S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5302
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 12, 2021
                                ___________
 
 Introduced by M. of A. ANGELINO -- read once and referred to the Commit-
   tee on Agriculture
 
 AN  ACT to amend the public authorities law, in relation to creating the
   concentrated animal feeding operation environmental compliance revolv-
   ing loan program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  public  authorities  law  is amended by adding a new
 section 1285-v  to read as follows:
   § 1285-V. CONCENTRATED ANIMAL FEEDING OPERATION ENVIRONMENTAL  COMPLI-
 ANCE  REVOLVING  LOAN  PROGRAM. 1. NOTWITHSTANDING THE PROVISIONS OF ANY
 GENERAL OR SPECIAL LAW TO THE CONTRARY, THE CORPORATION SHALL  UNDERTAKE
 TO  PROVIDE  FINANCIAL  ASSISTANCE TO FARM OPERATORS FOR THE PLANNING OF
 CERTIFIED NUTRIENT MANAGEMENT PLANS AND THE IMPLEMENTATION OF SUCH PLANS
 AS SET FORTH IN THIS SECTION.
   2. FOR PURPOSES OF THIS SECTION, AND NOTWITHSTANDING ANY PROVISION  OF
 LAW TO THE CONTRARY, AS USED IN THIS SECTION:
   (A)  "CONCENTRATED  ANIMAL FEEDING OPERATION" SHALL MEAN A FARM OPERA-
 TION PERMITTED PURSUANT TO TITLE SEVEN OR EIGHT OF ARTICLE SEVENTEEN  OF
 THE ENVIRONMENTAL CONSERVATION LAW.
   (B)  "FARM  OPERATOR"  SHALL  MEAN  A PERSON WHO ENGAGES IN FARMING OR
 DESIRES TO ENGAGE IN FARMING AND WHO IS THE OWNER OF A  FARM  OPERATION,
 AS  DEFINED  IN  SUBDIVISION  ELEVEN OF SECTION THREE HUNDRED ONE OF THE
 AGRICULTURE AND MARKETS LAW.
   (C) "LENDER" SHALL MEAN ANY STATE OR FEDERALLY-CHARTERED SAVINGS BANK,
 SAVINGS AND LOAN ASSOCIATION, STATE OR FEDERALLY CHARTERED SAVINGS BANKS
 AND SAVINGS AND LOAN ASSOCIATIONS, FARM CREDIT  SYSTEM  INSTITUTION,  OR
 STATE OR FEDERALLY CHARTERED COMMERCIAL BANKS OR TRUST COMPANIES AUTHOR-
 IZED TO DO BUSINESS IN THIS STATE.
   (D)  "PROJECT"  SHALL MEAN THE ARCHITECTURAL AND ENGINEERING SERVICES,
 PLANS AND SPECIFICATIONS, INCLUDING WATERSHED BASED OR INDIVIDUAL  AGRI-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD09279-01-1

