Bill > A01266

This bill creates a new hospital and multiple dwelling energy loan program administered by the New York State Urban Development Corporation in partnership with the New York State Energy Research and Development Authority. The program aims to help hospitals and multiple dwellings reduce high energy costs by providing zero or low-interest loans and loan interest rate reductions for energy efficiency projects. Eligible entities must first complete an energy audit and can receive funding for improvements such as cost-effective energy reduction measures, process improvement technologies, and renewable energy technologies like solar or wind power. Loans are capped at $100,000, and the program prioritizes economically distressed areas, ensuring that at least 60% of total loan funds are allocated to entities in these regions. The corporation can reduce participating lenders' interest rates by up to 4% for up to 10 years. An annual report will be submitted to legislative leaders detailing the number of hospitals and multiple dwellings assisted, the types of improvements implemented, and the energy cost savings realized. The program is designed to provide fiscal relief and encourage energy efficiency across New York State, with a particular focus on supporting facilities in economically challenged areas.

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https://www.nysenate.gov/legislation/bills/2025/A1266