BILL NUMBER: S9322
SPONSOR: HARCKHAM
 
TITLE OF BILL:
An act to amend the environmental conservation law, in relation to water
pollution control revolving fund agreements
 
PURPOSE OF THE BILL:
The bill would extend until September 30, 2027 provisions authorizing a
fifty percent subsidy in connection with the State Water Pollution
Control Revolving Fund ("Clean Water State Revolving Fund" or "CWSRF").
 
SUMMARY OF PROVISIONS:
Section 1 of the bill would amend § 17-1909(3)(a) of the Environmental
Conservation Law ("ECL") to extend, from September 30, 2024 to September
30, 2027, the authorization to provide a fifty percent subsidy in
connection with CWSRF financings.
Section 2 of the bill would amend the closing paragraph of §
17-1909(8)(e) of the ECL to extend, from September 30, 2024 to September
30, 2027, the authorization to provide a fifty percent subsidy in
connection with CWSRF financings.
Section 3 of the bill provides for an immediate effective date.
 
JUSTIFICATION:
The Environmental Facilities Corporation ("EFC"), together with the
Department of Environmental Conservation, administers the Clean Water
State Revolving Fund, created by Chapter 565 of the Laws of 1989. The
CWSRF was established to provide financial assistance to recipients,
generally municipalities, to construct and upgrade eligible water
pollution control projects.
In 1992, the interest rate subsidy level was increased from one-third
percent to fifty percent for qualified recipients that aren't eligible
for interest-free financing. This increased subsidy, together with EFC's
interest-free short-term financing program, stimulated communities to
undertake their Clean Water projects. The fifty percent subsidy has
continued to be extremely popular with local governments. With the
recent availability to municipalities of Water Infrastructure Improve-
ment Grants and Intermunicipal Water Infrastructure Grants, the fifty
percent subsidy is even more popular because qualified municipalities
that receive a grant award can pair it with subsidized financing result-
ing in significant savings for the community.
 
PRIOR LEGISLATIVE HISTORY:
Authorization for the fifty percent subsidy was added by Chapter 645 of
the Laws of 1992, and has been extended since that date as follows:
L. 1995, c. 231
L. 1996, c. 447
L. 1998, c. 414
L. 2000, c. 135
L. 2003, c. 148
L. 2006, c. 533
L. 2009, c. 279
L. 2012, c. 65
L. 2015, c. 326
L. 2018, c. 250
L. 2021, c. 259
 
FISCAL IMPLICATIONS:
This bill would have no budget implications to the State.
 
EFFECTIVE DATE:
This bill would take effect immediately.

Statutes affected:
S9322: 17-1909 environmental conservation law, 17-1909(3) environmental conservation law, 17-1909(8) environmental conservation law