Assemblymember Dennis H. Gabryszak (D-Cheektowaga) announced that the Assembly has passed the final budget which includes the establishment of the Western New York Power Proceeds Allocation Board (A.9058-D). This legislation will fully implement the Western New York Economic Development Benefits Fund to improve infrastructure and revitalize Western New York. Assemblyman Gabryszak previously had authored legislation to establish the Western New York Power Proceeds Allocation Board (A.7095).
“This legislation will put our region on the road to economic prosperity by helping to create better-paying jobs for hardworking local families,” Assemblymember Gabryszak said. “This will also help stimulate Western New York’s economy by drawing more businesses to the area.”
The creation of the allocation board will allow for full implementation of a 2010 law authored by Assemblymember Gabryszak that allows businesses located within 30 miles of the Niagara Project to take advantage of power that is currently being returned to the New York Power Authority (NYPA) (Ch. 436 of 2010).
“The establishment of this board enables us to oversee the transfer of unused NYPA funds,” Assemblymember Gabryszak said. “This way, we can ensure that they are committed to initiatives aimed at boosting our economy and creating more jobs for hardworking Western New Yorkers.”
In addition, NYPA will be required to cooperate in the allocation process for all economic development funds and to make available a full accounting report of power sales to ensure transparency and accountability within the Western New York Economic Development Benefits Fund, Assemblymember Gabryszak added.