New York S 2167: Creates the hospital and multiple dwelling energy loan fund

Bill Text

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S02167 Summary:

BILL NOS02167 

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SAME ASSAME AS A01266

&nbsp

SPONSORCOMRIE

&nbsp

COSPNSR

&nbsp

MLTSPNSR

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Add §16-bb, amd §16-m, UDC Act

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Creates the hospital and multiple dwelling energy loan program.

Go to top S02167 Actions:

BILL NOS02167 

&nbsp

01/15/2025REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

01/07/2026REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Go to topS02167 Committee&nbspVotes:

Go to topS02167 Floor&nbspVotes:

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

Go to topS02167 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2167

 2025-2026 Regular Sessions

 IN SENATE

 January 15, 2025
 ___________

 Introduced by Sen. COMRIE -- read twice and ordered printed, and when
 printed to be committed to the Committee on Corporations, Authorities
 and Commissions

 AN ACT to amend the New York state urban development corporation act, in
 relation to creating the hospital and multiple dwelling energy loan
 fund

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

 1 Section 1. The legislature hereby finds and declares that the state's
 2 high energy costs are considered a significant burden on hospitals and
 3 multiple dwellings. Therefore, the legislature seeks to provide funds to
 4 reduce high energy costs, via a zero or low interest loan, or loan
 5 interest rate reduction program for energy efficiency projects to
 6 provide fiscal relief for hospitals and multiple dwellings in the state
 7 of New York.
 8 § 2. Section 1 of chapter 174 of the laws of 1968, constituting the
 9 New York state urban development corporation act, is amended by adding a
 10 new section 16-bb to read as follows:
 11 § 16-bb. Hospital and multiple dwelling energy loan program. 1. Defi-
 12 nitions. For the purpose of this section:
 13 (a) "Authority" shall mean the New York state energy research and
 14 development authority as defined in section one thousand eight hundred
 15 fifty-one of the public authorities law.
 16 (b) "Economically distressed areas" shall mean areas as determined by
 17 the corporation, meeting criteria indicative of economic distress,
 18 including consideration of unemployment rate; rate of employment change;
 19 numbers and percentages of low-income persons; per capita income and per
 20 capita real property wealth; such other indicators of distress as the
 21 corporation shall determine. Economically distressed areas may include
 22 designations such as cities, municipalities, block numbering areas, and
 23 census tracts.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02599-01-5

 S. 2167 2

 1 (c) "Loan fund" shall mean the hospital and multiple dwelling energy
 2 loan fund established pursuant to this section.
 3 (d) "Hospital" shall have the same meaning as provided in subdivision
 4 one of section two thousand eight hundred one of the public health law.
 5 (e) "Multiple dwelling" shall have the same meaning as provided in
 6 subdivision seven of section four of the multiple dwelling law and shall
 7 include multiple dwellings located in New York state.
 8 2. (a) The corporation, with the assistance of the authority, shall
 9 establish a hospital and multiple dwelling energy loan fund to provide
 10 zero or low interest loans and loan interest rate reductions to hospi-
 11 tals and multiple dwellings in both economically distressed areas and
 12 non-economically distressed areas statewide for energy efficiency
 13 projects and advanced energy technologies.
 14 (b) In order to be eligible to participate in this loan program,
 15 hospitals and multiple dwellings in both economically distressed areas
 16 and non-economically distressed areas statewide must have an energy
 17 audit provided through the authority's energy audit program that makes
 18 informed electrical energy decisions and implement energy efficiency
 19 strategies. Technologies identified in such audit shall become eligible
 20 technologies for which monies for the loan fund may be available.
 21 3. (a) The corporation shall, within available appropriations, provide
 22 financial assistance from the loan fund to eligible hospitals and multi-
 23 pl