S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 3941--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 23, 2015
                               ___________

Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
  printed to be committed to the Committee on  Energy  and  Telecommuni-
  cations  --  recommitted  to  the Committee on Energy and Telecommuni-
  cations in  accordance  with  Senate  Rule  6,  sec.  8  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

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 2016"

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Legislative findings. The legislature  finds  and  declares
that promoting widespread dissemination of energy conservation and clean
energy  technologies  represents a clear and cost-effective strategy for
building owners and occupants in New York state to curtail the  emission
of  greenhouse  gases and harmful air contaminants, reducing the state's
contribution to climate change, reducing dependence on fossil fuels, and
creating green jobs to sustain and enhance our economy. However, lack of
affordable and accessible financing for many owners of commercial build-
ings has hindered progress in fully realizing the promise of these tech-
nologies. On-bill repayment facilitates the financing  of  clean  energy
projects  through  the utility bill, which can allow for more affordable
financing terms than would be otherwise available due to the security of
utility bill payments. On-bill repayment will incentivize private inves-
tors to invest in clean energy improvements in New York, will  stimulate
the  state's  economy by creating jobs for contractors and other persons
who complete new energy improvements, and will reinforce the  leadership
role  of  the  state in the new energy economy, thereby attracting clean
energy manufacturing facilities and related jobs to the  state.  On-bill
repayment  expands  access  to  clean energy upgrades without relying on
public funding.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04873-05-6
              

S. 3941--A                          2

  Therefore, it is the intent of the legislature to enact a  "Commercial
On-Bill  Repayment"  program  to  animate  the  market  for clean energy
improvements and accelerate the flow of private capital into clean ener-
gy projects, and thus achieve significant reductions in  greenhouse  gas
emissions  and  toxic  emissions well above the level of reductions that
would be achieved through business as usual.
  S 2. Article 8 of the public authorities law is amended  by  adding  a
new title 9-B to read as follows:
                                 TITLE 9-B
                  COMMERCIAL ON-BILL REPAYMENT PROGRAM
SECTION 1900. SHORT TITLE.
        1901. DEFINITIONS.
        1902. PURPOSE.
        1903. ADMINISTRATION BY THE AUTHORITY.
        1904. COMMERCIAL ON-BILL REPAYMENT PROGRAM.
        1905. ADVISORY COUNCIL.
        1906. ANNUAL REPORTING.
        1907. FUNDS, ADMINISTRATION AND EVALUATION AND COORDINATION.
  S 1900. SHORT TITLE. THIS TITLE SHALL BE KNOWN AND MAY BE CITED AS THE
"COMMERCIAL ON-BILL REPAYMENT ACT OF 2016".
  S  1901. DEFINITIONS. AS USED IN THIS TITLE, THE FOLLOWING TERMS SHALL
HAVE THE FOLLOWING MEANINGS:
  1. "APPLICANT" MEANS A PERSON WHO OWNS, LEASES OR MANAGES AN  ELIGIBLE
STRUCTURE  OR  A  PORTION  OF  SUCH  ELIGIBLE  STRUCTURE AND WHO HAS THE
AUTHORITY TO CONTRACT  FOR  THE  PROVISION  OF  QUALIFIED  CLEAN  ENERGY
IMPROVEMENTS  TO  SUCH  ELIGIBLE  STRUCTURE  OR PORTION OF SUCH ELIGIBLE
STRUCTURE.
  2. "AUTHORITY" SHALL HAVE THE SAME MEANING AS IN  SUBDIVISION  TWO  OF
SECTION EIGHTEEN HUNDRED FIFTY-ONE OF THIS ARTICLE.
  3.  "COMMERCIAL  STRUCTURE" MEANS A BUILDING OTHER THAN A NON-RESIDEN-
TIAL STRUCTURE, MULTI-FAMILY STRUCTURE, OR RESIDENTIAL STRUCTURE.
  4. "DISTRIBUTION UTILITY" MEANS A COMBINATION ELECTRIC AND GAS  CORPO-
RATION  HAVING  ANNUAL REVENUES IN EXCESS OF TWO HUNDRED MILLION DOLLARS
AND THE LONG ISLAND POWER AUTHORITY.
  5. "MULTI-FAMILY STRUCTURE" MEANS A  MULTI-FAMILY  STRUCTURE  AS  SUCH
TERM IS DEFINED IN SECTION EIGHTEEN HUNDRED NINETY-ONE OF THIS ARTICLE.
  6.  "NON-RESIDENTIAL  STRUCTURE"  MEANS A NON-RESIDENTIAL STRUCTURE AS
SUCH TERM IS DEFINED IN SECTION  EIGHTEEN  HUNDRED  NINETY-ONE  OF  THIS
ARTICLE.
  7. "ELIGIBLE PROJECT" MEANS QUALIFIED CLEAN ENERGY IMPROVEMENTS FOR AN
ELIGIBLE STRUCTURE.
  8.  "ELIGIBLE  STRUCTURE"  MEANS  (A)  A COMMERCIAL STRUCTURE OR (B) A
NON-RESIDENTIAL STRUCTURE.
  9. "OBR AGREEMENT" MEANS A STANDARD WRITTEN AGREEMENT  EXECUTED  BY  A
DISTRIBUTION  UTILITY  CUSTOMER  OF  RECORD  WITH RESPECT TO THE SUBJECT
PROPERTY, THE OWNER OF THE SUBJECT PROPERTY AND AN OBR  PARTNER  OR  ITS
AGENT GOVERNING THE TERMS OF AN OBR OBLIGATION.
  10. "OBR MASTER SERVICER" MEANS AN ENTITY RETAINED BY THE AUTHORITY TO
IMPLEMENT  THE  TASKS SET FORTH IN SECTION NINETEEN HUNDRED FOUR OF THIS
TITLE.
  11. "OBR MASTER SERVICER AGREEMENT" MEANS AN  AGREEMENT  DEVELOPED  BY
THE  AUTHORITY  AS  PROVIDED  IN  SECTION  NINETEEN HUNDRED FOUR OF THIS
TITLE.
  12. "OBR OBLIGATION" MEANS AN OBLIGATION TO REPAY A FINANCING PROVIDED
TO A UTILITY CUSTOMER FOR THE INSTALLATION OF AN ELIGIBLE PROJECT PURSU-
ANT TO AN ON-BILL REPAYMENT PROGRAM. AN OBR OBLIGATION WILL EXIST  WHERE

