Returns funds of the power authority of the state of New York which were transferred in the budget; requires any funds of the authority which are transferred by law to be used for the purpose of economic development and/or energy rate relief within counties that host renewable generation facilities owned or operated by the power authority.
STATE OF NEW YORK
________________________________________________________________________
5250
2019-2020 Regular Sessions
IN SENATE
April 18, 2019
___________
Introduced by Sen. ORTT -- read twice and ordered printed, and when
printed to be committed to the Committee on Corporations, Authorities
and Commissions
AN ACT relating to funds of the power authority of the state of New
York, and to repeal section 19 of part TTT of chapter 59 of the laws
of 2019, relating to providing for the administration of certain funds
and accounts related to the 2019-20 budget, relating thereto
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 19 of part TTT of chapter 59 of the laws of 2019,
2 relating to providing for the administration of certain funds and
3 accounts related to the 2019-20 budget, is REPEALED.
4 § 2. Within thirty days of the effective date of this act, the comp-
5 troller shall return any funds that were transferred pursuant to section
6 19 of part TTT of chapter 59 of the laws of 2019 to the power authority
7 of the state of New York.
8 § 3. Any future transfer of moneys from the power authority of the
9 state of New York to any other fund of the state including the general
10 fund shall be used for the purpose of economic development and/or energy
11 rate relief within counties that host renewable generation facilities
12 owned or operated by the power authority of the state of New York.
13 § 4. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11276-01-9