Bill > S01031

This bill modifies how costs and expenses of the New York Department of Public Service and Public Service Commission are handled, focusing on transparency and ratepayer protection related to environmental regulations. The bill directs the Public Service Commission to develop a formula that calculates the average per-ratepayer cost of complying with Article 75 of the Environmental Conservation Law, which likely relates to emissions reduction goals. Starting March 1, 2026, the commission must publicly disclose the costs of any orders, rules, or regulations issued to meet these environmental objectives. The bill also introduces a new tax credit for individual taxpayers with annual incomes up to $250,000 to help offset the implementation costs of these environmental regulations. For both individual and corporate taxpayers, the tax credit can be carried forward for up to five years if it exceeds the current year's tax liability, and for individual taxpayers beginning in 2027, any excess credit can be refunded without interest. The bill repeals certain existing provisions related to cost assessments and modifies how these costs will be certified and reimbursed, ultimately aiming to provide more financial transparency and relief for ratepayers impacted by environmental compliance measures.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S1031