S. 3941--A                          3

A  FINANCING  PURSUANT  TO AN OBR AGREEMENT HAS BEEN APPROVED BY THE OBR
MASTER SERVICER AND HAS NOT BEEN SATISFIED.
  13.  "OBR  PARTNER"  MEANS  A PERSON OR ENTITY PROVIDING FINANCING FOR
QUALIFIED CLEAN ENERGY IMPROVEMENTS PURSUANT TO THE  COMMERCIAL  ON-BILL
REPAYMENT  PROGRAM  WHICH  ENTERS INTO AN OBR MASTER SERVICER AGREEMENT.
OBR PARTNERS MAY INCLUDE, BUT ARE NOT LIMITED  TO,  BANKS,  SAVINGS  AND
LOAN  INSTITUTIONS, CREDIT UNIONS, PROJECT DEVELOPERS, OR ENERGY SERVICE
COMPANIES. FINANCING MAY BE PROVIDED IN THE FORM OF A LOAN, LEASE, POWER
PURCHASE AGREEMENT, ENERGY SERVICE AGREEMENT, OR OTHER FINANCING  STRUC-
TURE APPROVED BY THE AUTHORITY.
  14.  "ON-BILL REPAYMENT CHARGE" MEANS A CHARGE, CONSTITUTING REPAYMENT
OF ALL OR A PORTION OF ANY OBR OBLIGATION, THAT IS INCLUDED ON A UTILITY
BILL.
  15. "PROGRAM" MEANS THE COMMERCIAL ON-BILL REPAYMENT  PROGRAM  CREATED
BY THIS TITLE.
  16.  "QUALIFIED CLEAN ENERGY IMPROVEMENTS" MEANS IMPROVEMENTS, INCLUD-
ING CLEAN ENERGY RESOURCES SUCH AS ENERGY EFFICIENCY, RENEWABLE  ENERGY,
COMBINED HEAT AND POWER, DEMAND RESPONSE, AND ANY OTHER LOW-CARBON ENER-
GY  TECHNOLOGY  REASONABLY  DESIGNATED BY THE AUTHORITY, THAT ARE PERMA-
NENTLY AFFIXED TO REAL PROPERTY AND MEET  COST  EFFECTIVENESS  STANDARDS
ESTABLISHED BY THE AUTHORITY.
  17. "RESIDENTIAL STRUCTURE" MEANS A RESIDENTIAL STRUCTURE AS SUCH TERM
IS DEFINED IN SECTION EIGHTEEN HUNDRED NINETY-ONE OF THIS ARTICLE.
  S  1902.  PURPOSE. THERE IS HEREBY CREATED A COMMERCIAL ON-BILL REPAY-
MENT PROGRAM. THE PURPOSE OF THE PROGRAM IS TO:
  1. PROMOTE ENERGY EFFICIENCY, ENERGY CONSERVATION AND THE INSTALLATION
OF CLEAN ENERGY TECHNOLOGIES;
  2. REDUCE ENERGY CONSUMPTION AND ENERGY COSTS;
  3. REDUCE GREENHOUSE GAS EMISSIONS;
  4. CREATE GREEN JOB OPPORTUNITIES; AND
  5. PROMULGATE A REPLICABLE, SCALABLE APPROACH TO FINANCING CLEAN ENER-
GY PROJECTS FOR THE PURPOSE OF ANIMATING THE MARKET  FOR  SUCH  PROJECTS
AND ACCELERATING THE FLOW OF CAPITAL INTO SUCH PROJECTS.
  S  1903. ADMINISTRATION BY THE AUTHORITY. WITHIN THREE HUNDRED DAYS OF
THE EFFECTIVE DATE OF THIS TITLE, THE AUTHORITY IS HEREBY AUTHORIZED AND
DIRECTED TO ESTABLISH AND ADMINISTER THE  COMMERCIAL  ON-BILL  REPAYMENT
PROGRAM.  THE AUTHORITY SHALL IMPLEMENT THE PROGRAM IN CONSULTATION WITH
THE DEPARTMENT OF PUBLIC SERVICE, THE POWER AUTHORITY OF  THE  STATE  OF
NEW  YORK,  THE  LONG ISLAND POWER AUTHORITY, THE DEPARTMENT OF ECONOMIC
DEVELOPMENT AND THE DEPARTMENT OF ENVIRONMENTAL CONSERVATION.
  S 1904. COMMERCIAL ON-BILL REPAYMENT PROGRAM. 1. (A) THERE  IS  HEREBY
CREATED A COMMERCIAL ON-BILL REPAYMENT PROGRAM.
  (B)  IN  ADMINISTERING  SUCH  PROGRAM, THE AUTHORITY IS AUTHORIZED AND
DIRECTED TO:
  (I) ENTER INTO CONTRACTS WITH ONE  OR  MORE  PROGRAM  IMPLEMENTERS  TO
PERFORM SUCH FUNCTIONS AS THE AUTHORITY DEEMS APPROPRIATE;
  (II) RETAIN THE SERVICES OF A MASTER SERVICER;
  (III) DEVELOP, IN CONSULTATION WITH THE DISTRIBUTION UTILITIES AND THE
DEPARTMENT  OF  PUBLIC  SERVICE,  AN  OBR MASTER SERVICER AGREEMENT THAT
INCLUDES, BUT IS NOT LIMITED TO, PROVISIONS REGARDING THE FOLLOWING:
  (1) PROTOCOLS FOR COMMUNICATION BETWEEN AND AMONG  THE  OBR  PARTNERS,
THE DISTRIBUTION UTILITIES AND THE OBR MASTER SERVICER;
  (2) APPROVAL BY THE MASTER SERVICER OF OBR AGREEMENTS, UPON SUBMISSION
OF  CONFORMING  AGREEMENTS BY OBR PARTNERS ALONG WITH CERTIFICATION BY A
LICENSED ENGINEER THAT THE WORK SCOPE FINANCED UNDER THE  OBR  AGREEMENT
CONFORMS  WITH  STANDARDS  SET  BY  THE  AUTHORITY AND THAT THE WORK WAS

