Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 06, 2016 |
referred to corporations, authorities and commissions |
Feb 12, 2015 |
referred to corporations, authorities and commissions |
Senate Bill S3562
2015-2016 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D) 15th Senate District
(D) Senate District
2015-S3562 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7797
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- New York State Urban Development Corporation Act
- Laws Affected:
- Add §16-x, amd §16-m, UDC Act
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
A3945, A10474
2011-2012: S3014, A6712
2013-2014: S1739, A2587
2017-2018: S795, A3284
2019-2020: S853, A8802
2021-2022: S1204, A6480
2023-2024: A6335
2015-S3562 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3562 TITLE OF BILL: An act to amend the New York state urban development corporation act, in relation to creating the small business energy loan program PURPOSE OR GENERAL IDEA OF BILL: A loan program would be established to expand on existing programs operated by the New York State Energy Research Development Authority to make energy audits and energy efficient technology implementation more readily available to small businesses in economically distressed areas. This program would be structured according to the existing NYSERDA low-interest loan program, whereby small commercial businesses are eligible to have certified energy audit specialists conduct energy audits of the business and make recommendations for energy efficient activities, upgrades and technology installations. If the business chooses the energy efficient. activities and technologies recommended by the audit, the customer could access a low-interest loan fund to reduce the cost of installing such measures. SUMMARY OF SPECIFIC PROVISIONS: This bill would establish a small business energy loan fund to provide zero or low interest loans up to one hundred thousand dollars and loan interest rate reductions to small businesses in economically distressed areas for energy efficiency projects and advanced energy technologies. In order to be eligible to participate in this loan program, small businesses in
2015-S3562 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3562 2015-2016 Regular Sessions I N S E N A T E February 12, 2015 ___________ Introduced by Sens. ESPAILLAT, ADDABBO, MONTGOMERY -- 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 small business energy loan program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The legislature hereby finds and declares that the state's chronically high energy costs are often cited as a key factor for why New York-based businesses and New York-made products are not competitive in national and global markets. The legislature further finds that the state's economic expansion is tied to the growth and development of small businesses. By reducing a primary cost component in a rapidly growing sector of the state's economy, those businesses are rendered more competitive, and thus help to better secure New York-based jobs. In addition, thriving businesses and communities will augment the tax base, which in distressed communities is disproportionately lower than in other areas of the state. Therefore, the legislature seeks to provide funds to reduce high ener- gy costs, via a zero or low interest loan, or loan interest rate reduction program for energy efficiency projects to stimulate the growth and development of small businesses and jobs in New York state. S 2. Section 1 of chapter 174 of the laws of 1968, constituting the New York state urban development corporation act, is amended by adding a new section 16-x to read as follows: S 16-X. SMALL BUSINESS ENERGY LOAN PROGRAM. 1. DEFINITIONS. FOR THE PURPOSE OF THIS SECTION: (A) "AUTHORITY" SHALL MEAN THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY AS DEFINED IN SECTION 1851 OF THE PUBLIC AUTHORI- TIES LAW. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08040-01-5
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