Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to energy and telecommunications |
Senate Bill S7906
2023-2024 Legislative Session
Sponsored By
(D, WF) 21st Senate District
Current Bill Status - In Senate Committee Energy And Telecommunications 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
Actions
co-Sponsors
(D, WF) 56th Senate District
(D, WF) 13th Senate District
(D) 32nd Senate District
2023-S7906 (ACTIVE) - Details
- Current Committee:
- Senate Energy And Telecommunications
- Law Section:
- Energy
- Versions Introduced in 2021-2022 Legislative Session:
-
S6584
2023-S7906 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7906 SPONSOR: PARKER TITLE OF BILL: An act directing the New York state energy research and development authority to conduct a study on powering cryptocurrency mining centers with renewable energy PURPOSE OR GENERAL IDEA OF BILL: Directs the New York state energy research and development authority to conduct a study on powering cryptocurrency mining facilities with renew- able energy. SUMMARY OF SPECIFIC PROVISIONS: Section 1. Directs NYSERDA to conduct study, provides definitions, provides what the study shall include, and whom shall the report be delivered to. Section 2. Provides the effective date.
2023-S7906 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7906 I N S E N A T E January 3, 2024 ___________ Introduced by Sens. PARKER, COONEY, RAMOS, SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommunications AN ACT directing the New York state energy research and development authority to conduct a study on powering cryptocurrency mining centers with renewable energy THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. a. The state energy research and development authority is hereby directed to conduct a study on powering cryptocurrency mining centers in New York state. b. For purposes of this act: (i) "cryptocurrency" shall mean a digital currency in which encryption techniques are used to regulate the generation of units and currency and verify the transfer of funds, operating independently from a central bank; (ii) "mining" shall mean the process of spending computer power to process transactions and add such transactions to a cryptocurrencies' blockchain; (iii) "blockchain" shall mean a digital ledger in which transactions made in cryptocurrencies are recorded chronologically and publicly. c. The study shall include, but not be limited to: (i) a survey of existing cryptocurrency mining centers in New York state, and whether and to what extent such centers are powered by renew- able energy; (ii) an evaluation of the economic and technical feasibility of power- ing all cryptocurrency mining centers in the state with renewable energy and the construction of additional facilities powered by renewable ener- gy; (iii) an assessment of the economic impacts on affected communities of powering cryptocurrency mining centers with renewable energy, including impacts on local employment and job creation; and (iv) an evaluation of whether cryptocurrency mining powered by renewa- ble energy could develop into a sustainable industry in the state. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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