S. 3941--A                          4

COMPLETED AND CERTIFICATION BY THE OBR PARTNER THAT THE NOTICE  REQUIRED
BY PARAGRAPH (B) OF SUBDIVISION TWO OF THIS SECTION WAS DELIVERED TO THE
APPLICANT;
  (3)  BILLING  AND  COLLECTION  OF  ON-BILL  REPAYMENT  CHARGES  BY THE
DISTRIBUTION UTILITIES AND PAYMENT OF SUCH CHARGES TO THE OBR PARTNERS;
  (4) DEFAULTS IN PAYMENT BY APPLICANTS;
  (5) HANDLING OF DISPUTES AND COMPLAINTS BY PARTICIPANTS IN THE COMMER-
CIAL OBR PROGRAM, PROVIDED THAT WITH RESPECT TO DISPUTES AND  COMPLAINTS
INVOLVING  OBR  OBLIGATIONS  RELATING  TO ELIGIBLE STRUCTURES OTHER THAN
COMMERCIAL STRUCTURES, THE AUTHORITY SHALL BE RESPONSIBLE FOR  RESOLVING
SUCH  COMPLAINTS  AND  DISPUTES,  AND  THAT WITH RESPECT TO DISPUTES AND
COMPLAINTS INVOLVING OBR OBLIGATIONS RELATING TO COMMERCIAL  STRUCTURES,
SUCH MATTERS SHALL BE ADDRESSED THROUGH BINDING ARBITRATION.
  (6)  PAYMENT  OF A FEE BY THE OBR PARTNER WITHIN THIRTY DAYS OF INITI-
ATION OF AN ON-BILL REPAYMENT CHARGE OF  ONE  HUNDRED  DOLLARS  PER  OBR
OBLIGATION  TO  THE DISTRIBUTION UTILITY IN WHOSE SERVICE TERRITORY SUCH
CUSTOMER IS LOCATED TO HELP DEFRAY THE COSTS THAT ARE  DIRECTLY  ASSOCI-
ATED WITH IMPLEMENTING THE PROGRAM;
  (7)  PAYMENT  OF  A  FEE  BY THE OBR PARTNER WITHIN THIRTY DAYS OF THE
INITIATION OF THE ON-BILL REPAYMENT CHARGE  TO  THE  AUTHORITY  TO  HELP
DEFRAY THE COSTS THAT ARE DIRECTLY ASSOCIATED WITH THE PROGRAM;
  (8)  PAYMENT  OF A FEE BY THE OBR PARTNER WITHIN THIRTY DAYS OF INITI-
ATION OF THE ON-BILL REPAYMENT CHARGE OF ONE QUARTER OF ONE  PERCENT  OF
THE  AMOUNT  OF  THE OBR OBLIGATION TO THE DISTRIBUTION UTILITY IN WHOSE
SERVICE TERRITORY SUCH CUSTOMER IS LOCATED TO HELP DEFRAY THE COSTS THAT
ARE DIRECTLY ASSOCIATED WITH THE PROGRAM;
  (9) PAYMENT OF A FEE BY THE OBR PARTNER  TO  THE  MASTER  SERVICER  AS
REQUIRED BY THE AGREEMENT BETWEEN THE AUTHORITY AND THE MASTER SERVICER;
AND
  (10)  PAYMENT  OF  A  FEE BY THE OBR PARTNER TO THE MASTER SERVICER AS
REQUIRED BY THE AGREEMENT BETWEEN THE AUTHORITY AND THE MASTER  SERVICER
FOR  FEES  ASSOCIATED WITH RECORDING THE DECLARATION AND SATISFACTION OF
THE OBR OBLIGATION.
  (IV) ESTABLISH GUIDANCE CONCERNING  QUALIFIED  CLEAN  ENERGY  IMPROVE-
MENTS;
  (V)  ESTABLISH COST EFFECTIVENESS STANDARDS FOR SUCH IMPROVEMENTS. THE
COST-EFFECTIVENESS OF AN ELIGIBLE PROJECT SHALL BE EVALUATED  SOLELY  ON
THE BASIS OF THE COSTS AND PROJECTED SAVINGS TO THE APPLYING CUSTOMER OR
SUCH  OTHER  PARTY  AS MAY STEP INTO THE SHOES OF THE APPLYING CUSTOMER,
USING AN ENGINEERING PROCESS THAT INCORPORATES BEST PRACTICES AS  DETER-
MINED  BY  THE  AUTHORITY  FOR  (1) STANDARD BASELINING, INCLUDING PRIOR
BILLING DATA AND USAGE PATTERNS, (2) SAVINGS  PROJECTIONS,  (3)  DESIGN,
CONSTRUCTION AND COMMISSIONING, (4) OPERATIONS, MAINTENANCE AND MONITOR-
ING,  AND  (5) MEASUREMENT AND VERIFICATION; PROVIDED HOWEVER THAT BASED
UPON THE MOST RECENT CUSTOMER DATA AVAILABLE, ON  AN  ANNUALIZED  BASIS,
THE MONTHLY ON-BILL REPAYMENT AMOUNT FOR A PACKAGE OF MEASURES SHALL NOT
EXCEED ONE-TWELFTH OF THE SAVINGS PROJECTED TO RESULT FROM THE INSTALLA-
TION  OF  THE  MEASURES  PROVIDED  FURTHER  THAT NOTHING HEREIN SHALL BE
CONSTRUED TO PROHIBIT OR PREVENT CUSTOMERS WHOSE PRIMARY HEATING  ENERGY
SOURCE IS FROM DELIVERABLE FUELS FROM PARTICIPATING IN THE PROGRAM; AND
  (VI) ESTABLISH REQUIREMENTS FOR ONGOING DISCLOSURE TO THE AUTHORITY OF
(A)  SELECTED  DATA  CONCERNING  THE ENERGY, ENVIRONMENTAL AND FINANCIAL
OUTCOMES  OF  QUALIFIED  ENERGY  PROJECTS  IMPLEMENTED  WITH   FINANCING
PROVIDED THROUGH THE COMMERCIAL OBR PROGRAM AND (B) ALL INFORMATION THAT
THE  AUTHORITY  SHALL BE REQUIRED TO INCLUDE IN ITS ANNUAL REPORT TO THE
GOVERNOR, THE TEMPORARY PRESIDENT OF THE  SENATE,  THE  SPEAKER  OF  THE

