Bill Text: NY S08389 | 2023-2024 | General Assembly | Introduced
Bill Title: Provides that allocation of funds from the clean water state revolving fund and the drinking water revolving fund by the environmental facilities corporation shall be proportional according to population of municipalities and shall not be subject to dollar limitations.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-25 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S08389 Detail]
Download: New_York-2023-S08389-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8389 IN SENATE January 25, 2024 ___________ Introduced by Sen. SCARCELLA-SPANTON -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, the environmental conserva- tion law and the public health law, in relation to the allocation of funds from the clean water state revolving fund and the drinking water revolving fund by the environmental facilities corporation The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (a) of subdivision 1 of section 1285-j of the 2 public authorities law, as amended by chapter 262 of the laws of 2007, 3 is amended to read as follows: 4 (a) The corporation shall undertake and provide assistance in support 5 of the program to make financial assistance available to municipalities 6 to encourage and support the planning, development and construction of 7 municipal water pollution control projects in accordance with the 8 provisions of this section, section 17-1909 of the environmental conser- 9 vation law, and to make financial assistance available to eligible 10 borrowers through linked deposits made in accordance with article 11 sixteen of the state finance law. Moneys of the fund shall be allocated 12 to municipalities for eligible projects in proportion to the population 13 of such municipality and shall not be subject to a dollar amount limita- 14 tion. 15 § 2. Paragraph g of subdivision 1 of section 17-1909 of the environ- 16 mental conservation law, as amended by chapter 262 of the laws of 2007, 17 is amended to read as follows: 18 g. "Intended use plan" means the plan prepared pursuant to subdivision 19 two of this section, identifying the intended uses of the amounts avail- 20 able in the fund, including but not limited to: (i) a list of those 21 projects for construction of publicly owned treatment works on the 22 priority list developed pursuant to subdivision two of this section; 23 (ii) a list of projects developed pursuant to subdivision two of this 24 section anticipated to be financed by the fund through the water 25 pollution control linked deposit program; (iii) a description of the 26 short and long term goals and objectives of the fund; (iv) information 27 on the activities to be supported, including a description of project 28 categories, discharge requirements under the Federal Water Pollution EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14236-01-4S. 8389 2 1 Control Act, terms of financial assistance, and eligible borrowers 2 pursuant to the water pollution control linked deposit program served; 3 (v) the criteria and method established for the distribution of funds; 4 and (vi) the amount of moneys from the fund[, not to exceed ten million5dollars annually,] to be made available for linked loans under the water 6 pollution control linked deposit program during the period covered by 7 such intended use plan. 8 § 3. Paragraph a of subdivision 3 of section 17-1909 of the environ- 9 mental conservation law, as amended by chapter 259 of the laws of 2021, 10 is amended to read as follows: 11 a. The corporation is authorized to promulgate regulations, developed 12 in consultation with the commissioner and the director of the division 13 of the budget, for the purpose of carrying out its responsibilities 14 under this section, including establishing criteria and standards for 15 determining the amount of financial assistance to a municipality for an 16 eligible project; provided, however, that such regulations shall provide 17 that moneys of the fund shall be allocated to municipalities for eligi- 18 ble projects in proportion to the population of such municipality and 19 shall not be subject to a dollar amount limitation. To the extent finan- 20 cial assistance to a municipality for an eligible project is provided as 21 a loan from the proceeds of bonds or notes of the corporation, the 22 amount of an allocation applicable to the portion of such eligible 23 project financed with such loan shall be, subject to such maximum finan- 24 cial limitations as may otherwise be necessary and prescribed by the 25 commissioner and the director of the division of the budget, thirty- 26 three and one-third percent of the principal amount of such loan 27 outstanding at any time for such eligible project, to the extent reason- 28 ably practicable, and subject to such deviation as may be necessary, in 29 connection with the administration and investment of moneys in the fund, 30 unless allocations in differing amounts are necessary to preclude a 31 determination by the commissioner or the corporation pursuant to para- 32 graph e of subdivision eight of this section or unless an allocation in 33 a differing amount is required for an innovative technology demon- 34 stration project; provided, however, that in the