|SAME AS||No same as|
|Add Art 8 Title 9-B SS1900 - 1907, 1020-ii, amd S1855, ren SS1020-ii - 1020-kk to be SS1020-jj - 1020-ll, Pub Auth L; amd SS18-a & 65, add S66-n, Pub Serv L; amd SS242 & 291-j, RP L|
|Creates a commercial on-bill repayment program to permit financing of clean energy projects by commercial enterprises.|
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STATE OF NEW YORK ________________________________________________________________________ 10038 IN ASSEMBLY June 10, 2014 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Paulin) -- read once and referred to the Committee on Energy AN ACT to amend the public authorities law, the public service law and, the real property law, in relation to establishing the "Commercial on-bill repayment act of 2014" The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Legislative findings. The legislature finds and declares 2 that promoting widespread dissemination of energy conservation and clean 3 energy technologies represents a clear and cost-effective strategy for 4 building owners and occupants in New York state to curtail the emission 5 of greenhouse gases and harmful air contaminants, reducing the state's 6 contribution to climate change, reducing dependence on fossil fuels, and 7 creating green jobs to sustain and enhance our economy. However, lack of 8 affordable and accessible financing for many owners of commercial build- 9 ings has hindered progress in fully realizing the promise of these tech- 10 nologies. On-bill repayment facilitates the financing of clean energy 11 projects through the utility bill, which can allow for more affordable 12 financing terms than would be otherwise available due to the security of 13 utility bill payments. On-bill repayment will incentivize private inves- 14 tors to invest in clean energy improvements in New York, will stimulate 15 the state's economy by creating jobs for contractors and other persons 16 who complete new energy improvements, and will reinforce the leadership 17 role of the state in the new energy economy, thereby attracting clean 18 energy manufacturing facilities and related jobs to the state. On-bill 19 repayment expands access to clean energy upgrades without relying on 20 public funding. 21 Therefore, it is the intent of the legislature to enact a "Commercial 22 On-Bill Repayment" program to animate the market for clean energy 23 improvements and accelerate the flow of private capital into clean ener- 24 gy projects, and thus achieve significant reductions in greenhouse gas 25 emissions and toxic emissions well above the level of reductions that 26 would be achieved through business as usual. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15284-03-4A. 10038 2 1 § 2. Article 8 of the public authorities law is amended by adding a 2 new title 9-B to read as follows: 3 TITLE 9-B 4 COMMERCIAL ON-BILL REPAYMENT PROGRAM 5 Section 1900. Short title. 6 1901. Definitions. 7 1902. Purpose. 8 1903. Administration by the authority. 9 1904. Commercial on-bill repayment program. 10 1905. Advisory council. 11 1906. Annual reporting. 12 1907. Funds, administration and evaluation and coordination. 13 § 1900. Short title. This title shall be known and may be cited as the 14 "Commercial On-Bill Repayment Act of 2014". 15 § 1901. Definitions. As used in this title, the following terms shall 16 have the following meanings: 17 1. "Applicant" means a person who owns, leases or manages an eligible 18 structure or a portion of such eligible structure and who has the 19 authority to contract for the provision of qualified clean energy 20 improvements to such eligible structure or portion of such eligible 21 structure. 22 2. "Authority" shall have the same meaning as in subdivision two of 23 section eighteen hundred fifty-one of this article. 24 3. "Commercial structure" means a building other than a non-residen- 25 tial structure, multi-family structure, or residential structure. 26 4. "Distribution utility" means a combination electric and gas corpo- 27 ration having annual revenues in excess of two hundred million dollars 28 and the Long Island power authority. 29 5. "Multi-family structure" means a multi-family structure as such 30 term is defined in section 1891 of the public authorities law. 31 6. "Non-residential structure" means a non-residential structure as 32 such term is defined in section eighteen hundred ninety-one of this 33 chapter. 34 7. "Eligible project" means qualified clean energy improvements for an 35 eligible structure. 36 8. "Eligible structure" means (a) a commercial structure or (b) a 37 non-residential structure. 