Bill > S08237

This bill modifies the Green Jobs-Green New York program, which provides loans for energy efficiency improvements, by making several key changes to how on-bill recovery loan agreements work. The bill increases the maximum loan amounts from twenty-five thousand to fifty thousand dollars for residential structures, and adjusts the loan criteria to focus on the useful life of energy efficiency measures rather than a specific payback period. It also introduces a new provision allowing property purchasers to explicitly assume responsibility for remaining on-bill recovery charges through a written agreement, with a fallback mechanism that keeps the original property seller or loan holder responsible for unpaid charges if no such assumption occurs. The bill requires sellers of properties with existing Green Jobs-Green New York loans to provide detailed written notice to prospective buyers about the remaining loan balance, energy efficiency improvements, and charge details, with an exception if the loan agreement includes a clear mechanism for transfer of responsibility. These changes aim to provide more flexibility in loan terms, clarify property transfer obligations, and improve transparency for potential property buyers participating in the energy efficiency loan program.

Agriculture and Natural Resources, Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S8237