BILL NUMBER:  S3121

 TITLE OF BILL :  An act to amend the public authorities law, in
relation to emerging technology industrial classifications for clean
environment and energy technologies

 PURPOSE OR GENERAL IDEA OF BILL :

The intent of this legislation is to add clean environmental and
energy technologies to the list of emerging industrial classifications
in New York State.

 SUMMARY OF SPECIFIC PROVISIONS :

A new subparagraph seven is added to section 3102-e of the Public
Authorities Law to read as follows:

(7) clean environment and energy technologies that involve new and
innovative pollution reduction methods, renewable resource energy
generation or storage, and energy efficiency measures such as smart
grid, automated or computerized energy control systems designed to
deliver electric generation to the end use customer in an integrated
manner using the latest advances in digital and informational
technology to improve electric system efficiency.

 JUSTIFICATION :
              

The intent of this legislation is to add clean environmental and
energy technologies to the list of emerging industrial classifications
in New York State. This classification will allow entrepreneurs and
business involved in cutting edge clean environmental and energy
technologies to be certified as a "Qualified Emerging Technology
Company" which would make them eligible for additional capital tax
credits and investment opportunities.

Currently, for a company to be certified as by the NYS Commissioner of
Tax and Finance for tax breaks as emerging technology company (QETC),
the industry must: (i) be as defined under section 3102-e of the
public authorities law (PAL); (ii) be located in New York State; and,

(iii) have total annual product sales of $10 million or less. The
current emerging technologies under section 3102-e(1) (b) of the PAL
those technologies related to: advanced materials and processing;
engineering, production, and defense; electronic and photonic devices
and components; information and communication technologies;
biotechnologies; and, remanufacturing. In New York State, significant
investment is already being made by businesses and utilities, as well
as the New York State Energy and Research Development Authority
(NYSERDA), the Empire State Development Corporation (ESDC), the Public
Service Commission (PSC), the Division of Housing and Community
Renewal (DHCR) and the New York. State Foundation for Science,
Technology and Innovation (NYSTAR). In addition to State funding,
there has also been increased funding available from the federal
sources. This growth is expected to create new business opportunities
and integrate clean environmental and energy technologies, practices
and services across all sectors. While significant investment is being
made in New York, the State faces the threat of falling behind in the
race to develop the clean environmental and energy technologies to
other states such as California, Connecticut, Maine, Maryland,
Massachusetts, New Jersey as well as several other states being to
actively pursue supporting these technologies. If New York State fails
to aggressively promote these technologies, it would mean a
significant loss of revenue, but also a significant job loss from a
sector that is actively working to train and develop a skilled
workforce capable of supporting these industries.

 PRIOR LEGISLATIVE HISTORY :

2015-2016: S.1526 - Referred to Commerce, Economic Development and
Small Business
2013-2014: S.3206 -Died in Commerce
2011-2012: S.3371 - Died in Commerce, Ec Dev, Small Business
2010: S.8356 - Died in Rules

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

None.

 EFFECTIVE DATE :
This act shall take effect immediately.