S. 3941--A                          5

ASSEMBLY,  THE  MINORITY LEADER OF THE SENATE AND THE MINORITY LEADER OF
THE ASSEMBLY  CONCERNING  THE  AUTHORITY'S  ACTIVITIES  RELATED  TO  THE
COMMERCIAL  ON-BILL  REPAYMENT  PROGRAM AS SET FORTH IN SECTION NINETEEN
HUNDRED SEVEN OF THIS TITLE; AND
  (VII)  EXERCISE  SUCH  OTHER POWERS AS ARE NECESSARY OR CONVENIENT FOR
THE PROPER ADMINISTRATION OF THE PROGRAM, INCLUDING, AT  THE  DISCRETION
OF THE AUTHORITY, ENTERING INTO AGREEMENTS WITH APPLICANTS AND WITH SUCH
STATE  OR  FEDERAL AGENCIES AS NECESSARY TO DIRECTLY RECEIVE REBATES AND
GRANTS AVAILABLE FOR ELIGIBLE PROJECTS AND APPLY SUCH FUNDS TO REPAYMENT
OF APPLICANT OBR OBLIGATIONS.
  2. (A) APPLICANTS SEEKING TO PARTICIPATE IN THE COMMERCIAL OBR PROGRAM
SHALL ARRANGE TO OBTAIN, FROM  OBR  PARTNERS,  FINANCING  FOR  QUALIFIED
CLEAN  ENERGY  IMPROVEMENTS.  EACH  OBR  PARTNER SHALL ESTABLISH ITS OWN
CREDIT STANDARDS FOR SUCH FINANCING; AND THE AUTHORITY SHALL ESTABLISH A
PROCESS FOR RECEIPT AND RESOLUTION  OF  CUSTOMER  COMPLAINTS  CONCERNING
ON-BILL  REPAYMENT  CHARGES  ARISING  FROM  OBR  OBLIGATIONS RELATING TO
ELIGIBLE STRUCTURES OTHER THAN COMMERCIAL STRUCTURES AND FOR  ADDRESSING
DELAYS  AND DEFAULTS IN CUSTOMER PAYMENTS WITH RESPECT TO SUCH OBR OBLI-
GATIONS.
  (B) PRIOR TO THE APPROVAL BY  THE  AUTHORITY  OF  EACH  OBR  AGREEMENT
ENTERED  INTO  BY AN APPLICANT PURSUANT TO THIS SECTION, THE OBR PARTNER
SHALL CAUSE TO BE PROVIDED TO EACH APPLICANT PROPOSING TO INCUR SUCH OBR
OBLIGATION A NOTICE STATING, IN CLEAR AND CONSPICUOUS TERMS:
  (I) THE FINANCIAL AND LEGAL OBLIGATIONS AND RISKS OF PUTTING IN  PLACE
THE  OBR  OBLIGATION,  INCLUDING THE OBLIGATION TO PROVIDE OR CONSENT TO
THE CUSTOMER'S UTILITY PROVIDING THE AUTHORITY INFORMATION ON THE SOURC-
ES AND QUANTITIES OF ENERGY USED IN  THE  CUSTOMER'S  PREMISES  AND  ANY
IMPROVEMENTS  OR  MODIFICATIONS  TO THE PREMISES, USE OF THE PREMISES OR
ENERGY CONSUMING APPLIANCES OR EQUIPMENT OF ANY TYPE  THAT  MAY  SIGNIF-
ICANTLY AFFECT ENERGY USAGE;
  (II)  THAT THE ON-BILL REPAYMENT CHARGE WILL BE BILLED BY SUCH CUSTOM-
ER'S UTILITY COMPANY AND THAT FAILURE  TO  PAY  SUCH  ON-BILL  REPAYMENT
CHARGE  MAY  RESULT IN THE CUSTOMER HAVING HIS OR HER ELECTRICITY AND/OR
GAS SERVICE TERMINATED FOR NON-PAYMENT;
  (III) THAT PERFORMANCE OF THE QUALIFIED CLEAN ENERGY IMPROVEMENTS  MAY
NOT  RESULT IN LOWER MONTHLY ENERGY COSTS OVER TIME, BASED ON ADDITIONAL
FACTORS THAT CONTRIBUTE TO MONTHLY ENERGY COSTS; AND
  (IV) (1) IN THE CASE OF OBR OBLIGATIONS RELATING TO ELIGIBLE  PROJECTS
PERFORMED  ON ELIGIBLE STRUCTURES OTHER THAN COMMERCIAL STRUCTURES, THAT
IT IS THE SOLE  RESPONSIBILITY  OF  THE  AUTHORITY  TO  HANDLE  CONSUMER
INQUIRIES AND COMPLAINTS RELATED TO THE OPERATION AND LENDING ASSOCIATED
WITH  THE  PROGRAM,  PROVIDED FURTHER THAT THE AUTHORITY SHALL PROVIDE A
MECHANISM TO RECEIVE SUCH CONSUMER INQUIRIES AND COMPLAINTS.
  (2) IN THE CASE OF  OBR  OBLIGATIONS  RELATING  TO  ELIGIBLE  PROJECTS
PERFORMED  ON  COMMERCIAL  STRUCTURES,  THAT ALL DISPUTES RELATED TO THE
OPERATION AND FINANCING ASSOCIATED WITH THE PROGRAM SHALL BE SUBJECT  TO
ARBITRATION, AS PROVIDED IN THE OBR MASTER AGREEMENT.
  3.  THE AUTHORITY SHALL MAKE AVAILABLE TO THE PUBLIC, ON AN ANONYMIZED
BASIS, SELECTED DATA CONCERNING THE ENERGY, ENVIRONMENTAL AND  FINANCIAL
OUTCOMES   OF  QUALIFIED  ENERGY  PROJECTS  IMPLEMENTED  WITH  FINANCING
PROVIDED THROUGH THE COMMERCIAL OBR PROGRAM.
  4. (A) FOR EACH OBR OBLIGATION THAT IS APPROVED BY THE AUTHORITY,  THE
NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY SHALL RECORD OR
CAUSE TO BE RECORDED, PURSUANT TO ARTICLE NINE OF THE REAL PROPERTY LAW,
IN  THE  OFFICE OF THE APPROPRIATE RECORDING OFFICER, A DECLARATION WITH
RESPECT TO THE PROPERTY IMPROVED BY SUCH SERVICES OF  THE  EXISTENCE  OF

