New York A 9224: Authorizes the New York State Energy Research and Development Authority to loan money to utility companies for purposes of capital expenditures

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A09224 Summary:

BILL NOA09224 

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SAME ASNo Same As

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SPONSORJacobson

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COSPNSR

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MLTSPNSR

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Amd §1854, Pub Auth L

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Authorizes the New York State Energy Research and Development Authority to loan money to utility companies for purposes of capital expenditures; authorizes the issuance of bonds.

Go to top A09224 Actions:

BILL NOA09224 

&nbsp

11/03/2025referred to corporations, authorities and commissions

01/07/2026referred to corporations, authorities and commissions

Go to topA09224 Committee&nbspVotes:

Go to topA09224 Floor&nbspVotes:

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

Go to topA09224 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9224

 2025-2026 Regular Sessions

 IN ASSEMBLY

 November 3, 2025
 ___________

 Introduced by M. of A. JACOBSON -- read once and referred to the Commit-
 tee on Corporations, Authorities and Commissions

 AN ACT to amend the public authorities law, in relation to authorizing
 the New York State Energy Research and Development Authority to loan
 money to utility companies for purposes of capital expenditures

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

 1 Section 1. Section 1854 of the public authorities law is amended by
 2 adding a new subdivision 27 to read as follows:
 3 27. (a) To loan money to utility companies for purposes of capital
 4 expenditures. The authority shall make such loans at an interest rate no
 5 more than one percent above the interest rate at which the bonds for
 6 this purpose were issued. For purposes of this subdivision, the term
 7 utility companies shall mean those utilities regulated by the public
 8 service commission.
 9 (b) The authority is authorized to issue bonds specifically for the
 10 purpose of funding the loans described in paragraph (a) of this subdivi-
 11 sion.
 12 § 2. This act shall take effect on the ninetieth day after it shall
 13 have become a law. Effective immediately, the addition, amendment and/or
 14 repeal of any rule or regulation necessary for the implementation of
 15 this act on its effective date are authorized to be made and completed
 16 on or before such effective date.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13940-01-5

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