NY State Senate Bill 2021-S8853

Senate Bill S8853

2021-2022 Legislative Session

Establishes the resilient New York revolving loan program and the resilient New York revolving loan fund

download bill text pdf

Archive: Last Bill Status - In Senate Committee Rules 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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 03, 2022	committed to rules
May 11, 2022	advanced to third reading
May 10, 2022	2nd report cal.
May 09, 2022	1st report cal.1137
Apr 25, 2022	referred to veterans, homeland security and military affairs

Votes

- May 9, 2022 - Veterans, Homeland Security And Military Affairs Committee Vote
  S8853
  
  8
  
  Aye
  
  0
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Veterans, Homeland Security And Military Affairs Committee Vote: May 9, 2022
      
      aye (8)
      
      Addabbo Jr.
      
      Brooks
      
      Harckham
      
      Jordan
      
      Reichlin-Melnick
      
      Ritchie
      
      Sanders Jr.
      
      Serrano
      
      aye wr (1)
      
      Weik

co-Sponsors

2021-S8853 (ACTIVE) - Details

See Assembly Version of this Bill:: A10325
Current Committee:: Senate Rules
Law Section:: Executive Law
Laws Affected:: Add §29-l, Exec L; add §99-pp, St Fin L
Versions Introduced in 2023-2024 Legislative Session:: S2837, A3782

2021-S8853 (ACTIVE) - Summary

Establishes the resilient New York revolving loan program and the resilient New York revolving loan fund to provide low or no-interest loans to municipalities, not-for-profit organizations, and individual property owners for hazard mitigation and resilience projects; provides funding from federal STORM Act.

2021-S8853 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S8853

SPONSOR: BRESLIN
 
TITLE OF BILL:

An act to amend the executive law, in relation to the resilient New York
revolving loan program; and to amend the state finance law, in relation
to establishing the resilient New York revolving loan fund

 
PURPOSE OR GENERAL IDEA OF BILL:

The bill creates a revolving loan program to finance natural hazard
mitigation projects by amending the Executive and state Finance law.

 
SUMMARY OF PROVISIONS:

Section 1. This section establishes the loan program by creating a new
section, 29.1, the New York Resilient Revolving Loan Program.

The section describes how the loan program can be used to meet the non-
federal match requirement for federal grant funded projects

This section describes how loans can be made to property owners to
finance the execution of building level natural hazard mitigation
projects for wind, earthquake, fire and flood.

This section describes a low to moderate income forgivability parameters
based on income levels and numbers of individuals in a household.

This section describes the processes to provide a forgivable loan to
income disadvantaged property owners.

This section directs the Office of Emergency Management to establish an
application procedure for the loans.

This section describes the processes for the state to get a loan program
capitalization grant from FEMA to establish the program.

Section 2. This section amends the state finance law by the creation of
a new section, 99-pp. This section identifies the custody of the New
York Resilient Revolving Loan Program by the Office of the State Comp-
troller and the Division of Homeland Security and emergency services.

Section 3. Effective Date.

 
JUSTIFICATION:

The changing climate is resulting in sea level rise and more frequent
and more intense storm events. As a result, natural hazard risks of
flood, wind and fire are increasing. The increase in risk and actual
damaging events are resulting in increasing damages to our communities
and large numbers of insurance claims. The increasing risk is resulting
in insurance rates increasing beyond the capability of families to
afford. New York State has hundreds of thousands of older high flood
risk buildings in FEMA flood zones that must be retro fitted, elevated
or dry flood proofed in order to become flood resilient. The execution
of hazard risk reduction projects reduces hazard risk and insurance
premium rates. The mitigation projects employ professional architects

and structural engineers and all of the professional construction
trades.