 A. 5302                             2
 
 CULTURAL  NONPOINT  SOURCE  POLLUTION  ASSESSMENTS, CONSULTANT AND LEGAL
 SERVICES, CONSTRUCTION, AND OTHER DIRECT EXPENSES RELATED TO IMPLEMENTA-
 TION OF A FARM OPERATION'S CERTIFIED NUTRIENT MANAGEMENT PLAN.
   3.  THE  CORPORATION  IS HEREBY AUTHORIZED TO ENTER INTO ANY CONTRACT,
 FINANCING OR LOAN AGREEMENT, OR OTHER INSTRUMENT IN  CONNECTION  WITH  A
 LOAN MADE BY A LENDER TO A FARM OPERATOR FOR A PROJECT.
   4.  IN  ORDER  TO  EFFECTUATE THE PURPOSES OF THIS SECTION, THE CORPO-
 RATION MAY EXTEND CREDIT TO OR ON BEHALF OF  A  FARM  OPERATOR  FOR  THE
 CONSTRUCTION  OR  ACQUISITION OF A PROJECT, OR FOR THE REIMBURSEMENT FOR
 COSTS INCURRED BY A FARM OPERATOR IN CONNECTION WITH A PROJECT, PROVIDED
 SUCH FARM OPERATOR HAS RECEIVED A COMMITMENT TO RECEIVE FROM A LENDER  A
 LOAN OR OTHER FINANCIAL ASSISTANCE ACCEPTABLE TO THE CORPORATION. IN THE
 EXERCISE  OF  THE  POWERS  GRANTED  IN THIS SECTION IN CONNECTION WITH A
 PROJECT FOR A FARM OPERATOR, THE CORPORATION MAY REQUIRE  THE  INCLUSION
 IN  ANY  CONTRACT, LOAN AGREEMENT OR OTHER INSTRUMENT OF SUCH PROVISIONS
 FOR THE FINANCING OF SUCH PROJECT AND SUCH  OTHER  FINANCIAL  AND  OTHER
 COVENANTS  AS  MAY  APPLY  TO SUCH FARM OPERATORS AS THE CORPORATION MAY
 DEEM DESIRABLE AND/OR APPROPRIATE AND TO  DO  ALL  THINGS  NECESSARY  TO
 EXECUTE ANY INSTRUMENT IN CONNECTION AND DESIRABLE WITH SUCH FINANCING.
   5.  IN  CONNECTION  WITH  THE  ISSUANCE  OF ANY BOND OR NOTE ISSUED IN
 CONNECTION WITH OR FOR THE CONCENTRATED ANIMAL FEEDING  OPERATION  ENVI-
 RONMENTAL COMPLIANCE REVOLVING LOAN PROGRAM, THE CORPORATION MAY FIX AND
 COLLECT ANY FEES AND CHARGES, INCLUDING BUT NOT LIMITED TO REIMBURSEMENT
 OF  ALL  COSTS  OF  FINANCING INCURRED BY THE CORPORATION, AS THE CORPO-
 RATION SHALL DETERMINE TO BE REASONABLE.
   6. IN CONNECTION WITH THE EXTENSION OF CREDIT AND THE  ISSUANCE  OF  A
 BOND  OR  NOTE  FOR  THE  CONSTRUCTION  OR  ACQUISITION  OF A PROJECT AS
 PROVIDED IN THIS SECTION, A FARM OPERATOR SHALL  SUBMIT  TO  THE  CORPO-
 RATION AN APPLICATION FOR THE EXTENSION OF CREDIT OR A LOAN.  THE CORPO-
 RATION  MAY DENY SUCH APPLICATION FOR ANY REASON IT DEEMS APPROPRIATE IN
 THE PUBLIC INTEREST.
   7. ANY BONDS OR NOTES ISSUED TO FINANCE THE PROVISIONS OF THIS SECTION
 SHALL BE SPECIAL LIMITED OBLIGATIONS OF THE CORPORATION  PAYABLE  SOLELY
 OUT  OF  THE  REVENUE  DERIVED  FROM ANY LOAN OR FINANCE AGREEMENT, DEBT
 OBLIGATION OR SALES CONTRACT, COLLATERAL OR OTHER PROPERTY  RECEIVED  IN
 CONNECTION  WITH THE CONCENTRATED ANIMAL FEEDING OPERATION ENVIRONMENTAL
 COMPLIANCE REVOLVING LOAN PROGRAM. ALL ASSETS  AND  LIABILITIES  CREATED
 THROUGH THE ISSUANCE OF BONDS OR NOTES UNDER THIS SECTION SHALL BE SEPA-
 RATE  FROM  ALL  OTHER  ASSETS  AND  LIABILITIES OF THE CORPORATION. THE
 CORPORATION SHALL HAVE NO MORAL OR LEGAL OBLIGATION OR LIABILITY TO  ANY
 FARM  OPERATOR  OR  OTHER  PERSON UNDER THIS SECTION EXCEPT AS EXPRESSLY
 PROVIDED BY WRITTEN CONTRACT. NO FUNDS IN THE CONCENTRATED ANIMAL  FEED-
 ING  OPERATION  ENVIRONMENTAL  COMPLIANCE  REVOLVING LOAN PROGRAM MAY BE
 COMMINGLED WITH ANY OTHER FUNDS OF THE CORPORATION.
   8. (A) THE CORPORATION  SHALL  PROMULGATE  REGULATIONS,  DEVELOPED  IN
 CONSULTATION  WITH  THE COMMISSIONER OF AGRICULTURE AND MARKETS, FOR THE
 PURPOSE OF CARRYING OUT ITS RESPONSIBILITIES UNDER THIS SECTION, INCLUD-
 ING ESTABLISHING THE CRITERIA AND STANDARDS FOR EVALUATING  THE  PROJECT
 TO BE FINANCED AND THE ELIGIBILITY OF THE FARM OPERATOR.
   (B) THE CORPORATION SHALL CONSULT WITH THE COMMISSIONER OF AGRICULTURE
 AND  MARKETS  REGARDING  PROMOTION  OF  THE  PROGRAM  AND AGRICULTURALLY
 RELATED QUESTIONS REGARDING THE PROGRAM OR APPLICATIONS.
   § 2. Paragraph (a) of subdivision 1 of  section  1290  of  the  public
 authorities  law,  as  amended  by  chapter  366 of the laws of 2004, is
 amended to read as follows:

