Bill Text: NY S06651 | 2017-2018 | General Assembly | Introduced

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

---

Bill Title: Creates the zero carbon emission investment program to be established by PSC and administered by NYSERDA; awards zero carbon emitters for avoided emissions.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Engrossed - Dead) 2018-01-03 - REFERRED TO ENERGY AND TELECOMMUNICATIONS [S06651 Detail]

Download: New_York-2017-S06651-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                          6651
                               2017-2018 Regular Sessions
                    IN SENATE
                                      June 9, 2017
                                       ___________
        Introduced  by COMMITTEE ON RULES -- read twice and ordered printed, and
          when printed to be committed to the Committee on Rules
        AN ACT to amend the public authorities law, in relation to creating  the
          zero carbon emission investment program
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Article 8 of the  public  authorities  law  is  amended  by
     2  adding a new title 9-B to read as follows:
     3                                  TITLE 9-B
     4                   ZERO CARBON EMISSION INVESTMENT PROGRAM
     5  Section 1900. Short title.
     6          1901. Definitions.
     7          1902. Zero carbon emission investment program.
     8          1903. Administration by the authority.
     9          1904. Calculation of awards.
    10          1905. Annual reporting.
    11          1906. Funds administration.
    12          1907. Miscellaneous.
    13    § 1900. Short title. This title shall be known and may be cited as the
    14  "zero carbon emission investment program".
    15    §  1901. Definitions. As used in this title, the following terms shall
    16  have the following meanings:
    17    1. "Avoided emissions" means the estimate of co2 emissions, as  calcu-
    18  lated  by  the authority, that would have been released if a zero carbon
    19  emitter had not existed.
    20    2. "Authority" shall have the same meaning as in  subdivision  two  of
    21  section eighteen hundred fifty-one of this article.
    22    3.  "Zero  carbon emitter" means a facility that uses atomic energy to
    23  generate electricity.
    24    4. "Atomic energy" means all forms of energy released in the course of
    25  nuclear fission or nuclear transformation.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13102-04-7
        S. 6651                             2
     1    5. "Clearing price" means the average of the quarterly Regional Green-
     2  house Gas Initiative auction clearing prices for the current year.
     3    §  1902.  Zero carbon emission investment program. Within three months
     4  of the effective date of this title, the public  service  commission  is
     5  hereby  authorized  and  directed  to establish the zero carbon emission
     6  investment program.
     7    § 1903. Administration by the authority.  Within  six  months  of  the
     8  effective  date  of  this  title, the authority is hereby authorized and
     9  directed to administer the zero carbon emission investment program.  The
    10  authority  shall implement the program as set forth by the department of
    11  public service, in consultation with the power authority of the state of
    12  New York, and the department of environmental conservation. The authori-
    13  ty is authorized and directed to:
    14    1. use monies made available for  the  program  pursuant  to  sections
    15  nineteen hundred six and nineteen hundred seven of this title to achieve
    16  the  purposes of the program, specifically to award zero carbon emitters
    17  for avoided emissions;
    18    2. ensure monies are made available to qualifying zero carbon emitters
    19  no less than sixty days after the final quarterly auction of that  year;
    20  and
    21    3. exercise such other powers as are necessary for the proper adminis-
    22  tration  of  the program as directed and authorized by the department of
    23  public service.
    24    § 1904. Calculation of awards. The authority shall calculate and issue
    25  an award to each zero  carbon  emitter  in  the  following  manner:  the
    26  authority  shall take the average of the four quarterly auction clearing
    27  prices of the most recent year multiplied by fifty percent of  the  zero
    28  carbon emitter's avoided emissions to determine such award. The authori-
    29  ty shall calculate the annual avoided emissions for each facility.
    30    §  1905.  Annual  reporting. No later than October first, two thousand
    31  eighteen and October first of each year thereafter, the president of the
    32  authority shall issue an annual report to the  governor,  the  temporary
    33  president of the senate, the speaker of the assembly, the minority lead-
    34  er  of the senate and the minority leader of the assembly concerning the
    35  authority's activities related to the zero  carbon  emission  investment
    36  program created pursuant to this title.
    37    § 1906. Funds administration. The authority shall ensure that not less
    38  than  the total awards issued to qualifying zero carbon emitters is made
    39  available for the purpose of funding the zero carbon emission investment
    40  program.
    41    § 1907. Miscellaneous. The authority shall  finance  the  zero  carbon
    42  emission  investment  program established pursuant to this title through
    43  any funds available  to  the  authority  pursuant  to  section  eighteen
    44  hundred fifty-four of this article or any other relevant law.  Provided,
    45  however,  the  authority  shall not increase or collect additional fees,
    46  rentals, penalties or other charges authorized and in existence prior to
    47  the effective date of this title for the financing of such program.
    48    § 2. This act shall take effect immediately, and upon  enactment,  the
    49  zero emission credit as part of the clean energy standard as implemented
    50  by  the  public service commission shall be deemed null and void, and no
    51  charges shall be assessed against any regulated entity of the department
    52  of public service pursuant to such prior order or if  already  assessed,
    53  shall be refunded pro-rata to any rate payer.