Bill Text: NY S06651 | 2017-2018 | General Assembly | Amended
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-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 6651--A 2017-2018 Regular Sessions IN SENATE June 9, 2017 ___________ Introduced by Sen. FLANAGAN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee 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. "Authority" shall have the same meaning as in subdivision two of 18 section eighteen hundred fifty-one of this article. 19 2. "Zero carbon emitter" means a facility that uses atomic energy to 20 generate electricity. 21 3. "Atomic energy" means all forms of energy released in the course of 22 nuclear fission or nuclear transformation. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13102-06-7S. 6651--A 2 1 § 1902. Zero carbon emission investment program. Within three months 2 of the effective date of this title, the public service commission is 3 hereby authorized and directed to establish the zero carbon emission 4 investment program. 5 § 1903. Administration by the authority. Within six months of the 6 effective date of this title, the authority is hereby authorized and 7 directed to administer the zero carbon emission investment program. The 8 authority shall implement the program as set forth by the department of 9 public service, in consultation with the power authority of the state of 10 New York, and the department of environmental conservation. The authori- 11 ty is authorized and directed to: 12 1. use monies made available for the program pursuant to sections 13 nineteen hundred six and nineteen hundred seven of this title to achieve 14 the purposes of the program, specifically to award zero carbon emitters 15 for avoided emissions; 16 2. ensure monies are made available to qualifying zero carbon emitters 17 no less than sixty days after the final quarterly auction of that year; 18 and 19 3. exercise such other powers as are necessary for the proper adminis- 20 tration of the program as directed and authorized by the department of 21 public service. 22 § 1904. Calculation of awards. Awards to qualifying zero carbon emit- 23 ters shall be determined pursuant to contracts between the authority and 24 zero carbon emitters related to the avoided emissions of the plant. 25 § 1905. Annual reporting. No later than October first, two thousand 26 eighteen and October first of each year thereafter, the president of the 27 authority shall issue an annual report to the governor, the temporary 28 president of the senate, the speaker of the assembly, the minority lead- 29 er of the senate and the minority leader of the assembly concerning the 30 authority's activities related to the zero carbon emission investment 31 program created pursuant to this title. 32 § 1906. Funds administration. The authority shall ensure that not less 33 than the total awards issued to qualifying zero carbon emitters is made 34 available for the purpose of funding the zero carbon emission investment 35 program. 36 § 1907. Miscellaneous. The authority shall finance the zero carbon 37 emission investment program established pursuant to this title through 38 any funds the authority has retained or is authorized to collect pursu- 39 ant to section eighteen hundred fifty-four of this article and shall 40 fund the zero carbon emissions investment program prior to funding any 41 other program implemented by the authority. Provided, however, the 42 authority shall not increase or collect additional fees, rentals, penal- 43 ties or other charges authorized and in existence prior to the effective 44 date of this title for the financing of such program. 45 § 2. This act shall take effect immediately, and upon enactment, the 46 zero emission credit as part of the clean energy standard as implemented 47 by the public service commission shall be deemed null and void, and no 48 charges shall be assessed against any regulated entity of the department 49 of public service pursuant to such prior order or if already assessed, 50 shall be refunded pro-rata to any rate payer.