S. 3941--A                          6

THE  OBR  OBLIGATION AND STATING THE TOTAL AMOUNT OF THE OBR OBLIGATION,
THE TERM OF THE OBR OBLIGATION, AND THAT THE  OBR  OBLIGATION  IS  BEING
REPAID  THROUGH A CHARGE ON AN ELECTRIC OR GAS METER ASSOCIATED WITH THE
PROPERTY.  THE  DECLARATION  SHALL  FURTHER STATE THAT IT IS BEING FILED
PURSUANT TO THIS SECTION AND, UNLESS FULLY SATISFIED PRIOR  TO  SALE  OR
TRANSFER  OF  THE  PROPERTY, THE OBR OBLIGATION SHALL SURVIVE CHANGES IN
OWNERSHIP, TENANCY, OR METER ACCOUNT  RESPONSIBILITY  AND,  UNTIL  FULLY
SATISFIED, SHALL CONSTITUTE THE OBLIGATION OF THE PERSON RESPONSIBLE FOR
THE  METER ACCOUNT. SUCH DECLARATION SHALL NOT CONSTITUTE A MORTGAGE AND
SHALL NOT CREATE ANY SECURITY INTEREST OR LIEN  ON  THE  PROPERTY.  UPON
SATISFACTION  OF THE OBR OBLIGATION, THE AUTHORITY SHALL FILE A DECLARA-
TION OF REPAYMENT PURSUANT TO ARTICLE NINE OF THE REAL PROPERTY LAW.
  (B) THE RECORDING OFFICER SHALL RECORD SUCH DECLARATIONS IN  THE  SAME
BOOK,  PROVIDED UNDER SECTION THREE HUNDRED FIFTEEN OF THE REAL PROPERTY
LAW, IN WHICH SUCH RECORDING OFFICER RECORDS DEEDS.
  S 1905. ADVISORY COUNCIL. 1. THE AUTHORITY SHALL ESTABLISH  A  COMMER-
CIAL  ON-BILL  REPAYMENT ADVISORY COUNCIL TO ADVISE THE AUTHORITY ON THE
CREATION AND IMPLEMENTATION OF THE PROGRAM. THE  COUNCIL  SHALL  CONSIST
OF:
  (A)  THE PRESIDENT OF THE AUTHORITY; THE SECRETARY OF STATE; THE CHAIR
OF THE DEPARTMENT OF PUBLIC SERVICE; THE PRESIDENT OF THE POWER AUTHORI-
TY OF THE STATE OF NEW YORK; THE PRESIDENT  OF  THE  LONG  ISLAND  POWER
AUTHORITY; THE COMMISSIONER OF ECONOMIC DEVELOPMENT; THE COMMISSIONER OF
ENVIRONMENTAL CONSERVATION; OR THE DESIGNEES OF SUCH PERSONS; AND
  (B)   UNIONS,   INCLUDING   BUILDING  TRADES  AND  PROPERTY  SERVICES;
LARGE-SCALE CONSTRUCTION CONTRACTORS; INVESTMENT MARKET EXPERTS;  FINAN-
CIAL  MARKET  EXPERTS; ENVIRONMENTAL NON-GOVERNMENTAL ORGANIZATIONS; AND
REAL ESTATE EXPERTS.
  2. THE PRESIDENT OF THE AUTHORITY SHALL SERVE  AS  THE  CHAIR  OF  THE
COUNCIL.
  S  1906.  ANNUAL REPORTING. 1.  NO LATER THAN OCTOBER FIRST, TWO THOU-
SAND SEVENTEEN AND OCTOBER FIRST OF EACH YEAR THEREAFTER, THE  PRESIDENT
OF  THE  AUTHORITY  SHALL  ISSUE  AN  ANNUAL REPORT TO THE GOVERNOR, THE
TEMPORARY PRESIDENT OF THE SENATE, THE  SPEAKER  OF  THE  ASSEMBLY,  THE
MINORITY  LEADER  OF  THE SENATE AND THE MINORITY LEADER OF THE ASSEMBLY
CONCERNING THE AUTHORITY'S ACTIVITIES RELATED TO THE COMMERCIAL  ON-BILL
REPAYMENT  PROGRAM  CREATED  PURSUANT  TO  THIS TITLE. SUCH REPORT SHALL
INCLUDE, BUT NOT BE LIMITED TO THE FOLLOWING INFORMATION:
  2. THE STATUS OF THE AUTHORITY'S ACTIVITIES AND  OUTCOMES  RELATED  TO
SECTION  NINETEEN HUNDRED FOUR OF THIS TITLE. SUCH REPORT SHALL INCLUDE,
BUT NOT BE LIMITED TO:
  (A) THE NUMBER OF PERSONS WHO HAVE APPLIED FOR OBR OBLIGATIONS  TO  BE
ESTABLISHED THROUGH THE PROGRAM;
  (B) THE NUMBER OF OBR OBLIGATIONS IN DEFAULT;
  (C)  THE  AMOUNT AND NATURE OF THE COSTS INCURRED BY THE AUTHORITY FOR
THE ACTIVITIES DESCRIBED IN PARAGRAPH (B) OF SUBDIVISION ONE OF  SECTION
NINETEEN HUNDRED FOUR OF THIS TITLE;
  (D)  THE  AUTHORITY'S ACTIVITIES  AND OUTCOMES RELATED TO ESTABLISHING
THE COMMERCIAL ON-BILL REPAYMENT  MECHANISM,  INCLUDING  THE  NUMBER  OF
PERSONS  WHO  HAVE  APPLIED THE OPPORTUNITY TO UTILIZE ON-BILL REPAYMENT
AND THE RESULTS OF THE EVALUATION PROGRAM PERFORMED PURSUANT TO SUBDIVI-
SION THREE OF SECTION NINETEEN HUNDRED FOUR OF THIS TITLE;
  (E) THE AMOUNT EXPENDED BY THE AUTHORITY IN SUPPORT OF THE PROGRAM AND
THE PURPOSES FOR WHICH SUCH FUNDS HAVE BEEN EXPENDED;