38 9. "OBR agreement" means a standard written agreement executed by a 39 distribution utility customer of record with respect to the subject 40 property, the owner of the subject property and an OBR partner or its 41 agent governing the terms of an OBR obligation. 42 10. "OBR master servicer" means an entity retained by the authority to 43 implement the tasks set forth in section nineteen hundred four of this 44 title. 45 11. "OBR master servicer agreement" means an agreement developed by 46 the authority as provided in section nineteen hundred four of this 47 title. 48 12. "OBR obligation" means an obligation to repay a financing provided 49 to a utility customer for the installation of an eligible project pursu- 50 ant to an on-bill repayment program. An OBR obligation will exist where 51 a financing pursuant to an OBR agreement has been approved by the OBR 52 master servicer and has not been satisfied. 53 13. "OBR partner" means a person or entity providing financing for 54 qualified clean energy improvements pursuant to the commercial on-bill 55 repayment program which enters into an OBR master servicer agreement. 56 OBR partners may include, but are not limited to, banks, savings andA. 10038 3 1 loan institutions, credit unions, project developers, or energy service 2 companies. Financing may be provided in the form of a loan, lease, power 3 purchase agreement, energy service agreement, or other financing struc- 4 ture approved by the authority. 5 14. "On-bill repayment charge" means a charge, constituting repayment 6 of all or a portion of any OBR obligation, that is included on a utility 7 bill. 8 15. "Program" means the commercial on-bill repayment program created 9 by this title. 10 16. "Qualified clean energy improvements" means improvements, includ- 11 ing clean energy resources such as energy efficiency, renewable energy, 12 combined heat and power, demand response, and any other low-carbon ener- 13 gy technology reasonably designated by the authority, that are perma- 14 nently affixed to real property and meet cost effectiveness standards 15 established by the authority. 16 17. "Residential structure" means a residential structure as such term 17 is defined in section eighteen hundred ninety-one of this chapter. 18 § 1902. Purpose. There is hereby created a commercial on-bill repay- 19 ment program. The purpose of the program is to: 20 1. Promote energy efficiency, energy conservation and the installation 21 of clean energy technologies; 22 2. Reduce energy consumption and energy costs; 23 3. Reduce greenhouse gas emissions; 24 4. Create green job opportunities; and 25 5. Promulgate a replicable, scalable approach to financing clean ener- 26 gy projects for the purpose of animating the market for such projects 27 and accelerating the flow of capital into such projects. 28 § 1903. Administration by the authority. Within three hundred days of 29 the effective date of this title, the authority is hereby authorized and 30 directed to establish and administer the commercial on-bill repayment 31 program. The authority shall implement the program in consultation with 32 the department of public service, the power authority of the state of 33 New York, the Long Island power authority, the department of economic 34 development and the department of environmental conservation. 35 § 1904. Commercial on-bill repayment program. 1. (a) there is hereby 36 created a commercial on-bill repayment program. 37 (b) In administering such program, the authority is authorized and 38 directed to: 39 (i) enter into contracts with one or more program implementers to 40 perform such functions as the authority deems appropriate; 41 (ii) retain the services of a master servicer; 42 (iii) develop, in consultation with the distribution utilities and the 43 department of public service, an OBR master servicer agreement that 44 includes, but is not limited to, provisions regarding the following: 45 (1) protocols for communication between and among the OBR partners, 46 the distribution utilities and the OBR master servicer; 47 (2) approval by the master servicer of OBR agreements, upon submission 48 of conforming agreements by OBR partners along with certification by a 49 licensed engineer that the work scope financed under the OBR agreement 50 conforms with standards set by the authority and that the work was 51 completed and certification by the OBR partner that the notice required 52 by paragraph (b) of subdivision two of this section was delivered to the 53 applicant; 54 (3) billing and collection of on-bill repayment charges by the 55 distribution utilities and payment of such charges to the OBR partners; 56 (4) defaults in payment by applicants;A. 10038 4 1 (5) handling of disputes and complaints by participants in the commer- 2 cial OBR program, provided that with respect to disputes and complaints 3 involving OBR obligations relating to eligible structures other than 4 commercial structures, the authority shall be responsible for resolving 5 such complaints and disputes, and that with respect to disputes and 6 complaints involving OBR obligations relating to commercial structures, 7 such matters shall be addressed through binding arbitration. 