NY State Senate Bill 2017-S746

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 04, 2017	referred to finance

co-Sponsors

2017-S746 (ACTIVE) - Details

Current Committee:: Senate Finance
Law Section:: State Finance Law
Laws Affected:: Add §97-u, St Fin L
Versions Introduced in Other Legislative Sessions:: 2013-2014: S5468
2015-2016: S2304

2017-S746 (ACTIVE) - Summary

Relates to a three phase power revolving loan program.

2017-S746 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S746

 TITLE OF BILL :

An act to amend the state finance law, in relation to a three phase
power revolving loan program

 PURPOSE :

This bill establishes a revolving loan program to provide farmers in
Jefferson, Montgomery, Oswego and St. Lawrence Counties 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
establishes a Three Phase Power Revolving Loan Program in the counties
of Jefferson, Montgomery, Oswego, and Saint Lawrence to provide
farmers with low interest loans so that they can upgrade their
electricity to three phase power. The amount of funds available for
the program in each county shall be subject to a budgetary
appropriation. This section also provides that the Industrial
Development Agency in each of the counties that are part of the
program shall promulgate the rules and regulations necessary to carry
out the provisions of this section. Lastly, the loans must be within

the amount available in each county's three phase power revolving loan
program.

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 is 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 does that by creating the Three Phase Power Revolving Loan
Program which will provide farmers in Jefferson, Montgomery, Oswego,
and Saint Lawrence Counties with low interest loans to help cover the
cost of bringing three phase power to their farm.

 LEGISLATIVE HISTORY :

2015-2016: S.2304-A Referred to Finance.
2013-2014: S.5468/A.7985

 FISCAL IMPLICATIONS :

Subject to budgetary appropriation.

 EFFECTIVE DATE :
This act shall take effect on the one hundred eightieth 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-S746 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    746
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              January 4, 2017
                                ___________
 
 Introduced  by Sens. RITCHIE, AMEDORE -- 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  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.  THREE  PHASE POWER REVOLVING LOAN PROGRAM. 1. THERE SHALL BE
 ESTABLISHED IN EACH OF THE FOLLOWING  COUNTIES:  JEFFERSON,  MONTGOMERY,
 OSWEGO  AND  ST.  LAWRENCE;  A  REVOLVING  LOAN  FUND 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. THE AMOUNT OF FUNDS AVAILABLE FOR THE  THREE  PHASE
 POWER  REVOLVING LOAN PROGRAM IN EACH COUNTY SHALL BE SUBJECT TO A BUDG-
 ETARY APPROPRIATION.
   2. THE INDUSTRIAL DEVELOPMENT AGENCY IN EACH OF THE FOUR COUNTIES THAT
 ARE PART OF THE THREE PHASE POWER REVOLVING LOAN PROGRAM  SHALL  PROMUL-
 GATE  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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06696-01-7

 S. 746                              2
 
   3. THE COUNTY INDUSTRIAL DEVELOPMENT AGENCY SHALL PROVIDE LOW INTEREST
 LOANS  TO  FARMERS  WITHIN  THE  AMOUNTS AVAILABLE IN THE COUNTY'S THREE
 PHASE POWER REVOLVING LOAN FUND ESTABLISHED PURSUANT TO THIS SECTION.
   § 2. This act shall take effect on the one hundred eightieth day after
 it  shall  have become a law. Effective immediately, any rules and regu-
 lations necessary to implement the provisions of this act on its  effec-
 tive date are authorized to be promulgated on or before such date.

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Senate Bill S746

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

co-Sponsors

2017-S746 (ACTIVE) - Details

2017-S746 (ACTIVE) - Summary

2017-S746 (ACTIVE) - Sponsor Memo

2017-S746 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S746

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Sponsored By

Patty Ritchie

Archive: Last Bill Status - In Senate Committee Finance Committee

co-Sponsors

George Amedore

2017-S746 (ACTIVE) - Details

2017-S746 (ACTIVE) - Summary

2017-S746 (ACTIVE) - Sponsor Memo

2017-S746 (ACTIVE) - Bill Text download pdf

Comments