S. 3941--A                          7

  (F) THE NUMBER OF CUSTOMERS  PARTICIPATING  IN  THE  PROGRAM  AND  THE
AMOUNTS  FINANCED  PURSUANT  TO OBR AGREEMENTS WITH RESPECT TO WHICH OBR
OBLIGATIONS HAVE BEEN ESTABLISHED;
  (G)  THE  NUMBER  OF  PROGRAM PARTICIPANTS WHO ARE IN ARREARS IN THEIR
UTILITY ACCOUNTS FOR ELECTRIC AND/OR GAS SERVICE;
  (H) THE NUMBER OF PROGRAM PARTICIPANTS WHO ARE  IN  ARREARS  IN  THEIR
ON-BILL REPAYMENT CHARGE PAYMENTS;
  (I)  THE NUMBER OF PROGRAM PARTICIPANTS WHOSE UTILITY SERVICE HAS BEEN
TERMINATED FOR NON-PAYMENT;
  (J) A DESCRIPTION OF THE GEOGRAPHIC DISTRIBUTION  OF  OBR  OBLIGATIONS
MADE;
  (K) AN ESTIMATE OF THE ENERGY SAVINGS RESULTING FROM THIS PROGRAM; AND
  (L) AN ESTIMATE OF THE AVERAGE PROJECT COST.
  S  1907.  FUNDS,  ADMINISTRATION  AND EVALUATION AND COORDINATION. THE
AUTHORITY IS AUTHORIZED TO ACCEPT, AS AGENT  OF  THE  STATE,  ANY  GIFT,
GRANT,  DEVISE OR BEQUEST, WHETHER CONDITIONAL OR UNCONDITIONAL, INCLUD-
ING BUT NOT LIMITED TO FEDERAL GRANTS, AND TO USE MONIES MADE  AVAILABLE
FOR  THE  PROGRAM  FROM ANY PUBLIC OR PRIVATE SOURCE, FOR THE PURPOSE OF
ADMINISTERING AND EVALUATING THE EFFECTIVENESS OF THE PROGRAM.
  S 3. Subdivision 4 of section 1855 of the public authorities  law,  as
amended  by  chapter  487  of  the  laws  of 2009, is amended to read as
follows:
  4. To make rules and regulations governing the exercise of its  corpo-
rate  powers  and  the  fulfillment of its corporate purposes under this
title [and title] AND TITLES nine-A AND NINE-B of  this  article,  which
shall  be  filed  with the department of state in the manner provided by
section one hundred two of the executive law.
  S 4. Paragraph (h) of subdivision 2 of  section  18-a  of  the  public
service  law,  as  amended  by section 2 of part A of chapter 173 of the
laws of 2013, is amended to read as follows:
  (h) On-bill recovery charges billed pursuant to section sixty-six-m of
this chapter AND ON-BILL REPAYMENT CHARGES BILLED  PURSUANT  TO  SECTION
SIXTY-SIX-O  OF THIS CHAPTER shall be excluded from any determination of
an entity's gross operating revenues  derived  from  intrastate  utility
operations for purposes of this section.
  S  5.  Paragraph  (d)  of  subdivision  6  of section 65 of the public
service law, as amended by chapter 388 of the laws of 2011,  is  amended
to read as follows:
  (d)  for  installation of capital improvements and fixtures to promote
energy efficiency upon the request and consent of the customer,  includ-
ing but not limited (I) to the performance of qualified energy efficien-
cy  services  for  customers  participating in green jobs-green New York
on-bill recovery pursuant to section sixty-six-m  of  this  article;  OR
(II)  THE  PERFORMANCE OF QUALIFIED ENERGY CLEAN ENERGY IMPROVEMENTS FOR
CUSTOMERS PARTICIPATING IN  THE  COMMERCIAL  ON-BILL  REPAYMENT  PROGRAM
PURSUANT TO SECTION SIXTY-SIX-O OF THIS ARTICLE.
  S 6. The public service law is amended by adding a new section 66-o to
read as follows:
  S  66-O.  COMMERCIAL  ON-BILL REPAYMENT PROGRAM. 1. (A) THE COMMISSION
SHALL, WITHIN FORTY-FIVE DAYS OF THE EFFECTIVE  DATE  OF  THIS  SECTION,
COMMENCE A PROCEEDING TO INVESTIGATE THE IMPLEMENTATION BY EACH COMBINA-
TION  ELECTRIC  AND  GAS CORPORATION HAVING ANNUAL REVENUES IN EXCESS OF
TWO HUNDRED MILLION DOLLARS OF A  BILLING  AND  COLLECTION  SERVICE  FOR
ON-BILL  REPAYMENT  CHARGES  IN  PAYMENT OF OBLIGATIONS OF ITS CUSTOMERS
PURSUANT TO THE COMMERCIAL ON-BILL REPAYMENT PROGRAM ESTABLISHED  PURSU-
ANT  TO TITLE NINE-B OF ARTICLE EIGHT OF THE PUBLIC AUTHORITIES LAW AND,

