S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2095
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2021
                                ___________
 
 Introduced  by  M. of A. SIMON, ABBATE, DAVILA, GLICK -- Multi-Sponsored
   by -- M. of A.  CAHILL, COLTON, COOK, DICKENS, GOTTFRIED, JEAN-PIERRE,
   REYES, SOLAGES, WALKER, WILLIAMS -- read  once  and  referred  to  the
   Committee on Economic Development
 
 AN ACT to amend the New York state urban development corporation act, in
   relation  to  creating  the hospital and multiple dwelling energy loan
   fund
 
   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
 high energy costs are considered a significant burden on  hospitals  and
 multiple dwellings. Therefore, the legislature seeks to provide funds to
 reduce  high  energy  costs,  via  a  zero or low interest loan, or loan
 interest rate  reduction  program  for  energy  efficiency  projects  to
 provide  fiscal relief for hospitals and multiple dwellings in the state
 of New York.
   § 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-bb to read as follows:
   § 16-BB. HOSPITAL AND MULTIPLE DWELLING ENERGY LOAN PROGRAM. 1.  DEFI-
 NITIONS. FOR THE PURPOSE OF THIS SECTION:
   (A)  "AUTHORITY"  SHALL  MEAN  THE  NEW YORK STATE ENERGY RESEARCH AND
 DEVELOPMENT AUTHORITY AS DEFINED IN SECTION ONE THOUSAND  EIGHT  HUNDRED
 FIFTY-ONE OF THE PUBLIC AUTHORITIES LAW.
   (B)  "ECONOMICALLY DISTRESSED AREAS" SHALL MEAN AREAS AS DETERMINED BY
 THE CORPORATION,  MEETING  CRITERIA  INDICATIVE  OF  ECONOMIC  DISTRESS,
 INCLUDING CONSIDERATION OF UNEMPLOYMENT RATE; RATE OF EMPLOYMENT CHANGE;
 NUMBERS AND PERCENTAGES OF LOW-INCOME PERSONS; PER CAPITA INCOME AND PER
 CAPITA  REAL  PROPERTY  WEALTH; SUCH OTHER INDICATORS OF DISTRESS AS THE
 CORPORATION SHALL DETERMINE. ECONOMICALLY DISTRESSED AREAS  MAY  INCLUDE