 
PRIOR LEGISLATIVE HISTORY:

New Bill

 
FISCAL IMPLICATIONS FOR STATE LOCAL GOVERNMENTS:

None

 
EFFECTIVE DATE:
Immediately

2021-S8853 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8853
 
                             I N  S E N A T E
 
                              April 25, 2022
                                ___________
 
 Introduced  by Sens. BRESLIN, HELMING -- read twice and ordered printed,
   and when printed to be committed to the Committee on  Veterans,  Home-
   land Security and Military Affairs
 
 AN ACT to amend the executive law, in relation to the resilient New York
   revolving  loan  program;  and  to  amend  the  state  finance law, in
   relation to establishing the resilient New York revolving loan fund

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The executive law is amended by adding a new section 29-l
 to read as follows:
   § 29-L. RESILIENT NEW YORK REVOLVING LOAN PROGRAM.   1. THE  DIVISION,
 IN  CONJUNCTION WITH THE COMPTROLLER, SHALL ESTABLISH AND ADMINISTER THE
 RESILIENT NEW YORK REVOLVING LOAN PROGRAM AS PROVIDED IN THIS SECTION.
   2. (A) THE RESILIENT NEW YORK REVOLVING LOAN PROGRAM SHALL PROVIDE LOW
 OR NO-INTEREST LOANS TO MUNICIPALITIES AND NOT-FOR-PROFIT  ORGANIZATIONS
 FOR HAZARD MITIGATION AND RESILIENCE PROJECTS, INCLUDING BUT NOT LIMITED
 TO, BUILDING RESILIENT INFRASTRUCTURES AND COMMUNITIES, FLOOD MITIGATION
 ASSISTANCE, FLOOD RISK REDUCTION PROJECTS SUCH AS LEVEES, CLOSURES, PUMP
 STATIONS  AND  NON-STRUCTURAL  PROJECTS LIKE ELEVATION AND WET/DRY FLOOD
 PROOFING OR ANY ADAPTION OR MITIGATION  PROJECTS  INCLUDED  PURSUANT  TO
 SECTION 54-1523 OF THE ENVIRONMENTAL CONSERVATION LAW.
   (B) LOANS MAY ALSO BE GRANTED TO INDIVIDUAL PROPERTY OWNERS TO PROVIDE
 THE FINANCING FOR NATURAL HAZARD MITIGATION PROJECTS SUCH AS WIND RETRO-
 FITS, FLOOD MITIGATION ELEVATION AND WET OR DRY FLOOD-PROOFING PROJECTS,
 FIRE  MITIGATION  RETROFIT  PROJECTS, AND EARTHQUAKE RETROFIT MITIGATION
 PROJECTS. THESE LOANS MAY BE ATTACHED TO PROPERTY  TAXES,  ALLOWING  FOR
 THE  PROPERTY  TO  BE SOLD SO LONG AS THE NEW OWNER AGREES TO ASSUME THE
 DEBT OBLIGATION.
   (C) LOANS PROVIDED UNDER THIS SECTION MAY BE USED TO SATISFY THE  NON-
 FEDERAL MATCH FOR FEDERAL MITIGATION GRANTS.
   3. (A) THE DIVISION SHALL, TAKING INTO CONSIDERATION REQUIREMENTS FROM
 THE STORM ACT, ESTABLISH APPLICATION PROCEDURES AND ELIGIBILITY CRITERIA
 FOR  LOANS  FROM  THE RESILIENT NEW YORK REVOLVING LOAN FUND ESTABLISHED
 PURSUANT TO SECTION NINETY-NINE-OO OF THE STATE FINANCE LAW. THE  ELIGI-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD14931-01-2
 S. 8853                             2
 
