Bill Text: NY S04423 | 2017-2018 | General Assembly | Amended

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

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Bill Title: Directs the public service commission to conduct a study of the reforming the energy vision initiative.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Engrossed - Dead) 2018-01-03 - REFERRED TO ENERGY AND TELECOMMUNICATIONS [S04423 Detail]

Download: New_York-2017-S04423-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         4423--A
                               2017-2018 Regular Sessions
                    IN SENATE
                                    February 14, 2017
                                       ___________
        Introduced  by  Sen.  DeFRANCISCO -- read twice and ordered printed, and
          when printed to be committed to the Committee on Energy and Telecommu-
          nications -- committee discharged, bill amended, ordered reprinted  as
          amended and recommitted to said committee
        AN  ACT  to amend the public service law and the public authorities law,
          in relation to oversight by the  New  York  state  public  authorities
          control board
          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  5-a to read as follows:
     3    §  5-a.  Oversight  by  the  New York state public authorities control
     4  board.  1. Notwithstanding any other provision of law to  the  contrary,
     5  the  commission shall apply to, and obtain the approval of, the New York
     6  state public authorities control board created pursuant to article one-A
     7  of the public authorities law prior  to  taking  any  of  the  following
     8  actions:
     9    (a)  an  increase  in  rates,  charges, surcharges, assessments, fees,
    10  levies, or any other collections, which would increase revenues obtained
    11  from ratepayers by more than seven hundred thousand  dollars  and  which
    12  revenues  are  collected  solely  for and directed to the New York state
    13  energy research and  development  authority  and  would  be  effectuated
    14  through  a single order, decision, or administrative action or through a
    15  series of such activities; or
    16    (b) a transfer, repurposing, reprogramming, or any other  action  that
    17  would  change  the  use  of  money directed to the New York state energy
    18  research and development authority previously designated or intended for
    19  a different purpose.
    20    2. Each such application by the  commission  to  the  New  York  state
    21  public authorities control board shall contain a description of any such
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02549-02-7
        S. 4423--A                          2
     1  action  set  forth in subdivision one of this section and an explanation
     2  of why the action is just and reasonable and in the public interest.
     3    3.  The commission shall conduct a full cost-benefit analysis, includ-
     4  ing public comment and hearings, as to the impact of any such action and
     5  provide a copy of the analysis with its  application  to  the  New  York
     6  state public authorities control board.
     7    § 2. Section 1854 of the public authorities law is amended by adding a
     8  new subdivision 22 to read as follows:
     9    22.  Notwithstanding  any  other provision of law to the contrary, the
    10  authority shall apply to, and obtain the approval of, the New York state
    11  public authorities control board created pursuant to  article  one-A  of
    12  this  chapter prior to undertaking any transfer, repurposing, reprogram-
    13  ming, or any other action that would change the use of money  previously
    14  designated or intended for a different purpose. Each such application by
    15  the  authority  shall contain a description of any such action set forth
    16  in this subdivision and an explanation of why the  action  is  just  and
    17  reasonable  and  in  the  public interest. The authority shall conduct a
    18  full cost-benefit analysis, including public comment and hearings, as to
    19  the impact of any such action and provide a copy of  the  analysis  with
    20  its application to the New York state public authorities control board.
    21    §  3.  Subdivision  1  of section 51 of the public authorities law, as
    22  added by chapter 838 of the laws of 1983, paragraph k as added by  chap-
    23  ter  506 of the laws of 1995, paragraph 1 as added by chapter 468 of the
    24  laws of 2004, paragraph m as added by section 10 of part  E  of  chapter
    25  494  of the laws of 2009, and paragraph n as added by chapter 533 of the
    26  laws of 2010, is amended to read as follows:
    27    1. The New York state public authorities control board shall have  the
    28  power and it shall be its duty to receive applications for approval of:
    29    a. the financing and construction of any project; or
    30    b.  an  increase  in  rates,  charges,  surcharges, assessments, fees,
    31  levies, or any other collections, which would increase revenues obtained
    32  from ratepayers or taxpayers by more than seven hundred thousand dollars
    33  and which revenues are collected solely for and directed to the New York
    34  state energy research and development authority and would be effectuated
    35  through a single order, decision, or administrative action or through  a
    36  series of such activities; or
    37    c.  a  transfer,  repurposing, reprogramming, or any other action that
    38  would change the use of money directed to  the  New  York  state  energy
    39  research and development authority previously designated or intended for
    40  a different purpose.
    41    1-a.  Such  applications would be those that may be proposed by any of
    42  the following state public benefit corporations or entities:
    43    a. New York state environmental facilities corporation
    44    b. New York state housing finance agency
    45    c. New York state medical care facilities finance agency
    46    d. Dormitory authority
    47    e. New York state urban development corporation
    48    f. Job development authority
    49    g. Battery park city authority
    50    h. New York state project finance agency
    51    i. State of New York mortgage agency
    52    j. New York state energy research and development authority
    53    k. Long Island Power Authority
    54    l. Albany Convention Center Authority
        S. 4423--A                          3
     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. Public service commission
     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.
    15    1-b.  No  public benefit corporation subject to the provisions of this
    16  section shall make any commitment, enter into any agreement or incur any
    17  indebtedness for the purpose of acquiring,  constructing,  or  financing
    18  any  project  unless  prior approval has been received from the board by
    19  such public benefit corporation as provided herein.
    20    § 4. Subdivision 3 of section 51 of the  public  authorities  law,  as
    21  added by chapter 838 of the laws of 1983, is amended to read as follows:
    22    3.  The  board  may  approve  applications only upon its determination
    23  that[,]:
    24    a. with relation to any proposed project,  there  are  commitments  of
    25  funds  sufficient  to  finance  the acquisition and construction of such
    26  project; or
    27    b. a full cost-benefit analysis, including public  comment  and  hear-
    28  ings, has been conducted as to the impact of any of the following activ-
    29  ities that are subject to its jurisdiction pursuant to this section:
    30    (1)  an  increase  in  rates,  charges, surcharges, assessments, fees,
    31  levies, or any other collections; or
    32    (2) a transfer, repurposing, reprogramming, or any other  action  that
    33  would  change  the  use of money previously designated or intended for a
    34  different purpose; and
    35    c. that such cost-benefit analysis shows that the actions described in
    36  paragraph b of this subdivision are just, reasonable, and in the  public
    37  interest.    In determining the sufficiency of commitments of funds, the
    38  board may consider commitments of funds, projections of  fees  or  other
    39  revenues  and  security,  which  may,  in  the  discretion of the board,
    40  include collateral security sufficient to retire a proposed indebtedness
    41  or protect or indemnify against potential  liabilities  proposed  to  be
    42  undertaken. A copy of such determination shall be submitted to the chief
    43  executive officer of the appropriate public benefit corporation or other
    44  entity  subject  to  the board's jurisdiction and submitted to the state
    45  comptroller.
    46    § 5. This act shall take effect immediately.