New York S 1357: Relates to the amount of St. Lawrence county economic development power that may be used by the New York Power Authority to generate net earnings

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S01357 Summary:

BILL NOS01357 

&nbsp

SAME ASSAME AS A00040

&nbsp

SPONSORSTEC

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §1005, Pub Auth L; amd §197-a, Ec Dev L

&nbsp

Relates to the amount of St. Lawrence county economic development power that may be used by the New York Power Authority to generate net earnings and authority-TMED contracts.

Go to top S01357 Actions:

BILL NOS01357 

&nbsp

01/09/2025REFERRED TO ENERGY AND TELECOMMUNICATIONS

01/07/2026REFERRED TO ENERGY AND TELECOMMUNICATIONS

06/02/2026COMMITTEE DISCHARGED AND COMMITTED TO RULES

06/02/2026ORDERED TO THIRD READING CAL.1527

06/02/2026PASSED SENATE

06/02/2026DELIVERED TO ASSEMBLY

06/02/2026referred to energy

Go to topS01357 Committee&nbspVotes:

Go to topS01357 Floor&nbspVotes:

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

Go to topS01357 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1357

 2025-2026 Regular Sessions

 IN SENATE

 January 9, 2025
 ___________

 Introduced by Sen. STEC -- read twice and ordered printed, and when
 printed to be committed to the Committee on Energy and Telecommuni-
 cations

 AN ACT to amend the public authorities law, in relation to the amount of
 St. Lawrence county economic development power that may be used by the
 New York Power Authority to generate net earnings; and to amend the
 economic development law, in relation to authority-TMED contracts

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

 1 Section 1. Paragraph (c) of subdivision 24 of section 1005 of the
 2 public authorities law, as added by chapter 545 of the laws of 2014, is
 3 amended to read as follows:
 4 (c) The authority shall establish an account to be known as the north-
 5 ern New York economic development fund, which shall consist solely of
 6 net earnings. The authority, as determined to be feasible and advisable
 7 by the trustees, shall deposit net earnings into the fund no less than
 8 quarterly, provided, however, that the amount of St. Lawrence county
 9 economic development power that may be used by the authority to generate
 10 net earnings shall not exceed the lesser of twenty megawatts or the
 11 amount of St. Lawrence county economic development power that has not
 12 been allocated by the authority under the authority-TMED contract for
 13 sub-allocations, [and provided further that beginning five years from
 14 the effective date of this subdivision, the amount of St. Lawrence coun-
 15 ty economic development power that may be used by the authority to
 16 generate net earnings shall not exceed the lesser of ten megawatts or
 17 the amount of St. Lawrence county economic development power that has
 18 not been allocated by the authority under the authority-TMED contract
 19 for sub-allocations] or directly allocated by the authority to one or
 20 more qualified applicants under the authority-TMED contract. At least
 21 fifteen percent of net earnings paid into the fund shall be dedicated to
 22 eligible projects which are energy-related projects, programs and

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00054-01-5

 S. 1357 2

 1 services as such term is defined in subparagraph two of paragraph (b) of
 2 subdivision seventeen of this section. In addition to funding eligible
 3 projects, the authority may use northern New York economic development
 4 fund monies to cover reasonable costs and expenses of the authority
 5 related to the management and administration of the northern New York
 6 power proceeds allocation program created by article seven-A of the
 7 economic development law.
 8 § 2. Subdivision 2 of section 197-a of the economic development law,
 9 as added by chapter 545 of the laws of 2014, is amended to read as
 10 follows:
 11 2. "Authority-TMED contract" refers to a certain contract between the
 12 authority and the town of Massena electric department, entitled "Agree-
 13 ment Governing the Sale of St. Lawrence-FDR Project Power and Energy to
 14 the Town of Massena Electric Department for Economic Development
 15 Purposes," executed and dated by the authority on October eighteenth,
 16 two thousand twelve, and the associated authority service tariff is