Bill > S00734

This bill establishes an energy project revolving loan program designed to support zero-emission energy generation projects in New York State. The program, to be administered by the authority in collaboration with the Green Bank, will provide zero-percent or low-percent interest loans to energy producing entities such as public entities, non-profit organizations, and utilities, including the Power Authority of New York. To receive funding, potential projects must undergo a rigorous cost-benefit analysis to demonstrate their overall benefit to the state and ratepayers. The loans will be funded through a newly created Energy Project Revolving Loan Fund, and recipients must repay the full loan amount upon project completion and secure permanent financing within five years. Additionally, the bill mandates that all eligible energy projects be considered public works, requiring project labor agreements and the use of apprenticeship agreements, ensuring fair labor practices and job training. The program aims to encourage renewable energy development by providing financial assistance that covers operational costs without seeking to generate additional profits, ultimately promoting zero-emission energy generation in New York State.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S734