NY State Senate Bill 2017-S1924

Archive: Last Bill Status - In Senate Committee Finance Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to finance
Jan 11, 2017	referred to finance

co-Sponsors

2017-S1924 (ACTIVE) - Details

Current Committee:: Senate Finance
Law Section:: State Finance Law
Laws Affected:: Add §97-u, St Fin L
Versions Introduced in 2015-2016 Legislative Session:: S5199

2017-S1924 (ACTIVE) - Summary

Relates to a New York state three phase power revolving loan program.

2017-S1924 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S1924

 TITLE OF BILL :  An act to amend the state finance law, in relation
to a New York state three phase power revolving loan program

 PURPOSE :

This bill establishes a revolving loan program to provide farmers
throughout New York State with low interest loans so that they can
upgrade their electricity to three phase power.

 SUMMARY OF PROVISIONS :

Section 1 adds a new section 97-u to the State Finance Law. 97-u
establishing the New York State Three Phase Power Revolving Loan
Program. The program will be carried out by the New York State Energy
Research and Development Authority (NYSERDA) for the purpose of
providing farmers with low interest loans to upgrade their electricity
to three phase power.

This section also authorizes NYSERDA to promulgate the rules and
regulations for the purpose of carrying out the provision of this act,
including, an application process, standards for determining farmers'
eligibility for a loam, standards for determining the priority of the
three phase power project, standards for determining the amount of
financial assistance to be provided to the farmer, and repayment

periods and agreements.

Section 2 provides the effective date.

 JUSTIFICATION :

As technology continues to change and advance, so too does the need
for steady and reliable electricity to support the changes and
advances in technology. The farm is no exception. New and modern farm
equipment requires steady and reliable electricity. The current form
of electricity, single phase power, is no longer strong enough or
reliable enough to support new and modern farm equipment.  To remain
competitive and be able to grow, farms are being faced with the need
to upgrade the type of electricity that comes into their farm to three
phase power. Three phase power provides three alternating currents
that reach their instantaneous peak value at one third of a cycle from
each other.

Upgrading to three phase power, however, is extremely expensive. It
requires the installation of new lines and equipment that bring the
three phase power from its current closest location to the farm.
Farmers need financial assistance to help cover the cost of this
necessary upgrade. This bill creates the New York State Three Phase
Power Revolving Loan Program. This will provide farmers throughout New
York State with low interest loans to help cover the cost of bringing
three phase power to their farm.

 LEGISLATIVE HISTORY :

2015-2016: S.5199.

 FISCAL IMPLICATIONS :

To be determined.

 EFFECTIVE DATE :
This act shall take effect on the ninetieth day after it shall have
become a law. Effective immediately, any rules and regulations
necessary to implement the provisions of this act on its effective
date are authorized to be promulgated on or before such date.

2017-S1924 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1924
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 11, 2017
                                ___________
 
 Introduced  by  Sens.  RITCHIE,  GALLIVAN,  MARCHIONE  -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Finance
 
 AN  ACT  to amend the state finance law, in relation to a New York state
   three phase power revolving loan program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  state finance law is amended by adding a new section
 97-u to read as follows:
   § 97-U. NEW YORK STATE THREE PHASE POWER REVOLVING LOAN PROGRAM.    1.
 THERE  IS HEREBY ESTABLISHED IN THE JOINT CUSTODY OF THE COMMISSIONER OF
 TAXATION AND FINANCE AND THE COMPTROLLER, A SPECIAL FUND TO BE KNOWN  AS
 THE "NEW YORK STATE THREE PHASE POWER REVOLVING LOAN FUND".
   2.  THE  PROGRAM  SHALL  CONSIST  OF  ALL  MONEYS APPROPRIATED FOR ITS
 PURPOSE, ALL MONEYS TRANSFERRED TO SUCH ACCOUNT PURSUANT TO LAW, AND ALL
 MONEYS REQUIRED BY THIS SECTION OR ANY OTHER LAW  TO  BE  PAID  INTO  OR
 CREDITED  TO  THIS ACCOUNT, INCLUDING ALL MONEYS RECEIVED BY THE ACCOUNT
 OR DONATED TO IT, PAYMENTS OF PRINCIPAL AND INTEREST ON LOANS MADE  FROM
 THE ACCOUNT, AND ANY INTEREST EARNINGS WHICH MAY ACCRUE FROM THE INVEST-
 MENT  OR  REINVESTMENT  OF  MONEYS FROM THE ACCOUNT. THE TOTAL OF MONIES
 DEPOSITED AS A RESULT OF APPROPRIATION FROM STATE FUNDS INTO  THIS  FUND
 SHALL  NOT  EXCEED  THE  SUM OF FIVE MILLION DOLLARS. MONIES IN THE FUND
 SHALL BE KEPT SEPARATE AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONIES
 OTHERWISE APPROPRIATED OR RECEIVED.
   3. MONEYS OF THE FUND, WHEN ALLOCATED, SHALL BE AVAILABLE TO  THE  NEW
 YORK  STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY FOR THE PURPOSE OF
 PROVIDING FARMERS WITH LOW INTEREST LOANS TO UPGRADE  THEIR  ELECTRICITY
 TO  THREE PHASE POWER. THE DURATION OF SUCH LOW INTEREST LOANS SHALL NOT
 EXCEED THIRTY YEARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07615-01-7

 S. 1924                             2
 
   4. THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY  SHALL
 PROMULGATE  RULES  AND  REGULATIONS  FOR THE PURPOSE OF CARRYING OUT THE
 PROVISIONS OF THIS SECTION, INCLUDING ESTABLISHING:
   (A) AN APPLICATION PROCESS WHEREBY FARMERS MAY APPLY FOR LOANS;
   (B)  CRITERIA AND STANDARDS FOR DETERMINING A FARMER'S ELIGIBILITY FOR
 A LOAN;
   (C) CRITERIA AND STANDARDS FOR DETERMINING THE PRIORITY TO BE  GRANTED
 AMONG THE THREE PHASE POWER PROJECTS;
   (D)  CRITERIA  AND  STANDARDS  FOR DETERMINING THE AMOUNT OF FINANCIAL
 ASSISTANCE TO BE PROVIDED TO A FARMER FOR A THREE PHASE  POWER  PROJECT;
 AND
   (E)  CRITERIA  AND STANDARDS TO BE USED IN DETERMINING THE LOAN REPAY-
 MENT PERIODS AND THE TERMS OF ANY REPAYMENT AGREEMENTS.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have  become  a  law.  Effective  immediately, any rules and regulations
 necessary to implement the provisions of this act on its effective  date
 are authorized to be promulgated on or before such date.

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Senate Bill S1924

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

co-Sponsors

2017-S1924 (ACTIVE) - Details

2017-S1924 (ACTIVE) - Summary

2017-S1924 (ACTIVE) - Sponsor Memo

2017-S1924 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S1924

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Sponsored By

Patty Ritchie

Archive: Last Bill Status - In Senate Committee Finance Committee

co-Sponsors

Patrick M. Gallivan

Kathleen A. Marchione

2017-S1924 (ACTIVE) - Details

2017-S1924 (ACTIVE) - Summary

2017-S1924 (ACTIVE) - Sponsor Memo

2017-S1924 (ACTIVE) - Bill Text download pdf

Comments