A09224 Summary:
| BILL NO | A09224 |
| SAME AS | No Same As |
| SPONSOR | Jacobson |
| COSPNSR | |
| MLTSPNSR | |
| Amd §1854, Pub Auth L | |
| Authorizes the New York State Energy Research and Development Authority to loan money to utility companies for purposes of capital expenditures; authorizes the issuance of bonds. | |
A09224 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 9224 2025-2026 Regular Sessions IN ASSEMBLY November 3, 2025 ___________ Introduced by M. of A. JACOBSON -- read once and referred to the Commit- tee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to authorizing the New York State Energy Research and Development Authority to loan money to utility companies for purposes of capital expenditures The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 1854 of the public authorities law is amended by 2 adding a new subdivision 27 to read as follows: 3 27. (a) To loan money to utility companies for purposes of capital 4 expenditures. The authority shall make such loans at an interest rate no 5 more than one percent above the interest rate at which the bonds for 6 this purpose were issued. For purposes of this subdivision, the term 7 utility companies shall mean those utilities regulated by the public 8 service commission. 9 (b) The authority is authorized to issue bonds specifically for the 10 purpose of funding the loans described in paragraph (a) of this subdivi- 11 sion. 12 § 2. This act shall take effect on the ninetieth day after it shall 13 have become a law. Effective immediately, the addition, amendment and/or 14 repeal of any rule or regulation necessary for the implementation of 15 this act on its effective date are authorized to be made and completed 16 on or before such effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD13940-01-5