Bill Text: NY S09744 | 2023-2024 | General Assembly | Introduced

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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

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                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  or
    11  less]  which  does  not  exceed the useful life of the energy efficiency
    12  measures installed, but in no event shall any such loan exceed  [twenty-
    13  five]  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  York
    24  state  energy  research and development authority shall record, pursuant
    25  to article nine of the real property law, in the office of the appropri-
    26  ate recording officer,  a  declaration  with  respect  to  the  property

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14587-01-4
        S. 9744                             2

     1  improved  by  such services of the existence of the loan and stating the
     2  total amount of the loan, the term of the loan, and  that  the  loan  is
     3  being  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  filed
    13  pursuant  to  this  section and, unless fully satisfied prior to sale or
    14  transfer of the property, the loan repayment utility meter charge  shall
    15  survive  changes  in ownership, tenancy, or meter account responsibility
    16  and, until fully satisfied,  shall  constitute  the  obligation  of  the
    17  person  responsible  for  the  meter account. Such declaration shall not
    18  constitute a mortgage and shall not create any security interest or lien
    19  on the property. Upon satisfaction of the loan, the authority shall file
    20  a declaration of repayment pursuant to article nine of the real property
    21  law.]
    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 recovery
        S. 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.