BILL NUMBER: S2167
SPONSOR: COMRIE
 
TITLE OF BILL:
An act to amend the New York state urban development corporation act, in
relation to creating the hospital and multiple dwelling energy loan fund
 
PURPOSE OR GENERAL IDEA OF BILL:
A loan program would be established to expand on existing programs oper-
ated by the New York State Energy Research Development Authority to make
energy audits and energy efficient technology implementation more readi-
ly available to hospitals and multiple dwellings, with at least 60% of
the loan dollars going to economically distressed areas.
 
SUMMARY OF SPECIFIC PROVISIONS:
This bill would establish a hospital and multiple dwelling loan fund to
provide zero or low interest loans up to one hundred thousand dollars
and loan interest rate reductions to hospitals and multiple dwellings,
with at least 60% of the loans going to economically distressed areas,
for energy efficiency projects and advanced energy technologies. In
order to be eligible to participate in this loan program, hospitals and
multiple dwellings must have an energy audit provided through the
NYSERDA's energy audit program to help entities make informed electrical
energy decisions and implement energy efficiency strategies.
 
JUSTIFICATION:
The state's chronically high energy costs can place significant fiscal
stress on hospitals and multiple dwellings. This bill would provide
fiscal relief to hospitals and multiple dwellings by reducing a major
cost in their utility bills. By providing zero or low interest loans to
hospitals and multiple dwellings, this legislation will provide the
capital support necessary to make upgrades more quickly and allow these
facilities to reap the benefits of energy savings.
 
PRIOR LEGISLATIVE HISTORY:
2023-2024: S1103 Comrie/ A1635 Simon
2022: S3515
 
FISCAL IMPLICATIONS:
Subject to appropriations.
 
EFFECTIVE DATE:
Upon enactment of the bill into law.