Bill > A10509

This bill establishes an "energy project revolving loan program" and a corresponding "energy project revolving loan fund" to promote the development of renewable energy projects. The program will offer zero-percent or low-interest loans to eligible entities, defined as public, not-for-profit, or utility organizations proposing "zero-emission energy generation projects" (projects that produce energy without releasing harmful emissions). These loans will be used for capital costs associated with these projects. The selection process will involve a competitive request for proposals, with decisions based on a cost-benefit analysis comparing the project's potential benefits to the state and its residents against the scenario where the project doesn't happen, and also considering the likelihood of the project's successful completion. Loans will be repaid to the fund, and recipients must secure permanent financing from other sources within five years. Projects funded under this program will be considered "public work" and must adhere to specific labor laws, including the use of project labor agreements and apprenticeships. The "energy project revolving loan fund" will be a special fund managed by the state comptroller and commissioner of taxation and finance, and will consist of appropriated money and loan repayments.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A10509