Bill > A09224

This bill amends the New York public authorities law to authorize the New York State Energy Research and Development Authority (NYSERDA) to loan money to utility companies specifically for capital expenditures. Under the new provision, NYSERDA can provide these loans at an interest rate no more than one percent above the interest rate of the bonds issued to fund the loans. The term "utility companies" is defined as those utilities regulated by the public service commission. The bill also explicitly authorizes NYSERDA to issue bonds specifically to fund these utility company loans. The legislation will take effect 90 days after becoming law, with immediate authorization for NYSERDA to prepare any necessary regulations in advance of the effective date. This bill appears designed to provide financial support and flexibility for utility companies to make capital investments, potentially helping to improve or expand energy infrastructure in New York State.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A9224