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01098-01-1
              

 A. 2095                             2
 
 DESIGNATIONS  SUCH AS CITIES, MUNICIPALITIES, BLOCK NUMBERING AREAS, AND
 CENSUS TRACTS.
   (C)  "LOAN  FUND" SHALL MEAN THE HOSPITAL AND MULTIPLE DWELLING ENERGY
 LOAN FUND ESTABLISHED PURSUANT TO THIS SECTION.
   (D) "HOSPITAL" SHALL HAVE THE SAME MEANING AS PROVIDED IN  SUBDIVISION
 ONE OF SECTION TWO THOUSAND EIGHT HUNDRED ONE OF THE PUBLIC HEALTH LAW.
   (E)  "MULTIPLE  DWELLING"  SHALL  HAVE THE SAME MEANING AS PROVIDED IN
 SUBDIVISION SEVEN OF SECTION FOUR OF THE MULTIPLE DWELLING LAW AND SHALL
 INCLUDE MULTIPLE DWELLINGS LOCATED IN NEW YORK STATE.
   2. (A) THE CORPORATION, WITH THE ASSISTANCE OF  THE  AUTHORITY,  SHALL
 ESTABLISH  A  HOSPITAL AND MULTIPLE DWELLING ENERGY LOAN FUND TO PROVIDE
 ZERO OR LOW INTEREST LOANS AND LOAN INTEREST RATE REDUCTIONS  TO  HOSPI-
 TALS  AND  MULTIPLE  DWELLINGS IN BOTH ECONOMICALLY DISTRESSED AREAS AND
 NON-ECONOMICALLY  DISTRESSED  AREAS  STATEWIDE  FOR  ENERGY   EFFICIENCY
 PROJECTS AND ADVANCED ENERGY TECHNOLOGIES.
   (B)  IN  ORDER  TO  BE  ELIGIBLE  TO PARTICIPATE IN THIS LOAN PROGRAM,
 HOSPITALS AND MULTIPLE DWELLINGS IN BOTH ECONOMICALLY  DISTRESSED  AREAS
 AND  NON-ECONOMICALLY  DISTRESSED  AREAS  STATEWIDE  MUST HAVE AN ENERGY
 AUDIT PROVIDED THROUGH THE AUTHORITY'S ENERGY AUDIT PROGRAM  THAT  MAKES
 INFORMED  ELECTRICAL  ENERGY  DECISIONS  AND IMPLEMENT ENERGY EFFICIENCY
 STRATEGIES.  TECHNOLOGIES IDENTIFIED IN SUCH AUDIT SHALL BECOME ELIGIBLE
 TECHNOLOGIES FOR WHICH MONIES FOR THE LOAN FUND MAY BE AVAILABLE.
   3. (A) THE CORPORATION SHALL, WITHIN AVAILABLE APPROPRIATIONS, PROVIDE
 FINANCIAL ASSISTANCE FROM THE LOAN FUND TO ELIGIBLE HOSPITALS AND MULTI-
 PLE DWELLINGS IN BOTH ECONOMICALLY DISTRESSED AREAS AND NON-ECONOMICALLY
 DISTRESSED AREAS STATEWIDE.
   (B) THE CORPORATION IS AUTHORIZED TO  PROVIDE  ZERO  OR  LOW  INTEREST
 LOANS  FROM  THE LOAN FUND FOR ELIGIBLE IMPROVEMENTS. TO BE ELIGIBLE FOR
 SUCH LOANS, A HOSPITAL AND MULTIPLE DWELLING  IN  BOTH  AN  ECONOMICALLY
 DISTRESSED  AREA  AND  NON-ECONOMICALLY  DISTRESSED AREA STATEWIDE SHALL
 IDENTIFY AN ELIGIBLE IMPROVEMENT PROJECT AND PROVIDE NECESSARY  DOCUMEN-
 TATION.   HOSPITALS   AND   MULTIPLE  DWELLINGS  BASED  IN  ECONOMICALLY
 DISTRESSED AREAS STATEWIDE SHALL RECEIVE AT LEAST SIXTY PERCENT  OF  THE
 TOTAL  DOLLAR  AMOUNT  OF  LOANS  PROVIDED TO ALL HOSPITALS AND MULTIPLE
 DWELLINGS IN A GIVEN YEAR FROM THE HOSPITAL AND MULTIPLE DWELLING ENERGY
 LOAN FUND.
   (C)(I) THE CORPORATION IS AUTHORIZED TO  PROVIDE  LOAN  INTEREST  RATE
 REDUCTIONS  FROM THE LOAN FUND FOR ELIGIBLE IMPROVEMENTS. TO BE ELIGIBLE
 FOR AN INTEREST RATE REDUCTION, A HOSPITAL AND MULTIPLE DWELLING IN BOTH
 AN ECONOMICALLY DISTRESSED AREA  AND  NON-ECONOMICALLY  DISTRESSED  AREA
 STATEWIDE SHALL:
   (1)  IDENTIFY  AN  ELIGIBLE  IMPROVEMENT PROJECT AND PROVIDE NECESSARY
 DOCUMENTATION, AND (2) RECEIVE A LOAN COMMITMENT  FROM  A  PARTICIPATING
 LENDER,  INCLUDING BANKS, CREDIT UNIONS, COMMUNITY DEVELOPMENT FINANCIAL
 INSTITUTIONS, AND FARM CREDIT ASSOCIATIONS.
   (II) THE CORPORATION IS AUTHORIZED TO BUY DOWN THE PARTICIPATING LEND-
 ER'S INTEREST RATE BY UP TO FOUR HUNDRED BASIS POINTS  OR  FOUR  PERCENT
 THROUGH  THE LOAN FUND. SUCH INTEREST RATE REDUCTIONS SHALL BE AVAILABLE
 FOR THE LESSER OF TEN YEARS OR THE LIFE OF THE LOAN.
   (D) LOANS PROVIDED BY THE CORPORATION OR  ISSUED  BY  A  PARTICIPATING
 LENDER SHALL NOT EXCEED ONE HUNDRED THOUSAND DOLLARS.
   4.  ENERGY  EFFICIENCY  IMPROVEMENTS ELIGIBLE FOR ZERO OR LOW INTEREST
 LOANS OR LOAN INTEREST RATE  REDUCTIONS  THROUGH  THE  LOAN  FUND  SHALL
 INCLUDE, BUT NOT BE LIMITED TO:
   (A)  PRE-QUALIFIED MEASURES THAT ARE PROVEN COST EFFECTIVE INVESTMENTS
 WHICH REDUCE ENERGY USE;

