITLE, AND GENERALLY TO DO
   47  ANY AND EVERYTHING NECESSARY OR CONVENIENT TO CARRY OUT THE PURPOSES  OF
   48  THIS SUBDIVISION.
   49    (E)   THE   AUTHORITY  SHALL  CONDUCT  COMPETITIVE  SOLICITATIONS  FOR
   50  PROPOSALS, SUBMITTED BY MAJOR ELECTRIC GENERATING FACILITIES UNDERTAKING
   51  ANY  REPOWERING  PROJECT,  QUALIFIED  ENERGY  INFRASTRUCTURE  INVESTMENT
   52  PROJECT  OR QUALIFIED NEW CONSTRUCTION PROJECT AS SUCH TERMS ARE DEFINED
   53  IN THIS SUBDIVISION, FOR ASSISTANCE FROM NEGOTIABLE BONDS ISSUED BY  THE
   54  AUTHORITY  PURSUANT  TO THE PROVISIONS OF THIS SUBDIVISION. SUCH COMPET-
   55  ITIVE SOLICITATIONS SHALL BE DESIGNED IN A MANNER AND FORM TO BE  DETER-
   56  MINED  BY  THE AUTHORITY IN CONSULTATION WITH THE DEPARTMENT OF TAXATION
       S. 2521                             3
    1  AND FINANCE, THE COMPTROLLER, AND THE  PRESIDENT  OF  THE  EMPIRE  STATE
    2  DEVELOPMENT CORPORATION.  A SCHEDULE FOR SUCH COMPETITIVE SOLICITATIONS,
    3  AWARD  SELECTION,  AND DISTRIBUTION OF FUNDS SHALL BE ESTABLISHED BY THE
    4  AUTHORITY  IN  CONSULTATION WITH THE DEPARMTENT OF TAXATION AND FINANCE,
    5  THE COMPTROLLER, AND THE  PRESIDENT  OF  THE  EMPIRE  STATE  DEVELOPMENT
    6  CORPORATION.    THE  AUTHORITY  SHALL  RANK THE PROPOSALS IT RECEIVES IN
    7  RESPONSE TO COMPETITIVE SOLICITATIONS  AND  CHOOSE  THE  HIGHEST  RANKED
    8  PROPOSALS  MEASURED  ON  THE  FOLLOWING CRITERIA TO BE CONSIDERED IN THE
    9  AGGREGATE:
   10    (I) THE AMOUNT OF ASSISTANCE REQUESTED  IN  PROPORTION  TO  THE  TOTAL
   11  QUANTITY   OF   MEGAWATTS  OF  NEW  GENERATION  CAPACITY  THAT  WILL  BE
   12  CONSTRUCTED;
   13    (II) THE EXTENT TO WHICH AN AWARD WILL RESULT IN NEW  CAPITAL  INVEST-
   14  MENT IN THE STATE BY THE APPLICANT;
   15    (III)  THE  EXTENT  TO  WHICH AN AWARD IS CONSISTENT WITH ANY REGIONAL
   16  ECONOMIC DEVELOPMENT COUNCIL STRATEGIES AND PRIORITIES;
   17    (IV) THE TYPE AND COST OF FACILITIES AND EQUIPMENT TO BE  CONSTRUCTED,
   18  ENLARGED OR INSTALLED IF THE APPLICANT WERE TO RECEIVE AN AWARD;
   19    (V)  THE APPLICANT'S PAYROLL, SALARIES, BENEFITS AND NUMBER OF JOBS AT
   20  THE FACILITY FOR WHICH AN AWARD IS REQUESTED;
   21    (VI) THE NUMBER OF JOBS THAT WILL BE CREATED OR RETAINED AS APPLICABLE
   22  WITHIN THE STATE IN RELATION TO THE REQUESTED AWARD AND  THE  EXTENT  TO
   23  WHICH  THE  APPLICANT  WILL  AGREE TO COMMIT TO CREATING OR RETAINING AS
   24  APPLICABLE SUCH JOBS AS A CONDITION TO RECEIVING AN AWARD;
   25    (VII) WHETHER THE APPLICANT IS AT RISK OF CLOSING OR CURTAILING FACIL-
   26  ITIES OR OPERATIONS IN THE STATE, RELOCATING  FACILITIES  OR  OPERATIONS
   27  OUT  OF  THE STATE, OR LOSING A SIGNIFICANT NUMBER OF JOBS IN THE STATE,
   28  IN THE ABSENCE OF AN AWARD;
   29    (VIII) THE SIGNIFICANCE OF THE APPLICANT'S FACILITY TO THE ECONOMY  OF
   30  THE AREA IN WHICH SUCH FACILITY IS LOCATED; AND
   31    (IX)  THE  EXTENT TO WHICH AN AWARD WILL RESULT IN AN ADVANTAGE FOR AN
   32  APPLICANT IN RELATION TO THE APPLICANT'S COMPETITORS WITHIN THE STATE.
   33    (F) THE AUTHORITY SHALL REPLY TO REQUESTS ISSUED TO IT BY THE  DEPART-
   34  MENT  OF PUBLIC SERVICE, PURSUANT TO SECTION SEVENTY-THREE OF THE PUBLIC
   35  SERVICE LAW, WITHIN THIRTY DAYS OF RECEIPT OF ANY SUCH REQUEST.
   36    S 3. This act shall take effect on the ninetieth day  after  it  shall
   37  have become a law.