8 (6) payment of a fee by the OBR partner within thirty days of initi- 9 ation of an on-bill repayment charge of one hundred dollars per OBR 10 obligation to the distribution utility in whose service territory such 11 customer is located to help defray the costs that are directly associ- 12 ated with implementing the program; 13 (7) payment of a fee by the OBR partner within thirty days of the 14 initiation of the on-bill repayment charge to the authority to help 15 defray the costs that are directly associated with the program; 16 (8) payment of a fee by the OBR partner within thirty days of initi- 17 ation of the on-bill repayment charge of one quarter of one percent of 18 the amount of the OBR obligation to the distribution utility in whose 19 service territory such customer is located to help defray the costs that 20 are directly associated with the program; 21 (9) payment of a fee by the OBR partner to the master servicer as 22 required by the agreement between the authority and the master servicer; 23 and 24 (10) payment of a fee by the OBR partner to the master service as 25 required by the agreement between the authority and the master servicer 26 for fees associated with recording the declaration and satisfaction of 27 the OBR obligation. 28 (iv) establish guidance concerning qualified clean energy improve- 29 ments; 30 (v) establish cost effectiveness standards for such improvements. The 31 cost-effectiveness of an eligible project shall be evaluated solely on 32 the basis of the costs and projected savings to the applying customer or 33 such other party as may step into the shoes of the applying customer, 34 using an engineering process that incorporates best practices as deter- 35 mined by the authority for (1) standard baselining, including prior 36 billing data and usage patterns, (2) savings projections, (3) design, 37 construction and commissioning; (4) operations, maintenance and monitor- 38 ing, and (5) measurement and verification; provided however that based 39 upon the most recent customer data available, on an annualized basis, 40 the monthly on-bill repayment amount for a package of measures shall not 41 exceed one-twelfth of the savings projected to result from the installa- 42 tion of the measures provided further that nothing herein shall be 43 construed to prohibit or prevent customers whose primary heating energy 44 source is from deliverable fuels from participating in the program; and 45 (vi) establish requirements for ongoing disclosure to the authority of 46 (a) selected data concerning the energy, environmental and financial 47 outcomes of qualified energy projects implemented with financing 48 provided through the commercial OBR program and (b) all information that 49 the authority shall be required to include in its annual report to the 50 governor, the temporary president of the senate, the speaker of the 51 assembly, the minority leader of the senate and the minority leader of 52 the assembly concerning the authority's activities related to the 53 commercial on-bill repayment program as set forth in section nineteen 54 hundred seven of this title; and 55 (vii) exercise such other powers as are necessary or convenient for 56 the proper administration of the program, including, at the discretionA. 10038 5 1 of the authority, entering into agreements with applicants and with such 2 state or federal agencies as necessary to directly receive rebates and 3 grants available for eligible projects and apply such funds to repayment 4 of applicant OBR obligations. 5 2. (a) Applicants seeking to participate in the commercial OBR program 6 shall arrange to obtain, from OBR partners, financing for qualified 7 clean energy improvements. Each OBR partner shall establish its own 8 credit standards for such financing; and The authority shall establish a 9 process for receipt and resolution of customer complaints concerning 10 on-bill repayment charges arising from OBR obligations relating to 11 eligible structures other than commercial structures and for addressing 12 delays and defaults in customer payments with respect to such OBR obli- 13 gations. 