S T A T E O F N E W Y O R K
________________________________________________________________________
5305--A
2019-2020 Regular Sessions
I N S E N A T E
April 24, 2019
___________
Introduced by Sen. HARCKHAM -- read twice and ordered printed, and when
printed to be committed to the Committee on Energy and Telecommuni-
cations -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee
AN ACT to amend the public service law, in relation to the transfer or
lease of closed electric generators; and in relation to payment of
prevailing wages of affected employees of the Indian Point Nuclear
Power Plant
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 70 of the public service law, as amended by chapter
226 of the laws of 2009, is amended to read as follows:
§ 70. Transfer of franchises or stocks. 1. No gas corporation [or],
electric corporation OR CLOSED ELECTRIC GENERATOR shall transfer or
lease its franchise, works or system or any part of such franchise,
works or system to any other person or corporation or contract for the
operation of its works and system, without the written consent of the
commission. Notwithstanding the foregoing, any transfer or lease with an
original cost of (a) less than one hundred thousand dollars proposed by
a gas [or] CORPORATION, electric corporation OR CLOSED ELECTRIC GENERA-
TOR having annual gross revenues in excess of two hundred million
dollars or (b) less than twenty-five thousand dollars proposed by a gas
[or] CORPORATION, electric corporation OR CLOSED ELECTRIC GENERATOR
having annual gross revenues of less than two hundred million dollars
shall be effective without the commission's written consent within nine-
ty days after such corporation notifies the commission that it plans to
complete the transfer or lease and submits a description of the transfer
or lease; provided, however, that the commission may determine within
such ninety days after such notification and submission that the public
interest requires its review and written consent.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11295-06-9
S. 5305--A 2
2. The permission and approval of the commission, to the exercise of a
franchise under section sixty-eight of this article, or to the assign-
ment, transfer or lease of a franchise under this section shall not be
construed to revive or validate any lapsed or invalid franchise or to
enlarge or add to the powers and privileges contained in the grant of
any franchise or to waive any forfeiture.
3. No gas corporation [or], electric corporation OR CLOSED ELECTRIC
GENERATOR shall directly or indirectly acquire the stock or bonds of any
other corporation incorporated for, or engaged in, the same or a similar
business, in this state or any other state, or proposing to operate or
operating under a franchise from the same or any other municipality,
neither shall any street railroad corporation acquire the stock or bonds
of any electric corporation, unless authorized so to do by the commis-
sion.
4. Save where stock shall be transferred or held for the purpose of
collateral security only with the consent of the commission empowered by
this chapter to give such consent, no stock corporation of any
description, domestic or foreign, company, including, but not limited
to, a limited liability company, association, including a joint stock
association, partnership, including a limited liability partnership, or
person, other than a gas corporation [or], electric corporation, CLOSED
ELECTRIC GENERATOR or street railroad corporation, shall purchase or
acquire, take or hold, more than ten per centum of the voting capital
stock issued by any gas corporation [or], electric corporation OR CLOSED
ELECTRIC GENERATOR organized or existing under or by virtue of the laws
of this state, except that a corporation now lawfully holding a majority
of the voting capital stock of any gas corporation [or], electric corpo-
ration OR CLOSED ELECTRIC GENERATOR may with the consent of the commis-
sion acquire and hold the remainder of the voting capital stock of such
gas corporation [or], electric corporation OR CLOSED ELECTRIC GENERATOR
or any portion thereof. Provided, that with the consent of such commis-
sion and upon and subject to such terms and conditions as such commis-
sion may fix and impose, any such stock corporation, company, associ-
ation, partnership or person may acquire, take and hold more than ten
per centum of the voting capital stock of any gas corporation [or],
electric corporation OR CLOSED ELECTRIC GENERATOR, organized or existing
under or by virtue of the laws of this state.
5. No consent shall be given by the commission to the acquisition of
any stock in accordance with this section unless it shall have been
shown that such acquisition is in the public interest. Nothing herein
contained shall be construed to prevent the holding of any stock hereto-
fore lawfully acquired, nor to prevent, upon the surrender or exchange
of such stock pursuant to a reorganization plan, the purchase, acquisi-
tion, taking or holding of a proportionate amount of stock of any new
corporation organized to take over, at foreclosure or other sale, the
property of any corporation whose stock has been thus surrendered or
exchanged; but the proportion of the voting capital stock of the new
corporation held by a stock corporation, company, association, partner-
ship or person and acquired by it by any such surrender or exchange of
stock shall not without the consent of the commission exceed the propor-
tion of the voting capital stock held by it in the former corporation.