case of any munici- 35 pality which has, during the period commencing on June first, nineteen 36 hundred ninety-two and ending on September thirtieth, two thousand twen- 37 ty-four, (i) submitted an application for financial assistance in the 38 form of such a loan for an eligible project, which application has been 39 accepted by the corporation, (ii) closed on such loan, and (iii) 40 commenced construction of such eligible project, the allocation applica- 41 ble to the portion of such project financed with such loan shall be, 42 subject to maximum financial limitations as may otherwise be necessary 43 and prescribed by the commissioner and the director of the division of 44 the budget, fifty percent of the principal balance outstanding on such 45 loan at any time for such eligible project, to the extent reasonably 46 practicable, and subject to such deviation as may be necessary, in 47 connection with the administration and investment of moneys in the fund, 48 unless allocations in differing amounts are necessary to preclude a 49 determination by the commissioner or the corporation pursuant to para- 50 graph e of subdivision eight of this section or unless an allocation in 51 a differing amount is required for an innovative technology demon- 52 stration project. 53 § 4. Subdivision 1 of section 1162 of the public health law, as 54 amended by chapter 134 of the laws of 2007, is amended to read as 55 follows:S. 8389 3 1 1. The corporation is authorized to promulgate regulations, developed 2 in consultation with the commissioner and the director of the division 3 of the budget, for the purpose of carrying out its responsibilities 4 under this title, including establishing criteria and standards for 5 determining the amount and kind of financial assistance to a recipient 6 for an eligible project. To the extent financial assistance to a recipi- 7 ent for an eligible project is provided from the proceeds of bonds or 8 notes of the corporation, the amount of an allocation applicable to the 9 portion of such eligible project financed with such financial assistance 10 shall be determined by the corporation in accordance with such regu- 11 lations, if any; provided, however, that such regulations shall provide 12 that moneys of the fund shall be allocated to municipalities for eligi- 13 ble projects in proportion to the population of such municipality and 14 shall not be subject to a dollar amount limitation. 15 § 5. Paragraph (b) of subdivision 1 of section 1285-m of the public 16 authorities law, as added by chapter 134 of the laws of 2007, is amended 17 to read as follows: 18 (b) There is hereby established in the custody of the corporation a 19 special fund to be known as the drinking water revolving fund. Except as 20 otherwise provided by this paragraph, moneys in the drinking water 21 revolving fund shall be segregated from all other funds of or in the 22 custody of the corporation subject to any rights of holders of corpo- 23 ration bonds or notes issued for the purposes of this section. Moneys 24 in the drinking water revolving fund shall only be used in accordance 25 with the provisions of this section and title four of article eleven of 26 the public health law; provided that, in addition, to the extent permit- 27 ted by federal or state law, moneys in the drinking water revolving fund 28 may be transferred to and used for the purposes authorized for the water 29 pollution control revolving fund, and moneys in the water pollution 30 control revolving fund may be transferred to and used for the purposes 31 authorized for the drinking water revolving fund. The moneys in the 32 drinking water revolving fund shall be applied to or paid out for 33 authorized purposes of such fund in accordance with subdivision four of 34 this section and title four of article eleven of the public health law. 35 To the extent approved by the commissioner of health and the commission- 36 er of environmental conservation and notwithstanding the provisions of 37 paragraph (a) of this subdivision, moneys in the drinking water revolv- 38 ing fund and in the water pollution control revolving fund may be held 39 together; provided that all such moneys are segregated from all other 40 funds of or in the custody of the corporation subject to any rights of 41 holders of corporation bonds or notes issued for the purposes of this 42 section; provided further, that the corporation shall establish and 43 maintain or cause there to be established and maintained a system of 44 tracking the application of such moneys to the purposes of this section. 45 The corporation may establish within the drinking water revolving fund 46 additional accounts or subaccounts and specify any conditions applicable 47 to the transfer of moneys between such accounts or subaccounts. With 48 respect to each eligible project, the corporation shall establish and 49 maintain a record of the allocation provided for the benefit of such 50 project in accordance with the terms of the applicable financing agree- 51 ment. Moneys of the fund shall be allocated to municipalities for eligi- 52 ble projects in proportion to the population of such municipality and 53 shall not be subject to a dollar amount limitation. 54 § 6. This act shall take effect immediately.