14 (b) Prior to the approval by the authority of each OBR agreement 15 entered into by an applicant pursuant to this section, the OBR partner 16 shall cause to be provided to each applicant proposing to incur such OBR 17 obligation a notice stating, in clear and conspicuous terms: 18 (i) the financial and legal obligations and risks of putting in place 19 the OBR obligation, including the obligation to provide or consent to 20 the customer's utility providing the authority information on the sourc- 21 es and quantities of energy used in the customer's premises and any 22 improvements or modifications to the premises, use of the premises or 23 energy consuming appliances or equipment of any type that may signif- 24 icantly affect energy usage; 25 (ii) that the on-bill repayment charge will be billed by such custom- 26 er's utility company and that failure to pay such on-bill repayment 27 charge may result in the customer having his or her electricity and/or 28 gas service terminated for non-payment; 29 (iii) that performance of the qualified clean energy improvements may 30 not result in lower monthly energy costs over time, based on additional 31 factors that contribute to monthly energy costs; and 32 (iv) (1) in the case of OBR obligations relating to eligible projects 33 performed on eligible structures other than commercial structures, that 34 it is the sole responsibility of the authority to handle consumer 35 inquiries and complaints related to the operation and lending associated 36 with the program, provided further that the authority shall provide a 37 mechanism to receive such consumer inquiries and complaints. 38 (2) in the case of OBR obligations relating to eligible projects 39 performed on commercial structures, that all disputes related to the 40 operation and financing associated with the program shall be subject to 41 arbitration, as provided in the OBR master agreement. 42 3. The authority shall make available to the public, on an anonymized 43 basis, selected data concerning the energy, environmental and financial 44 outcomes of qualified energy projects implemented with financing 45 provided through the commercial OBR program. 46 4. (a) For each OBR obligation that is approved by the authority, the 47 New York State Energy Research and Development Authority shall record or 48 cause to be recorded, pursuant to article nine of the real property law, 49 in the office of the appropriate recording officer, a declaration with 50 respect to the property improved by such services of the existence of 51 the OBR obligation and stating the total amount of the OBR obligation, 52 the term of the OBR obligation, and that the OBR obligation is being 53 repaid through a charge on an electric or gas meter associated with the 54 property. The declaration shall further state that it is being filed 55 pursuant to this section and, unless fully satisfied prior to sale or 56 transfer of the property, the OBR obligation shall survive changes inA. 10038 6 1 ownership, tenancy, or meter account responsibility and, until fully 2 satisfied, shall constitute the obligation of the person responsible for 3 the meter account. Such declaration shall not constitute a mortgage and 4 shall not create any security interest or lien on the property. Upon 5 satisfaction of the OBR obligation, the authority shall file a declara- 6 tion of repayment pursuant to article nine of the real property law. 7 (b) The recording officer shall record such declarations in the same 8 book, provided under section three hundred fifteen of the real property 9 law, in which such recording officer records deeds. 10 § 1905. Advisory council. 1. The authority shall establish a commer- 11 cial on-bill repayment advisory council to advise the authority on the 12 creation and implementation of the program. The council shall consist 13 of: 14 (a) The president of the authority; the secretary of state; ; the 15 chair of the department of public service; the president of the power 16 authority of the state of New York; the president of the Long Island 17 power authority; the commissioner of economic development; the commis- 18 sioner of environmental conservation; or the designees of such persons; 19 and 20 (b) Unions, including building trades and property services; large- 21 scale construction contractors; investment market experts; financial 22 market experts; environmental non-governmental organizations; and real 23 estate experts. 24 2. The president of the authority shall serve as the chair of the 25 council. 26 § 1906. Annual reporting. 