 A. 2095                             3
 
   (B) CUSTOM MEASURES THAT PAY  FOR  THEMSELVES  IN  TEN  YEARS  THROUGH
 REDUCED ENERGY USE;
   (C)  PROCESS IMPROVEMENT MEASURES THAT REDUCE MANUFACTURING ENERGY USE
 ON A COST-PER-UNIT BASIS; AND
   (D) RENEWABLE TECHNOLOGIES THAT USE THE SUN, WIND, WATER OR GROUND  TO
 GENERATE HEAT OR POWER.
   5.  APPLICATIONS  FOR  ASSISTANCE  PURSUANT  TO  THIS SECTION SHALL BE
 REVIEWED AND EVALUATED  BY  THE  CORPORATION  IN  COOPERATION  WITH  THE
 AUTHORITY PURSUANT TO ELIGIBILITY REQUIREMENTS AND CRITERIA SET FORTH IN
 THE RULES AND REGULATIONS PROMULGATED BY THE CORPORATION.
   6.  THE  CORPORATION  AND THE AUTHORITY SHALL SUBMIT AN ANNUAL WRITTEN
 REPORT TO THE SPEAKER OF THE ASSEMBLY AND THE TEMPORARY PRESIDENT OF THE
 SENATE IDENTIFYING  THE  NUMBER  OF  HOSPITALS  AND  MULTIPLE  DWELLINGS
 ASSISTED  THROUGH  THE  LOAN FUND PROGRAM, AND THE TYPES OF IMPROVEMENTS
 IMPLEMENTED AND ENERGY COST SAVINGS REALIZED BY THE HOSPITALS AND MULTI-
 PLE DWELLINGS ASSISTED BY THIS PROGRAM.
   § 3. Paragraph (m) of subdivision 1 of section 16-m of  section  1  of
 chapter  174  of the laws of 1968, constituting the New York state urban
 development corporation act, as added by chapter  467  of  the  laws  of
 2011, is amended and a new paragraph (o) is added to read as follows:
   (m)  Assistance  to businesses that conduct basic, applied or transla-
 tional research that leads to the development of products  that  improve
 human  health  or  agriculture  and that require approval by the federal
 food and drug administration, in order to create or  expand  facilities,
 in  accordance  with  good manufacturing practice regulations, that will
 create or retain more than fifty jobs. For purposes of  this  paragraph,
 good  manufacturing  practice  regulations  refers  to those regulations
 promulgated by the United States Food and Drug Administration under  the
 authority of the Federal Food, Drug and Cosmetic Act[.];
   (O)  LOANS, LOAN GUARANTEES, INTEREST SUBSIDY GRANTS AND DIRECT GRANTS
 TO HOSPITALS AND MULTIPLE DWELLINGS UNDER SECTION SIXTEEN-BB OF THIS ACT
 FOR ENERGY EFFICIENCY PROJECTS AND ADVANCED ENERGY TECHNOLOGIES.
   § 4. This act shall take effect immediately, provided,  however,  that
 the  amendments  to section 16-m of the New York state urban development
 corporation act made by section three of this act shall not  affect  the
 expiration of such section and shall expire and be deemed repealed ther-
 ewith.