S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1103
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2023
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 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
 DESIGNATIONS  SUCH AS CITIES, MUNICIPALITIES, BLOCK NUMBERING AREAS, AND
 CENSUS TRACTS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01961-02-3
              

 S. 1103                             2
 
   (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;
   (B)  CUSTOM  MEASURES  THAT  PAY  FOR  THEMSELVES IN TEN YEARS THROUGH
 REDUCED ENERGY USE;
 S. 1103                             3
 
   (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 (p) 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[.];
   (P) 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.