1. No later than October first, two thou- 27 sand fifteen and October first of each year thereafter, the president of 28 the authority shall issue an annual report to the governor, the tempo- 29 rary president of the senate, the speaker of the assembly, the minority 30 leader of the senate and the minority leader of the assembly concerning 31 the authority's activities related to the commercial on-bill repayment 32 program created pursuant to this title. Such report shall include, but 33 not be limited to the following information: 34 2. The status of the authority's activities and outcomes related to 35 section nineteen hundred four of this title. Such report shall include, 36 but not be limited to: 37 (a) The number of persons who have applied for OBR obligations to be 38 established through the program; 39 (b) The number of OBR obligations in default; 40 (c) The amount and nature of the costs incurred by the authority for 41 the activities described in paragraph (b) of subdivision one of section 42 nineteen hundred four of this title; 43 (d) The authority's activities and outcomes related to establishing 44 the commercial on-bill repayment mechanism, including the number of 45 persons who have applied the opportunity to utilize on-bill repayment 46 and the results of the evaluation program performed pursuant to subdivi- 47 sion three of section nineteen hundred four of this title; 48 (e) The amount expended by the authority in support of the program and 49 the purposes for which such funds have been expended; 50 (f) The number of customers participating in the program and the 51 amounts financed pursuant to OBR agreements with respect to which OBR 52 obligations have been established; 53 (g) The number of program participants who are in arrears in their 54 utility accounts for electric and/or gas service; 55 (h) The number of program participants who are in arrears in their 56 on-bill repayment charge payments;A. 10038 7 1 (i) The number of program participants whose utility service has been 2 terminated for non-payment; 3 (j) A description of the geographic distribution of OBR obligations 4 made; 5 (k) An estimate of the energy savings resulting from this program; and 6 (l) An estimate of the average project cost. 7 § 1907. Funds, administration and evaluation and coordination. The 8 authority is authorized to accept, as agent of the state, any gift, 9 grant, devise or bequest, whether conditional or unconditional, includ- 10 ing but not limited to federal grants, and to use monies made available 11 for the program from any public or private source, for the purpose of 12 administering and evaluating the effectiveness of the program. 13 § 3. Subdivision 4 of section 1855 of the public authorities law, as 14 amended by chapter 487 of the laws of 2009, is amended to read as 15 follows: 16 4. To make rules and regulations governing the exercise of its corpo- 17 rate powers and the fulfillment of its corporate purposes under this 18 title [ and title] and titles nine-A and nine-b of this article, which 19 shall be filed with the department of state in the manner provided by 20 section one hundred two of the executive law. 21 § 4. Paragraph (h) of subdivision 2 of section 18-a of the public 22 service law, as amended by section 2 of part A of chapter 173 of the 23 laws of 2013, is amended by to read as follows: 24 (h) On-bill recovery charges billed pursuant to section sixty-six-m of 25 this chapter and on-bill repayment charges billed pursuant to section 26 sixty-six-n of this chapter shall be excluded from any determination of 27 an entity's gross operating revenues derived from intrastate utility 28 operations for purposes of this section. 29 § 5. Paragraph (d) of subdivision 6 of section 65 of the public 30 service law, as amended by chapter 388 of the laws of 2011, is amended 31 to read as follows: 32 (d) for installation of capital improvements and fixtures to promote 33 energy efficiency upon the request and consent of the customer, includ- 34 ing but not limited (i) to the performance of qualified energy efficien- 35 cy services for customers participating in green jobs-green New York 36 on-bill recovery pursuant to section sixty-six-m of this article; or 37 (ii) the performance of qualified energy clean energy improvements for 38 customers participating in the commercial on-bill repayment program 39 pursuant to section sixty-six-n of this article. 40 § 6. The public service law is amended by adding a new section 66-n to 41 read as follows: 42 § 66-n. Commercial on-bill repayment program. 1. (a) the commission 43 shall, within forty-five days of the effective date of this section, 44 commence a proceeding to investigate the implementation by each combina- 45 tion electric and gas corporation having annual revenues in excess of 46 two hundred million dollars of a billing and collection service for 47 on-bill repayment charges in payment of obligations of its customers 48 pursuant to the commercial on-bill repayment program established pursu- 49 ant to title nine-b of article eight of the public authorities law and, 50 within one hundred fifty days of the effective date of this section, the 51 commission shall make a determination establishing the billing and 52 collection procedures for such on-bill repayment charges. The department 53 shall consult with the New York State Energy Research and Development 54 Authority in the preparation of its recommendations to the commission 55 for such determination. The commission shall require such electric and 56 gas corporations to offer billing and collection services for commercialA. 