S. 3941--A                          8

WITHIN ONE HUNDRED FIFTY DAYS OF THE EFFECTIVE DATE OF THIS SECTION, THE
COMMISSION SHALL MAKE  A  DETERMINATION  ESTABLISHING  THE  BILLING  AND
COLLECTION PROCEDURES FOR SUCH ON-BILL REPAYMENT CHARGES. THE DEPARTMENT
SHALL  CONSULT  WITH  THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT
AUTHORITY IN THE PREPARATION OF ITS RECOMMENDATIONS  TO  THE  COMMISSION
FOR  SUCH  DETERMINATION. THE COMMISSION SHALL REQUIRE SUCH ELECTRIC AND
GAS CORPORATIONS TO OFFER BILLING AND COLLECTION SERVICES FOR COMMERCIAL
ON-BILL REPAYMENT CHARGES FOR ELIGIBLE CUSTOMERS  WITHIN  THREE  HUNDRED
DAYS  OF  THE EFFECTIVE DATE OF THIS SECTION. TO THE EXTENT PRACTICABLE,
SUCH ELECTRIC AND GAS CORPORATIONS  SHALL  UTILIZE  EXISTING  ELECTRONIC
DATA INTERCHANGE INFRASTRUCTURE OR OTHER EXISTING BILLING INFRASTRUCTURE
TO  IMPLEMENT  THEIR  BILLING AND COLLECTION RESPONSIBILITIES UNDER THIS
SECTION.
  (B) THE COMMISSION MAY SUSPEND SUCH AN ELECTRIC AND GAS  CORPORATION'S
PARTICIPATION  IN THE COMMERCIAL ON-BILL REPAYMENT PROGRAM PROVIDED THAT
THE COMMISSION, AFTER CONDUCTING A HEARING AS PROVIDED IN SECTION TWENTY
OF THIS CHAPTER, MAKES A FINDING THAT THERE IS A SIGNIFICANT INCREASE IN
ARREARS OR UTILITY SERVICE DISCONNECTIONS THAT THE COMMISSION DETERMINES
IS DIRECTLY RELATED TO ON-BILL REPAYMENT CHARGES, OR A FINDING OF  OTHER
GOOD CAUSE. ANY SUSPENSION PURSUANT TO THIS SUBDIVISION SHALL NOT AFFECT
SUCH  ELECTRIC  AND  GAS  CORPORATION'S  OBLIGATIONS WITH RESPECT TO ANY
EXISTING OBR OBLIGATIONS OUTSTANDING AT THE  TIME  OF  SUCH  SUSPENSION,
INCLUDING  THE  CONTINUED  COLLECTION  OF  ALL ON-BILL REPAYMENT CHARGES
RELATED THERETO.
  (C) THE ON-BILL REPAYMENT CHARGE SHALL BE COLLECTED ON THE  BILL  FROM
THE  CUSTOMER'S  ELECTRIC  CORPORATION UNLESS THE QUALIFIED CLEAN ENERGY
IMPROVEMENTS AT THAT CUSTOMER'S PREMISES RESULT IN MORE PROJECTED ENERGY
SAVINGS ON THE CUSTOMER'S GAS BILL THAN THE ELECTRIC BILL, IN WHICH CASE
SUCH CHARGE SHALL BE COLLECTED ON THE CUSTOMER'S GAS CORPORATION BILL.
  2. SCHEDULES FOR THE  COLLECTION  AND  BILLING  OF  ON-BILL  REPAYMENT
CHARGES SHALL PROVIDE:
  (A)  THAT  BILLING  AND  COLLECTION SERVICES SHALL BE AVAILABLE TO ALL
CUSTOMERS WHO HAVE MET THE STANDARDS ESTABLISHED BY THE NEW  YORK  STATE
ENERGY  RESEARCH  AND  DEVELOPMENT  AUTHORITY  FOR  PARTICIPATION IN THE
COMMERCIAL ON-BILL REPAYMENT PROGRAM AND HAVE EXECUTED AN OBR  AGREEMENT
FOR  THE  PERFORMANCE  OF QUALIFIED CLEAN ENERGY IMPROVEMENTS UNDER SUCH
PROGRAM AND HAVE ESTABLISHED AN OBR OBLIGATION PURSUANT TO SECTION NINE-
TEEN HUNDRED FOUR OF THE PUBLIC AUTHORITIES LAW;
  (B) THAT THE RESPONSIBILITIES OF SUCH ELECTRIC AND GAS CORPORATION ARE
LIMITED TO PROVIDING BILLING AND COLLECTION SERVICES FOR ON-BILL  REPAY-
MENT CHARGES AS DIRECTED BY THE AUTHORITY;
  (C)  UNLESS  FULLY  SATISFIED  PRIOR TO SALE OR TRANSFER, THAT (I) THE
ON-BILL REPAYMENT CHARGES FOR ANY SERVICES PROVIDED  AT  THE  CUSTOMER'S
PREMISES  SHALL  SURVIVE  CHANGES IN OWNERSHIP, TENANCY OR METER ACCOUNT
RESPONSIBILITY, AND (II) THAT ARREARS IN ON-BILL  REPAYMENT  CHARGES  AT
THE TIME OF ACCOUNT CLOSURE OR METER TRANSFER SHALL REMAIN THE RESPONSI-
BILITY  OF  THE INCURRING CUSTOMER, UNLESS EXPRESSLY ASSUMED BY A SUBSE-
QUENT PURCHASER OF THE PROPERTY SUBJECT TO SUCH CHARGES;
  (D) WITH RESPECT TO A CUSTOMER ACCOUNT WITH AN ELECTRIC AND GAS CORPO-
RATION THAT HAS BEEN CLOSED AND IN WHICH ARREARAGES EXIST, INCLUDING  AN
ARREARAGE  WITH  RESPECT  TO AN ON-BILL REPAYMENT CHARGE, THE COMMISSION
MAY ADOPT RULES PROVIDING THAT AFTER A PERIOD OF TIME TO  BE  DETERMINED
BY  THE COMMISSION, THE SHARE OF TOTAL ARREARAGE THAT IS ATTRIBUTABLE TO
THE ON-BILL REPAYMENT CHARGE MAY BE DEEMED, AS OF A DATE CERTAIN, TO  BE
AN  OBLIGATION  OWED DIRECTLY TO THE OBR PARTNER AND NOT TO THE ELECTRIC
AND GAS CORPORATION;

