A08712 Summary:

BILL NO    A08712A

SAME AS    Same as S 5783-A, S 5871

SPONSOR    Gabryszak

COSPNSR    Schroeder, Schimminger, Jaffee, DelMonte, Peoples-Stokes, Quinn,
           Hayes, Giglio

MLTSPNSR   Corwin

Amd S1005, Pub Auth L; amd S183, Ec Dev L

Authorizes unallocated expansion or replacement power to be allocated for
western New York economic development fund benefits.

A08712 Actions:

BILL NO    A08712A

06/04/2009 referred to energy
06/10/2009 amend (t) and recommit to energy
06/10/2009 print number 8712a
01/06/2010 referred to energy

A08712 Votes:

A08712 Memo:

BILL NUMBER:A8712A

TITLE OF BILL:  An act to amend the public authorities law and the
economic development law, in relation to authorizing unallocated expan-
sion or replacement power to be allocated for western New York economic
development fund benefits

PURPOSE: The creation of this economic development fund currently has a
model within the existing statute under energy cost savings benefits
program. Since this would comply with the intent under section 1005 of
the Public Authorities Law, this fund would simply expand NYPA's abili-
ties to assist with the economic development in Western New York.

SUMMARY OF PROVISIONS:  Section 2 Gives the Authority authorization to
allocate unallocated and relinquished or withdrawn expansion and
replacement power to be used for Western New York economic development
fund benefits.

Section 3 Defines eligibility criteria for qualification for such allo-
cations

JUSTIFICATION: Under Section 1005 of the Public Authorities Law, a
designated amount of expansion and replacement power must be allocated
to businesses located within 30 miles of the Niagara Power Project. A
large amount of this expansion/replacement power is unallocated, due to
a combination of factors, including business closure and portions of
allocations being returned to NYPA by companies unable to meet the
criteria for that allocation.

In addition to this unallocated power is the allocated but not yet
utilized allocation. When expansion/replacement contracts are authorized
by NYPA, the contracts have a stipulation that allocations be utilized
within a certain period of time. During this time period, while the
power can not be allocated to another company, it is sold at market rate
until the company is ready to draw down their allocation.

This bill designates that the proceeds form the sale of this unallocated
power and allocated but not yet being utilized power be placed into an
economic development fund for Western New York. Utilization of this
funding for Western New York abides by the intent of section 1005, which
designates the expansion/replacement power be allocated within 30 miles
of the Niagara Power Project.

LEGISLATIVE HISTORY: 2009: This is a New Bill

FISCAL IMPLICATIONS: None to the state

EFFECTIVE DATE: This Law would take effect immediately.