 A. 5302                             3
 
   (a) The corporation shall have power and  is  hereby  authorized  from
 time  to  time to issue its negotiable or non-negotiable bonds and notes
 in conformity with applicable provisions of the uniform commercial  code
 in  such  principal amount, as, in the opinion of the corporation, shall
 be  necessary  to  provide  sufficient funds for achieving its purposes,
 including the acquisition and construction, operation and maintenance of
 sewage treatment works, sewage collecting systems, solid waste  disposal
 facilities, storm water collecting systems, water management facilities,
 air  pollution control facilities, the removal, disposal and remediation
 of petroleum storage tanks and the remediation of the sites thereof  and
 any  other  project or projects authorized pursuant to the provisions of
 this title, and paying the cost thereof; the making of loans to  persons
 and,  for  purposes  of  sections  twelve  hundred eighty-five-j, twelve
 hundred eighty-five-m and twelve hundred  eighty-five-o  of  this  title
 only,  to any municipality or recipient for such purposes; the making of
 loans, providing of financing or extension of credit to or on behalf  of
 beginning  farmers  for purposes of section twelve hundred eighty-five-r
 of this title only; THE MAKING OF  LOANS,  PROVIDING  OF  FINANCING,  OR
 EXTENSION OF CREDIT TO OR ON BEHALF OF CONCENTRATED ANIMAL FEEDING OPER-
 ATION  ENVIRONMENTAL  COMPLIANCE  REVOLVING LOAN PROGRAM FOR PURPOSES OF
 SECTION TWELVE HUNDRED EIGHTY-FIVE-V OF THIS TITLE ONLY;  the  financing
 of  the  design, acquisition, construction, improvement and installation
 of all or any portion of Riverbank Park, provided however, that any such
 bonds or notes issued to finance Riverbank Park shall only be issued  in
 such  principal amount as shall be necessary to provide sufficient funds
 for the repayment of amounts disbursed  pursuant  to  appropriations  or
 reappropriations  under  chapter  fifty-four  of  the  laws  of nineteen
 hundred ninety-one including any subsequent reappropriation of the unex-
 pended balance  of  such  appropriations  or  reappropriations  for  the
 purpose  of  Riverbank  Park, plus an amount sufficient to fund any debt
 service reserve fund established by the corporation for the  purpose  of
 Riverbank  Park and to provide for the payment of fees and other charges
 and expenses of the corporation in connection with such bonds and notes,
 which principal amount shall constitute the  statutory  ceiling  on  the
 amount  of  bonds  and  notes  that  can be issued for such purpose; the
 financing of all or any portion of any state park infrastructure project
 or reimbursement of the state for expenditures relating thereto, plus an
 amount to provide for the payment of fees and other charges and expenses
 of the  corporation  in  connection  with  such  bonds  and  notes;  the
 provision  of  funds  to  the state for any amounts contributed or to be
 contributed to the water pollution control revolving fund, the  pipeline
 for  jobs  fund  or the drinking water revolving fund provided, however,
 that any such bonds or notes  issued  to  provide  funds  to  the  water
 pollution  control  revolving  fund,  the  pipeline for jobs fund or the
 drinking water revolving fund shall only be  issued  in  such  principal
 amount  as shall be necessary to provide sufficient funds for the repay-
 ment of amounts disbursed pursuant to any appropriation  or  reappropri-
 ation  enacted  for the pipeline for jobs fund or for the payment of the
 state match for federal capitalization grants for  the  water  pollution
 control  revolving  fund  or  the drinking water revolving fund, plus an
 amount sufficient to fund any debt service reserve fund and  to  provide
 for  fees,  charges  and other costs of issuance, which principal amount
 shall constitute the statutory ceiling on the amount of bonds and  notes
 that  can be issued for such purpose; the financing of any environmental
 infrastructure projects authorized by  section  twelve  hundred  eighty-
 five-p  of  this  title;  the purchase of municipal bonds and notes, and

