Bill Text: NY S09744 | 2023-2024 | General Assembly | Introduced
Bill Title: Relates to the green jobs-green New York program and on-bill recovery loan agreements.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed) 2024-06-06 - referred to energy [S09744 Detail]
Download: New_York-2023-S09744-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9744 IN SENATE May 28, 2024 ___________ Introduced by Sen. PARKER -- (at request of the Energy Research Develop- ment Authority) -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommunications AN ACT to amend the public authorities law, the public service law and the real property law, in relation to the green jobs-green New York program The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (ii) of paragraph (b) of subdivision 2 of 2 section 1896 of the public authorities law, as amended by chapter 388 of 3 the laws of 2011, is amended to read as follows: 4 (ii) loans shall not exceed thirteen thousand dollars per applicant 5 for approved qualified energy efficiency services for residential struc- 6 tures, and twenty-six thousand dollars per applicant for approved quali- 7 fied energy efficiency services for non-residential structures, 8 provided, however, that the authority may permit a loan in excess of 9 such amounts if the total cost of energy efficiency measures financed by 10 such loan will [achieve] include a payback period [of fifteen years or11less] which does not exceed the useful life of the energy efficiency 12 measures installed, but in no event shall any such loan exceed [twenty-13five] fifty thousand dollars per applicant for residential structures 14 and fifty thousand dollars per applicant for non-residential structures; 15 and for multi-family structures loans shall be in amounts determined by 16 the authority, provided, however, that the authority shall assure that a 17 significant number of residential structures are included in the 18 program; 19 § 2. Paragraph (a) of subdivision 5 of section 1896 of the public 20 authorities law, as added by section 1 of part DD of chapter 58 of the 21 laws of 2012, is amended to read as follows: 22 (a) For each loan issued for qualified energy efficiency services that 23 is to be repaid through an on-bill recovery mechanism[, the New York24state energy research and development authority shall record, pursuant25to article nine of the real property law, in the office of the appropri-26ate recording officer, a declaration with respect to the propertyEXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14587-01-4S. 9744 2 1improved by such services of the existence of the loan and stating the2total amount of the loan, the term of the loan, and that the loan is3being repaid] through a charge on an electric or gas meter associated 4 with the property, the on-bill recovery loan agreement shall allow for 5 the purchaser or transferee to agree through written express assumption 6 provided in accordance with the terms of the on-bill recovery loan that 7 such purchaser or transferee is responsible for future on-bill recovery 8 charges, and in the absence of such written express assumption, the 9 original seller, transferor, or current loan holder of the subject prop- 10 erty shall continue to be responsible for payment of such remaining 11 charges through direct billing and payment to the authority, or its 12 agent. [The declaration shall further state that it is being filed13pursuant to this section and, unless fully satisfied prior to sale or14transfer of the property, the loan repayment utility meter charge shall15survive changes in ownership, tenancy, or meter account responsibility16and, until fully satisfied, shall constitute the obligation of the17person responsible for the meter account. Such declaration shall not18constitute a mortgage and shall not create any security interest or lien19on the property. Upon satisfaction of the loan, the authority shall file20a declaration of repayment pursuant to article nine of the real property21law.] 22 § 3. Paragraph (d) of subdivision 2 of section 66-m of the public 23 service law, as added by chapter 388 of the laws of 2011, is amended to 24 read as follows: 25 (d) unless fully satisfied prior to sale or transfer, that (i) the 26 on-bill recovery charges for any services provided at the customer's 27 premises shall survive changes in ownership, tenancy or meter account 28 responsibility if the New York state energy research and development 29 authority shall have recorded a declaration pursuant to article nine of 30 the real property law with respect to such property for the existence of 31 an on-bill recovery loan, and (ii) that arrears in on-bill recovery 32 charges at the time of account closure or meter transfer shall remain 33 the responsibility of the incurring customer, unless expressly assumed 34 by a subsequent purchaser of the property subject to such charges; 35 § 4. Paragraph (a) of subdivision 4 of section 242 of the real proper- 36 ty law, as added by chapter 388 of the laws of 2011, is amended to read 37 as follows: 38 (a) Any person, firm, company, partnership or corporation offering to 39 sell real property which is subject to a green jobs-green New York 40 on-bill recovery charge pursuant to title nine-A of article eight of the 41 public authorities law and which provides that such charge shall survive 42 changes in ownership, tenancy or meter account responsibility if not 43 fully satisfied prior to sale or transfer, shall provide written notice 44 to the prospective purchaser or the prospective purchaser's agent, stat- 45 ing as follows: "This property is subject to a green jobs-green New York 46 on-bill recovery charge". Such notice shall also state the total amount 47 of the original charge, the payment schedule and the approximate remain- 48 ing balance, a description of the energy efficiency services performed, 49 including improvements to the property, and an explanation of the bene- 50 fit of the green jobs-green New York qualified energy efficiency 51 services. Such notice shall be provided by the seller prior to accepting 52 a purchase offer; provided that such notice is not necessary if the loan 53 agreement provides that upon sale or transfer of the subject property 54 the purchaser or transferee is only responsible for on-bill recovery 55 charges after sale or transfer if they agree through written express 56 assumption provided in accordance with the terms of the on-bill recoveryS. 9744 3 1 loan agreement, and in the absence of such assumption, the original 2 seller, transfer, or current loan holder of the subject property shall 3 be responsible for payment of such remaining charges through direct 4 billing and payment to the New York state energy research and develop- 5 ment authority, or its agent. 6 § 5. This act shall take effect immediately.