 BILITY CRITERIA SHALL REQUIRE THAT MUNICIPALITIES, NOT-FOR-PROFIT ORGAN-
 IZATIONS, AND INDIVIDUAL PROPERTY OWNER APPLICANTS DEMONSTRATE:
   (1) A NEED FOR A LOAN TO ADDRESS HAZARD MITIGATION; AND
   (2) THE ABILITY TO REPAY THE LOAN, IF REQUIRED, AT A LATER DATE.
   (B) LOANS PROVIDED PURSUANT TO THIS SECTION SHALL BE FOR A FIXED PERI-
 OD.
   (C) THE LOAN PROGRAM SHALL ALSO PROVIDE GRADUATED FORGIVABILITY AVAIL-
 ABLE  TO  ELIGIBLE INDIVIDUAL PROPERTY OWNER RECIPIENTS THAT SHALL, AT A
 MINIMUM:
   (1) PROVIDE FULL LOAN FORGIVENESS FOR ELIGIBLE HOUSEHOLDS WITH  INCOME
 BETWEEN  EIGHTY  PERCENT AND FIFTY PERCENT OF THE AREA MEDIAN INCOME FOR
 THE AREA IN WHICH THE PROPERTY TO WHICH THE LOAN APPLIES, IS LOCATED.
   (2) PROVIDE FIFTY PERCENT LOAN  FORGIVENESS  FOR  ELIGIBLE  HOUSEHOLDS
 WITH  INCOME  EQUAL TO EIGHTY PERCENT TO ONE HUNDRED PERCENT OF THE AREA
 MEDIAN INCOME FOR THE AREA IN WHICH  THE  PROPERTY  TO  WHICH  THE  LOAN
 APPLIES, IS LOCATED.
   (3)  PROVIDE  ADDITIONAL FORGIVABILITY PERCENTAGES FOR HOUSEHOLDS WITH
 INCOMES NOT WITHIN THOSE ADDRESSED IN THIS PARAGRAPH MAY BE  APPLIED  BY
 THE DIVISION BASED ON:
   I.  THE  NUMBER OF ELIGIBLE INDIVIDUAL RECIPIENTS PARTICIPATING IN THE
 PROGRAM AUTHORIZED UNDER THIS SECTION;
   II. THE AVAILABILITY OF FUNDING; AND
   III. ANY OTHER FACTOR THAT THE DIVISION FINDS  REASONABLE  AND  NECES-
 SARY.
   4.  SUCH  PROGRAM  SHALL  BE  IN ADDITION TO ANY FUNDS PROVIDED BY THE
 FEDERAL GOVERNMENT AND EXPENDED OR PROVIDED  THROUGH  THE  DIVISION  FOR
 DISASTER RECOVERY AND RELIEF.
   5.  (A)  THE  COMMISSIONER  SHALL  SUBMIT  TO  FEMA AN APPLICATION FOR
 CAPITALIZATION GRANT FUNDING, TOGETHER WITH ALL REQUIRED  PROPOSALS  AND
 INFORMATION REQUIRED PURSUANT TO THE STORM ACT OR REGULATIONS PROMULGAT-
 ED THERETO.
   (B)  UPON  APPROVAL OF SUCH APPLICATION, THE DIVISION SHALL ENTER INTO
 AN AGREEMENT WITH FEMA TO DEPOSIT THE CAPITALIZATION GRANT FUNDING  INTO
 THE RESILIENT NEW YORK REVOLVING LOAN FUND.
   6.  FOR  THE  PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE
 THE FOLLOWING MEANINGS:
   (A) "CAPITALIZATION GRANT" MEANS FUNDS PROVIDED BY FEMA TO THE DEPART-
 MENT FOR THE ESTABLISHMENT OF THE RESILIENT NEW YORK REVOLVING LOAN FUND
 IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5135(F) OF THE STORM ACT.
   (B) "COMMISSIONER" MEANS THE COMMISSIONER OF THE DIVISION OF  HOMELAND
 SECURITY AND EMERGENCY SERVICES.
   (C)  "DIVISION"  MEANS THE DIVISION OF HOMELAND SECURITY AND EMERGENCY
 SERVICES.
   (D) "FEMA" MEANS THE FEDERAL EMERGENCY MANAGEMENT ADMINISTRATION.
   (E) "STORM ACT" MEANS THE FEDERAL "SAFEGUARDING TOMORROW THROUGH ONGO-
 ING RISK MANAGEMENT ACT", 42 U.S.C. SECTION 5135  ET  SEQ.,  ENACTED  BY
 PUBLIC  LAW 116-284, AND APPROVED ON JANUARY FIRST, TWO THOUSAND TWENTY-
 ONE.
   § 2. The state finance law is amended by adding a new section 99-pp to
 read as follows:
   § 99-PP. RESILIENT NEW YORK REVOLVING LOAN FUND.  1. THERE  IS  HEREBY
 ESTABLISHED  IN  THE  JOINT  CUSTODY  OF  THE  STATE COMPTROLLER AND THE
 COMMISSIONER OF THE DIVISION OF HOMELAND SECURITY AND EMERGENCY SERVICES
 A SPECIAL FUND TO BE KNOWN AS THE "RESILIENT  NEW  YORK  REVOLVING  LOAN
 FUND"  TO  BE  ADMINISTERED  IN ACCORDANCE WITH THIS SECTION AND SECTION
 TWENTY-NINE-L OF THE EXECUTIVE LAW.
 S. 8853                             3
 