6. Every contract, assignment, transfer or agreement for transfer of
any stock by or through any person or corporation to any corporation,
company, association, partnership or person in violation of any
provision of this chapter shall be void and of no effect, and no such
transfer or assignment shall be made upon the books of any such gas
S. 5305--A 3
corporation, [or] electric corporation OR CLOSED ELECTRIC GENERATOR, or
shall be recognized as effective for any purpose.
7. No consent, permission or approval otherwise required under this
section shall be necessary for the sale of the franchise, works, system,
stocks or bonds by a gas [or] CORPORATION, electric corporation OR
CLOSED ELECTRIC GENERATOR to a duly constituted authority of the state.
8. ANY TRANSFER OR LEASE, AS WELL AS ANY DECOMMISSIONING ACTIVITIES,
BY A CLOSED ELECTRIC GENERATOR OF ITS FRANCHISE, WORKS OR SYSTEM OR ANY
PART OF SUCH FRANCHISE, WORKS OR SYSTEM TO ANY CORPORATION, FIRM, COMPA-
NY, PARTNERSHIP, LIMITED LIABILITY COMPANY, ASSOCIATION OR PERSON SHALL,
TO THE MAXIMUM EXTENT PRACTICABLE, PROVIDE THAT EMPLOYEES OF SUCH CLOSED
ELECTRIC GENERATOR WITH SKILL SETS NECESSARY FOR THE OPERATION OF A
SUCCESSOR CORPORATION, FIRM, COMPANY, PARTNERSHIP, LIMITED LIABILITY
COMPANY, ASSOCIATION OR PERSON BE RETAINED FOR EMPLOYMENT WITH SUCH
SUCCESSOR AND SHALL BE PAID A WAGE OF NOT LESS THAN THE PREVAILING WAGE
IN THE LOCALITY WHERE SUCH CLOSED ELECTRIC GENERATOR IS LOCATED.
9. ANY CORPORATION, FIRM, COMPANY, PARTNERSHIP, LIMITED LIABILITY
COMPANY OR ASSOCIATION, HEREINAFTER "PURCHASER", WITH A CONTRACT TO
PURCHASE THE INDIAN POINT NUCLEAR POWER PLANT SHALL ENTER INTO A PROJECT
LABOR AGREEMENT, HEREINAFTER "PLA", BETWEEN THE PURCHASER AND THE BUILD-
ING AND CONSTRUCTION TRADES COUNCIL OF WESTCHESTER AND PUTNAM COUNTIES,
NEW YORK, ASSURING THAT ALL WORK SHALL BE DONE IN A SAFE, EFFICIENT AND
TIMELY MANNER WITH ALL THE COST SAVINGS ASSOCIATED WITH THE PLA.
§ 2. Notwithstanding any other provision of law to the contrary, the
commissioner of labor shall ensure that any employees of the Indian
Point Nuclear Power Plant, located at 450 Broadway, Buchanan, New York,
10511, and any successor or successors in interest to the Indian Point
Nuclear Power Plant, shall be granted notice to any affected employees
pursuant to section 860-b of the labor law and such employees shall be
granted prevailing wages pursuant to section 220 of the labor law. Such
affected employees shall be paid a premium wage commensurate with the
premium wages prevailing in the area in which the work is performed
until such time as the Indian Point Nuclear Power Plant is closed.
§ 3. Notwithstanding any other provision of law to the contrary, any
corporation, firm, company, partnership, limited liability company or
association, hereinafter known as "purchaser" with a contract to
purchase the Indian Point Nuclear Power Plant, to the extent practica-
ble, shall maintain the current workforce through the conclusion of the
purchase of such power plant. In hiring any new employees, such
purchaser shall hire from a pool of current employees at the Indian
Point Nuclear Power Plant unless such purchaser proves to the department
of labor that such employees' skills do not meet the requirements needed
for the open positions. The department of labor shall oversee the
purchase, sale and employment practices of the Indian Point Nuclear
Power Plant.
§ 4. This act shall take effect immediately.
