Bill > S02167

This bill creates a hospital and multiple dwelling energy loan program to help reduce high energy costs for hospitals and multiple dwellings in New York State. The program, administered by the New York State Urban Development Corporation in cooperation with the New York State Energy Research and Development Authority, will provide zero or low-interest loans and loan interest rate reductions for energy efficiency projects. To be eligible, hospitals and multiple dwellings must first complete an energy audit and identify specific improvement projects. The program prioritizes areas with economic distress, mandating that at least 60% of loan funds go to facilities in economically distressed areas. Eligible improvements include cost-effective energy reduction measures, process improvement measures, and renewable technologies like solar, wind, and geothermal. Loans will be limited to $100,000, and interest rate reductions can be up to 4% for up to 10 years. The corporations involved will be required to submit an annual report detailing the number of facilities assisted, types of improvements implemented, and energy cost savings realized. The bill aims to provide fiscal relief and encourage energy efficiency across hospital and residential settings in New York State.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S2167