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A06731 Summary:

BILL NOA06731
 
SAME ASSAME AS S06598
 
SPONSORStern
 
COSPNSR
 
MLTSPNSR
 
Add 605-g, R & SS L
 
Provides for accidental disability retirement for deputy sheriffs in Suffolk county.
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A06731 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A6731
 
SPONSOR: Stern
  PURPOSE OR GENERAL IDEA OF BILL: To expand the C-PACE program to include projects related to climate and resiliency goals.   SUMMARY OF PROVISIONS: Section one updates the legislative intent of the commercial property assessed clean energy program (C-PACE) to reflect the goals of the Climate Leadership and Community Protection Act (CLCPA). Section two updates C-PACE definitions to include new uses of CPACE for resiliency and water efficiency improvements. This section also clari- fies existing study and audit requirements for existing C-Pace projects. Section three removes the cost effectiveness standard to increase the type of projects eligible for C-PACE funding and imposes financing requirements to ensure the value of the property can be maintained. This section also requires consent of the municipality for funding of the project. Section four of this bill requires new energy efficiency improvement guidelines from NYSERDA to facilitate this new legislation. Section five provides the effective date.   JUSTIFICATION: The C-PACE was enacted more than ten years ago and this legislation represents critical updates to keep up with our changing climate and newly enacted climate goals. Since enactment seventy-one municipalities across the State have passed local laws allowing for C-PACE financing in their communities, representing investments of over $200 million. These changes will allow for new types of projects that will be required for compliance with the CLCPA and since C-PACE are privately funded will be done at no costs to the taxpayers. Commercial property owners routinely seek financing for improvements that are consistent with the State's energy and climate goals and which are not required by law, but that are not deemed 'cost-effective'- for example beneficial electrification, renewable energy, storage, and deep energy efficiency. This removal of "cost effectiveness" will allow these projects to qualify for C-PACE financing. In the past 3 years, several states, including Connecticut, Wisconsin, Massachusetts and others have either amended their enabling statutes to remove cost-effectiveness rand/or published program guidelines that attach C-PACE financing of new buildings to the achievement of simple energy performance or design standards. With New York's ambitious climate and resiliency goals, it is critical that C-PACE is utilized to its fullest potential. C-PACE has proven to be a valuable tool to fund energy efficiency retrofits throughout the state, however enabling C-PACE to fund the full cost of energy efficien- cy, renewable energy, and resiliency will accelerate the adoption of these projects ahead of mandated building codes. If we as a state want buildings to incorporate technologies and standards that will hasten decarbonization, then it is paramount we re-examine how 'cost effective- ness' is impeding the adoption of C-PACE financing.   PRIOR LEGISLATIVE HISTORY: New bill.   FISCAL IMPLICATIONS: None to the state.   EFFECTIVE DATE: This act shall take effect immediately.
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