New York A 10509: Relates to the definition of construction contracts

Bill Text

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A10509 Summary:

BILL NOA10509 

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SAME ASSAME AS S00734

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SPONSORKelles

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COSPNSRGallagher

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MLTSPNSR

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Add §1018, Pub Auth L; add §99-ss, St Fin L

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Establishes an energy project revolving loan program and energy project revolving loan fund to encourage the development of renewable energy generating projects by awarding financial assistance for certain zero-emission energy generation projects.

Go to top A10509 Actions:

BILL NOA10509 

&nbsp

03/06/2026referred to corporations, authorities and commissions

Go to topA10509 Committee&nbspVotes:

Go to topA10509 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA10509 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10509

 IN ASSEMBLY

 March 6, 2026
 ___________

 Introduced by M. of A. KELLES -- read once and referred to the Committee
 on Corporations, Authorities and Commissions

 AN ACT to amend the public authorities law and the state finance law, in
 relation to establishing an energy project revolving loan program and
 energy project revolving loan fund

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The public authorities law is amended by adding a new
 2 section 1018 to read as follows:
 3 § 1018. Energy project revolving loan program. 1. For the purposes of
 4 this section, the following terms shall have the following meanings:
 5 (a) "Program" means the energy project revolving loan program estab-
 6 lished pursuant to this section.
 7 (b) "Eligible energy project" means a zero-emission energy generation
 8 project.
 9 (c) "Energy producing entity" means a public entity, not-for-profit
 10 entity, or utility, proposing a zero-emission energy generation project.
 11 "Energy producing entity" shall include, but not be limited to, the
 12 power authority of the state of New York.
 13 (d) "Project labor agreement" means a pre-hire collective bargaining
 14 agreement between the authority, or a third party on behalf of the
 15 authority, and a bona fide building and construction trade labor organ-
 16 ization establishing the labor organization as the collective bargaining
 17 representative for all persons who will perform work on a public work
 18 project, and which provides that only contractors and subcontractors who
 19 sign a pre-negotiated agreement with the labor organization can perform
 20 project work.
 21 2. The authority, in collaboration with the Green Bank, a division of
 22 the New York state energy research and development authority, is hereby
 23 authorized and directed to establish an energy project revolving loan
 24 program to provide zero-percent interest or low-percent interest loans,
 25 in accordance with subdivision four of this section, to energy producing
 26 entities to finance eligible energy projects. Notwithstanding the
 27 provisions of any law to the contrary, state financial assistance in the

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03086-01-5

 A. 10509 2

 1 form of a loan may be provided for costs of eligible projects for capi-
 2 tal costs related to such projects.
 3 3. The authority shall issue a competitive request for proposals from
 4 energy producing entities to receive loans under the program for eligi-
 5 ble energy projects. The authority shall make a determination as to the
 6 energy producing entities to be awarded state financial assistance under
 7 this section, and the amount of such financial assistance. In making
 8 such determinations, the authority shall conduct a cost-benefit analy-
 9 sis, comparing the potential occurrence of such project against the
 10 baseline of such project not occurring, to determine the overall bene-
 11 fits of such proposed energy project to the state and to ratepayers. An
 12 eligible energy project shall be proven to be beneficial to the state
 13 and to ratepayers in order for financial assistance to be awarded for
 14 such project. The authority shall also consider the probability of
 15 completion of such eligible energy project in making such determi-
 16 nations, in order to ensure a high probability of completion of eligible
 17 energy projects