New York A 6064: Limits the municipal sustainable energy loan program to entities which are not individuals

Bill Text

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A06064 Summary:

BILL NOA06064 

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SAME ASNo Same As

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SPONSORHunter

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COSPNSR

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MLTSPNSR

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Amd §§119-ee & 119-gg, Gen Muni L

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Limits the municipal sustainable energy loan program to commercial entities, not-for-profit organizations, or entities other than individuals.

Go to top A06064 Actions:

BILL NOA06064 

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02/26/2025referred to energy

01/07/2026referred to energy

Go to topA06064 Committee&nbspVotes:

Go to topA06064 Floor&nbspVotes:

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

Go to topA06064 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6064

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 26, 2025
 ___________

 Introduced by M. of A. HUNTER -- read once and referred to the Committee
 on Energy

 AN ACT to amend the general municipal law, in relation to limiting the
 municipal sustainable energy loan program to entities which are not
 individuals

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

 1 Section 1. Section 119-ee of the general municipal law, as added by
 2 chapter 497 of the laws of 2009, is amended to read as follows:
 3 § 119-ee. Legislative findings and declaration. [The] According to
 4 article seventy-five of the environmental conservation law, the legisla-
 5 ture finds and declares that it is the policy of the state to achieve
 6 statewide energy efficiency and renewable energy goals, reduce green-
 7 house gas emissions and mitigate the effect of global climate change,
 8 and advance a clean energy economy; and that to achieve such policy and
 9 goals the state must promote the deployment of renewable energy systems
 10 and energy efficiency measures throughout the state; and that munici-
 11 palities would fulfill an important public purpose by providing loans to
 12 commercial property owners for the installation of renewable energy
 13 systems and energy efficiency measures.
 14 § 2. Subdivisions 2 and 6 of section 119-gg the general municipal law,
 15 subdivision 2 as added by chapter 497 of the laws of 2009, and subdivi-
 16 sion 6 as amended by chapter 320 of the laws of 2017, are amended to
 17 read as follows:
 18 2. Such program may make loans to the owners of real property that are
 19 a commercial entity, not-for-profit organization, or entity other than
 20 an individual located within the municipal corporation to finance the
 21 installation of renewable energy systems and energy efficiency improve-
 22 ments, related energy audits and renewable energy system feasibility
 23 studies, and the verification of the installation of such systems and
 24 improvements. No municipal corporation shall make such a loan to an

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09827-01-5

 A. 6064 2

 1 owner of property that has received a loan from another municipal corpo-
 2 ration pursuant to this article.
 3 6. [a. For loans made to an owner of real property that is a commer-
 4 cial entity, not-for-profit organization, or entity other than an indi-
 5 vidual, the] The municipal corporation shall have the authority to
 6 impose requirements on the maximum amount that may be borrowed through
 7 such loan, which may consider factors including but not limited to the
 8 property value, projected savings, project cost, and existing indebt-
 9 edness secured by such property.
 10 [b. For loans made to an owner of real property who is an individual,
 11 the principal amount of each such loan, excluding interest, shall not
 12 exceed the lesser of ten percent of the appraised real property value or
 13 the actual cost of installing the renewable energy system and energy
 14 efficiency improvements, including the costs of necessary equipment,
 15 materials, and labor, the costs of each related energy audit and renewa-
 16 ble energy system feasibility study, and the cost of verification of
 17 such renewable energy system and energy efficiency improvements.]
 18 § 3. This act shall take effect immediately.

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