10038 8 1 on-bill repayment charges for eligible customers within three hundred 2 days of the effective date of this section. To the extent practicable, 3 such electric and gas corporations shall utilize existing electronic 4 data interchange infrastructure or other existing billing infrastructure 5 to implement their billing and collection responsibilities under this 6 section. 7 (b) The commission may suspend such an electric and gas corporation's 8 participation in the commercial on-bill repayment program provided that 9 the commission, after conducting a hearing as provided in section twenty 10 of this chapter, makes a finding that there is a significant increase in 11 arrears or utility service disconnections that the commission determines 12 is directly related to on-bill repayment charges, or a finding of other 13 good cause. Any suspension pursuant to this subdivision shall not affect 14 such electric and gas corporation's obligations with respect to any 15 existing OBR obligations outstanding at the time of such suspension, 16 including the continued collection of all on-bill repayment charges 17 related thereto. 18 (c) The on-bill repayment charge shall be collected on the bill from 19 the customer's electric corporation unless the qualified clean energy 20 improvements at that customer's premises result in more projected energy 21 savings on the customer's gas bill than the electric bill, in which case 22 such charge shall be collected on the customer's gas corporation bill. 23 2. Schedules for the collection and billing of on-bill repayment 24 charges shall provide: 25 (a) That billing and collection services shall be available to all 26 customers who have met the standards established by the New York state 27 energy research and development authority for participation in the 28 commercial on-bill repayment program and have executed an OBR agreement 29 for the performance of qualified clean energy improvements under such 30 program and have established an OBR obligation pursuant to section nine- 31 teen hundred four of the public authorities law; 32 (b) That the responsibilities of such electric and gas corporation are 33 limited to providing billing and collection services for on-bill repay- 34 ment charges as directed by the authority; 35 (c) Unless fully satisfied prior to sale or transfer, that (i) the 36 on-bill repayment charges for any services provided at the customer's 37 premises shall survive changes in ownership, tenancy or meter account 38 responsibility, and (ii) that arrears in on-bill repayment charges at 39 the time of account closure or meter transfer shall remain the responsi- 40 bility of the incurring customer, unless expressly assumed by a subse- 41 quent purchaser of the property subject to such charges; 42 (d) With respect to a customer account with an electric and gas corpo- 43 ration that has been closed and in which arrearages exist, including an 44 arrearage with respect to an on-bill repayment charge, the commission 45 may adopt rules providing that after a period of time to be determined 46 by the commission, the share of total arrearage that is attributable to 47 the on-bill repayment charge may be deemed, as of a date certain, to be 48 an obligation owed directly to the OBR partner and not to the electric 49 and gas corporation; 50 (e) With respect to a customer remitting less than the total amount 51 due for electric and/or gas services and on-bill repayment charges, the 52 authority may require that payments be allocated to the utility and the 53 OBR partner in accordance with a waterfall, such waterfall to be 54 designed with an objective of not increasing utility bad debt expense, 55 with priority in the waterfall being given to past-due amounts in 56 accordance with the billing period during which any such amounts wereA. 