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S05990 Summary:

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S05990 Committee Votes:

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S05990 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         5990--A
            Cal. No. 1353
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                       May 9, 2017
                                       ___________
 
        Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
          printed to be committed to the Committee on  Energy  and  Telecommuni-
          cations  --  reported  favorably from said committee, ordered to first
          report, amended on first  report,  ordered  to  a  second  report  and
          ordered reprinted, retaining its place in the order of second report
 
        AN  ACT to amend the general municipal law, in relation to the municipal
          sustainable energy loan program
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision  6 of section 119-ff of the general municipal
     2  law, as added by chapter 497 of the laws of 2009, is amended to read  as
     3  follows:
     4    6. "Renewable energy system" means an energy generating system for the
     5  generation  of  electric or thermal energy, to be used primarily at such
     6  property, except when the owner of real property is a commercial entity,
     7  by means of solar thermal, solar photovoltaic, wind, geothermal, anaero-
     8  bic digester gas-to-electricity  systems,  fuel  cell  technologies,  or
     9  other  renewable energy technology approved by the authority not includ-
    10  ing the combustion or pyrolysis of solid waste.
    11    § 2. Subdivisions 1 and 6 of section 119-gg of the  general  municipal
    12  law, as added by chapter 497 of the laws of 2009, are amended to read as
    13  follows:
    14    1.  The  legislative  body  of any municipal corporation may, by local
    15  law, establish a sustainable energy loan  program  using  federal  grant
    16  assistance  or  federal  credit  support or monies from the state of New
    17  York or any state authority as defined by  section  two  of  the  public
    18  authorities law available for this purpose.
    19    6.  [The]  a.  For  loans  made to an owner of real property that is a
    20  commercial entity, not-for-profit organization, or entity other than  an
    21  individual, the municipal corporation shall have the authority to impose
    22  requirements  on  the  maximum  amount that may be borrowed through such
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11056-05-7
        S. 5990--A                          2
 
     1  loan, which may consider factors including but not limited to the  prop-
     2  erty  value,  projected savings, project cost, and existing indebtedness
     3  secured by such property.
     4    b.  For  loans made to an owner of real property who is an individual,
     5  the principal amount of each such loan, excluding  interest,  shall  not
     6  exceed the lesser of ten percent of the appraised real property value or
     7  the  actual  cost  of  installing the renewable energy system and energy
     8  efficiency improvements, including the  costs  of  necessary  equipment,
     9  materials, and labor, the costs of each related energy audit and renewa-
    10  ble  energy  system  feasibility  study, and the cost of verification of
    11  such renewable energy system and energy efficiency improvements.
    12    § 3. This act shall take effect immediately.