S. 3941--A                          9

  (E) WITH RESPECT TO A CUSTOMER REMITTING LESS THAN  THE  TOTAL  AMOUNT
DUE  FOR ELECTRIC AND/OR GAS SERVICES AND ON-BILL REPAYMENT CHARGES, THE
AUTHORITY MAY REQUIRE THAT PAYMENTS BE ALLOCATED TO THE UTILITY AND  THE
OBR  PARTNER  IN  ACCORDANCE  WITH  A  WATERFALL,  SUCH  WATERFALL TO BE
DESIGNED  WITH  AN OBJECTIVE OF NOT INCREASING UTILITY BAD DEBT EXPENSE,
WITH PRIORITY IN THE  WATERFALL  BEING  GIVEN  TO  PAST-DUE  AMOUNTS  IN
ACCORDANCE  WITH  THE  BILLING PERIOD DURING WHICH ANY SUCH AMOUNTS WERE
ACCRUED, WITH NO ALLOCATIONS OF ARREARAGES OR CURRENT CHARGES BEING MADE
TO EITHER THE UTILITY OR THE OBR PARTNER WHILE ARREARAGES OF EITHER TYPE
FROM ANY EARLIER BILLING PERIOD REMAIN OUTSTANDING, AND, WITH RESPECT TO
CHARGES THAT ACCRUED DURING THE SAME BILLING PERIOD, ALLOCATIONS TO  THE
UTILITY  IN RESPECT OF ANY NON-OBR CHARGES IN ALL CASES BEING MADE AHEAD
OF ALLOCATIONS TO THE OBR PARTNER FOR ANY OBR CHARGES;
  (F) BILLING AND COLLECTION SERVICES SHALL BE AVAILABLE WITHOUT  REGARD
TO WHETHER THE ENERGY OR FUEL DELIVERED BY THE UTILITY IS THE CUSTOMER'S
PRIMARY ENERGY SOURCE;
  (G) UNLESS OTHERWISE PRECLUDED BY LAW, PARTICIPATION IN THE COMMERCIAL
ON-BILL  REPAYMENT PROGRAM SHALL NOT AFFECT A CUSTOMER'S ELIGIBILITY FOR
ANY REBATE OR INCENTIVE OFFERED BY A UTILITY OR THE NEW YORK STATE ENER-
GY RESEARCH AND DEVELOPMENT AUTHORITY; AND
  (H) ANY OTHER PROVISIONS NECESSARY TO  PROVIDE  FOR  THE  BILLING  AND
COLLECTION OF ON-BILL REPAYMENT CHARGES.
  S  7.  Sections 1020-ii, 1020-jj and 1020-kk of the public authorities
law, as renumbered by chapter 388 of the laws of  2011,  are  renumbered
sections 1020-jj, 1020-kk and 1020-ll and a new section 1020-ii is added
to read as follows:
  S  1020-II. COMMERCIAL ON-BILL REPAYMENT. 1. WITHIN THREE HUNDRED DAYS
OF THE  EFFECTIVE DATE OF THIS SECTION, THE AUTHORITY SHALL ESTABLISH  A
PROGRAM  TO  PROVIDE FOR THE BILLING AND COLLECTION OF ON-BILL REPAYMENT
CHARGES FOR PAYMENT OF OBLIGATIONS OF ITS CUSTOMERS  TO  THE  COMMERCIAL
ON-BILL  REPAYMENT PROGRAM ESTABLISHED PURSUANT TO TITLE NINE-B OF ARTI-
CLE EIGHT OF THIS CHAPTER. SUCH PROGRAM SHALL  BE  CONSISTENT  WITH  THE
STANDARDS  SET  FORTH  IN SECTION SIXTY-SIX-O OF THE PUBLIC SERVICE LAW.
BILLING AND COLLECTION SERVICES UNDER SUCH  TARIFFS  SHALL  COMMENCE  AS
SOON AS PRACTICABLE AFTER ESTABLISHMENT OF THE PROGRAM.
  2.  THE  AUTHORITY  MAY  SUSPEND ITS OFFERING OF THE ON-BILL REPAYMENT
CHARGE PROVIDED THAT THE AUTHORITY MAKES  A  FINDING  THAT  THERE  IS  A
SIGNIFICANT  INCREASE  IN ARREARS OR UTILITY SERVICE DISCONNECTIONS THAT
THE AUTHORITY DETERMINES IS DIRECTLY RELATED TO SUCH CHARGE, OR A  FIND-
ING OF OTHER GOOD CAUSE.
  S  8.  Section 242 of the real property law is amended by adding a new
subdivision 5 to read as follows:
  5. DISCLOSURE PRIOR TO THE SALE OF REAL PROPERTY TO WHICH A COMMERCIAL
ON-BILL REPAYMENT CHARGE APPLIES. (A) ANY PERSON, FIRM,  COMPANY,  PART-
NERSHIP  OR  CORPORATION OFFERING TO SELL REAL PROPERTY WHICH IS SUBJECT
TO A COMMERCIAL ON-BILL REPAYMENT CHARGE PURSUANT  TO  TITLE  NINE-B  OF
ARTICLE EIGHT OF THE PUBLIC AUTHORITIES LAW SHALL PROVIDE WRITTEN NOTICE
TO THE PROSPECTIVE PURCHASER OR THE PROSPECTIVE PURCHASER'S AGENT, STAT-
ING AS FOLLOWS: "THIS PROPERTY IS SUBJECT TO A COMMERCIAL ON-BILL REPAY-
MENT  CHARGE". SUCH NOTICE SHALL ALSO INCLUDE, AS AN ATTACHMENT, THE OBR
AGREEMENT GOVERNING THE COMMERCIAL ON-BILL REPAYMENT OBLIGATION, INCLUD-
ING ANY  MODIFICATIONS  THERETO,  A  DESCRIPTION  OF  THE  CLEAN  ENERGY
IMPROVEMENTS  PERFORMED,  INCLUDING IMPROVEMENTS TO THE PROPERTY, AND AN
EXPLANATION OF THE BENEFIT OF THE COMMERCIAL ON-BILL REPAYMENT QUALIFIED
CLEAN ENERGY SERVICES. SUCH NOTICE SHALL BE PROVIDED BY THE SELLER PRIOR
TO ACCEPTING A PURCHASE OFFER.

S. 3941--A                         10

  (B) ANY PROSPECTIVE OR ACTUAL PURCHASER WHO HAS SUFFERED A LOSS DUE TO
A VIOLATION OF THIS  SUBDIVISION  IS  ENTITLED  TO  RECOVER  ANY  ACTUAL
DAMAGES  INCURRED  FROM THE PERSON OFFERING TO SELL OR SELLING SAID REAL
PROPERTY.
  S  9. Section 291-j of the real property law, as added by section 2 of
part DD of chapter 58 of the  laws  of  2012,  is  amended  to  read  as
follows:
  S  291-j.  Recording  of  declarations  by  the  New York state energy
research and development authority. 1. Pursuant to subdivision  five  of
section  eighteen  hundred ninety-six of the public authorities law, the
New York state energy research and development authority shall record or
cause to be recorded, in the office of the appropriate  recording  offi-
cer, a declaration evidencing the existence of a loan as described ther-
ein  and,  upon  satisfaction  of such loan, such authority shall file a
declaration of repayment and full satisfaction  of  the  loan  repayment
utility  meter  charge. The recording officer shall record such declara-
tions in the same book, provided under section three hundred fifteen  of
[the  real  property  law] THIS ARTICLE, in which such recording officer
records deeds.
  2. PURSUANT TO SUBDIVISION FOUR OF SECTION NINETEEN  HUNDRED  FOUR  OF
THE  PUBLIC  AUTHORITIES  LAW,  THE  NEW  YORK STATE ENERGY RESEARCH AND
DEVELOPMENT AUTHORITY SHALL RECORD OR  CAUSE  TO  BE  RECORDED,  IN  THE
OFFICE  OF  THE  APPROPRIATE RECORDING OFFICER, A DECLARATION EVIDENCING
THE EXISTENCE OF AN OBR OBLIGATION AS DESCRIBED THEREIN AND, UPON SATIS-
FACTION OF SUCH OBR OBLIGATION, SUCH AUTHORITY SHALL FILE A  DECLARATION
OF REPAYMENT AND FULL SATISFACTION OF THE OBR OBLIGATION.  THE RECORDING
OFFICER  SHALL  RECORD SUCH DECLARATION IN THE SAME BOOK, PROVIDED UNDER
SECTION THREE HUNDRED FIFTEEN OF THIS ARTICLE, IN WHICH  SUCH  RECORDING
OFFICER RECORDS DEEDS.
  S 10. This act shall take effect immediately.