 A. 5302                             4
 
 bonds and notes of a state agency,  the  payment  of  the  cost  of  any
 project,  the payment of interest on bonds and notes of the corporation,
 the establishment of reserves  to  secure  such  bonds  and  notes;  the
 provision  of  working  capital and all other expenditures of the corpo-
 ration incident to and necessary or convenient to carry out its purposes
 and powers;
   § 3. Paragraph (c) of subdivision 1 of  section  1290  of  the  public
 authorities  law,  as  amended  by  chapter  366 of the laws of 2004, is
 amended to read as follows:
   (c) Except as may otherwise be expressly provided by the  corporation,
 every  issue  of  its notes or bonds shall be (i) general obligations of
 the corporation payable out of any revenues  or  monies  of  the  corpo-
 ration,  subject  only  to any agreements with the holders of particular
 notes or bonds  pledging  any  particular  receipts  or  revenues,  (ii)
 special obligations of the corporation payable solely from the revenues,
 service  charges,  rentals, proceeds or other payments to be received on
 account of the mortgage, loan or other agreements and payments,  reserve
 and  insurance  funds  or  accounts issuance of special obligations, and
 fees, charges or other monies to  be  received  by  the  corporation  in
 respect  to  loans  pursuant  to section twelve hundred eighty-five-b or
 twelve hundred eighty-five-j of this title, or from amounts received  by
 the  corporation  pursuant  to any contract, lease, easement, license or
 other instrument entered into by the corporation  pursuant  to  sections
 twelve  hundred  eighty-five-k  and twelve hundred eighty-five-l of this
 title or, (iii) special obligations of the  corporation  payable  solely
 from  amounts received pursuant to an agreement with the commissioner of
 environmental conservation pursuant to  subdivision  twelve  of  section
 twelve  hundred  eighty-five-j  of this title, and may, but need not, be
 secured by mortgages, assignments or pledges of such  revenues,  service
 charges,  rentals,  proceeds,  other payments, funds and accounts, fees,
 charges and other monies, and by mortgages  or  assignments  thereof  in
 respect  to  projects, and may include pooled financings subject only to
 any agreements with the holders of particular special  obligation  notes
 or  bonds  issued  to  finance  the  cost of, or loans for, a project or
 projects; no general obligations of the corporation shall be  issued  to
 finance  the  cost of, or loans for, a project or projects authorized to
 be constructed pursuant  to  section  twelve  hundred  eighty-five-b  or
 twelve  hundred  eighty-five-j  of  this  title  or  to  finance (A) the
 contribution of the state to the water pollution control revolving fund,
 (B) the design, acquisition, construction, improvement and  installation
 of all or any portion of Riverbank Park or (C) state park infrastructure
 projects  and  no  funds, monies, revenues or other assets of the corpo-
 ration shall be used for loans authorized  pursuant  to  section  twelve
 hundred  eighty-five-b  or  twelve  hundred eighty-five-j of this title,
 except as may be available with respect to a project and a contract with
 a person as aforesaid, or for the  payment  to  the  state  for  amounts
 contributed  by the state to the water pollution control revolving fund,
 to  finance  the  design,  acquisition,  construction,  improvement  and
 installation  of  all  or  any  portion  of Riverbank Park or state park
 infrastructure projects. Nor shall  any  special  obligation  authorized
 pursuant  hereto  be payable from or secured by any debt service reserve
 fund created pursuant to  section  twelve  hundred  ninety-one  of  this
 title,  and the state shall not be entitled to require the redemption of
 such special obligations pursuant to section twelve hundred ninety-three
 of this title; and such special obligation  and  the  security  therefor
 shall  not  be subject to the provisions of section twelve hundred nine-

 A. 5302                             5
 
 ty-four of this title but the remedies of the holders thereof  shall  be
 set  forth  in the terms of such special obligations and the instruments
 constituting such security; the making of loans, providing of  financial
 or extension of credit to or on behalf of beginning farmers for purposes
 of  section  twelve hundred eighty-five-r of this title only; THE MAKING
 OF LOANS, PROVIDING OF FINANCING, OR EXTENSION OF CREDIT TO OR ON BEHALF
 OF FARM OPERATORS FOR THE PURPOSES OF  SECTION  TWELVE  HUNDRED  EIGHTY-
 FIVE-V OF THIS TITLE ONLY;
   § 4. This act shall take effect on the one hundred twentieth day after
 it shall have become a law.