   2. THE FUND SHALL CONSIST OF ALL MONEYS APPROPRIATED FOR ITS  PURPOSE,
 ALL  MONEYS TRANSFERRED TO SUCH FUND PURSUANT TO LAW, ALL MONEY RECEIVED
 FROM FEMA UNDER THE STORM ACT, ANY REPAYMENTS OF PRINCIPAL AND  INTEREST
 FROM THE RESILIENT NEW YORK REVOLVING LOAN PROGRAM ADMINISTERED PURSUANT
 TO  SECTION  TWENTY-NINE-L  OF  THE  EXECUTIVE LAW, AND ALL OTHER MONEYS
 REQUIRED BY THIS SECTION OR ANY OTHER LAW TO BE PAID INTO OR CREDITED TO
 THIS FUND.
   3. MONEYS IN SUCH FUND SHALL BE KEPT SEPARATE FROM AND  SHALL  NOT  BE
 COMMINGLED  WITH  ANY  OTHER MONEYS IN THE CUSTODY OF THE COMPTROLLER OR
 THE COMMISSIONER OF TAXATION AND FINANCE.  ANY MONEYS OF  THE  FUND  NOT
 REQUIRED FOR IMMEDIATE USE MAY, AT THE DISCRETION OF THE COMPTROLLER, IN
 CONSULTATION  WITH  THE DIRECTOR OF THE BUDGET, BE INVESTED BY THE COMP-
 TROLLER IN OBLIGATIONS OF THE UNITED STATES OR THE STATE,  OR  IN  OBLI-
 GATIONS THE PRINCIPAL AND INTEREST ON WHICH ARE GUARANTEED BY THE UNITED
 STATES  OR  BY  THE  STATE.  ANY INCOME EARNED BY THE INVESTMENT OF SUCH
 MONEYS SHALL BE ADDED TO AND BECOME A PART OF AND SHALL BE USED FOR  THE
 PURPOSES OF SUCH FUND.
   4.  MONEY  EXPENDED FROM SUCH FUND SHALL BE USED TO SUPPLEMENT AND NOT
 SUPPLANT OR REPLACE  ANY  OTHER  AVAILABLE  RECOVERY  OR  RELIEF  FUNDS,
 INCLUDING  FEDERAL  OR  STATE  FUNDING,  WHICH WOULD OTHERWISE HAVE BEEN
 EXPENDED FOR REIMBURSEMENT OR  APPROPRIATED  TO  LOCAL  GOVERNMENTS  FOR
 NATURAL HAZARD MITIGATION OR RESILIENCE PROJECTS.
   5. THE MONIES OF THE FUND SHALL BE PAID OUT, WITHOUT APPROPRIATION, ON
 THE  AUDIT AND WARRANT OF THE STATE COMPTROLLER ON VOUCHERS CERTIFIED OR
 APPROVED BY THE COMMISSIONER OF THE DIVISION OF  HOMELAND  SECURITY  AND
 EMERGENCY SERVICES AS PROVIDED IN SECTION TWENTY-NINE-L OF THE EXECUTIVE
 LAW. THE COMPTROLLER SHALL, IN CONSULTATION WITH THE COMMISSIONER OF THE
 DIVISION OF HOMELAND SECURITY AND EMERGENCY SERVICES, PRESCRIBE BY REGU-
 LATION  THE  MANNER  IN WHICH MONEYS OF THE FUND SHALL BE DISTRIBUTED TO
 ELIGIBLE APPLICANTS.
   § 3. This act shall take effect immediately.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Senate Bill S8853

Share this bill

Sponsored By

Neil D. Breslin