10038 9 1 accrued, with no allocations of arrearages or current charges being made 2 to either the utility or the OBR partner while arrearages of either type 3 from any earlier billing period remain outstanding, and, with respect to 4 charges that accrued during the same billing period, allocations to the 5 utility in respect of any non-OBR charges in all cases being made ahead 6 of allocations to the OBR partner for any OBR charges 7 (f) Billing and collection services shall be available without regard 8 to whether the energy or fuel delivered by the utility is the customer's 9 primary energy source; 10 (g) Unless otherwise precluded by law, participation in the commercial 11 on-bill repayment program shall not affect a customer's eligibility for 12 any rebate or incentive offered by a utility or the New York state ener- 13 gy research and development authority; and 14 (h) Any other provisions necessary to provide for the billing and 15 collection of on-bill repayment charges. 16 § 7. Sections 1020-ii, 1020-jj and 1020-kk of the public authorities 17 law, as renumbered by chapter 388 of the laws of 2011, are renumbered 18 sections 1020-jj, 1020-kk and 1020-ll and a new section 1020-ii is added 19 to read as follows: 20 § 1020-ii. Commercial on-bill repayment. 1. Within three hundred days 21 of the effective date of this section, the authority shall establish a 22 program to provide for the billing and collection of on-bill repayment 23 charges for payment of obligations of its customers to the commercial 24 on-bill repayment program established pursuant to title nine-b of arti- 25 cle eight of the public authorities law. Such program shall be consist- 26 ent with the standards set forth in section sixty-six-n of the public 27 service law. Billing and collection services under such tariffs shall 28 commence as soon as practicable after establishment of the program. 29 2. The authority may suspend its offering of the on-bill repayment 30 charge provided that the authority makes a finding that there is a 31 significant increase in arrears or utility service disconnections that 32 the authority determines is directly related to such charge, or a find- 33 ing of other good cause. 34 § 8. Section 242 of the real property law is amended by adding a new 35 subdivision 5 to read as follows: 36 5. Disclosure prior to the sale of real property to which a commercial 37 on-bill repayment charge applies. (a) any person, firm, company, part- 38 nership or corporation offering to sell real property which is subject 39 to a commercial on-bill repayment charge pursuant to title nine-b of 40 article eight of the public authorities law shall provide written notice 41 to the prospective purchaser or the prospective purchaser's agent, stat- 42 ing as follows: "this property is subject to a commercial on-bill repay- 43 ment charge". Such notice shall also include, as an attachment, the OBR 44 agreement governing the commercial on-bill repayment obligation, includ- 45 ing any modifications thereto, a description of the clean energy 46 improvements performed, including improvements to the property, and an 47 explanation of the benefit of the commercial on-bill repayment qualified 48 clean energy services. such notice shall be provided by the seller prior 49 to accepting a purchase offer. 50 (b) Any prospective or actual purchaser who has suffered a loss due to 51 a violation of this subdivision is entitled to recover any actual 52 damages incurred from the person offering to sell or selling said real 53 property. 54 § 9. section 291-j of the real property law, as added by section 2 of 55 part DD of chapter 58 of the laws of 2012, is amended to read as 56 follows:A. 10038 10 1 § 291-j. Recording of declarations by the New York state energy 2 research and development authority. 1. Pursuant to subdivision five of 3 section eighteen hundred ninety-six of the public authorities law, the 4 New York state energy research and development authority shall record or 5 cause to be recorded, in the office of the appropriate recording offi- 6 cer, a declaration evidencing the existence of a loan as described ther- 7 ein and, upon satisfaction of such loan, such authority shall file a 8 declaration of repayment and full satisfaction of the loan repayment 9 utility meter charge. The recording officer shall record such declara- 10 tions in the same book, provided under section three hundred fifteen of 11 the real property law, in which such recording officer records deeds. 12 2. Pursuant to subdivision four of section nineteen hundred four of 13 the public authorities law, the New York state energy research and 14 development authority shall record or cause to be recorded, in the 15 office of the appropriate recording officer, a declaration evidencing 16 the existence of an OBR obligation as described therein and, upon satis- 17 faction of such OBR obligation, such authority shall file a declaration 18 of repayment and full satisfaction of the OBR obligation. The recording 19 officer shall record such declaration in the same book, provided under 20 section three hundred fifteen of this article, in which such recording 21 officer records deeds. 22 § 10. This act shall take effect immediately.