BILL NUMBER: S2474A
SPONSOR: PARKER
 
TITLE OF BILL:
An act to amend the public authorities law, in relation to authorizing
the New York state energy research and development authority to adminis-
ter a program to provide funds related to enabling clean hydrogen
projects
 
PURPOSE OR GENERAL IDEA OF BILL:
AN ACT that will authorize New York State Energy research and develop-
ment the ability to create a program to research the validity of
projects and provide funds related to assisting in hydrogen projects to
transition/retrofit fossil fuel facilities.
 
SUMMARY OF PROVISIONS:
1. This act shall be known and may be cited as the "H2 energy 2 scale up
act".
2. Section 1854 of the public authorities' law is amended by adding a 4
new subdivision 27
 
JUSTIFICATION:
This bill will enable the ability to maximize & streamline the
production of clean energy hydrogen projects as determined by the NYSER-
DA to provide and disburse funds that will assist in the timely
completion of these projects.
*Energy Value (LBMP) *Capacity Value (ICAP)
*Demand Reduction Value (DRV)
 
PRIOR LEGISLATIVE HISTORY:
2024: S8455A - COMMITTED TO FINANCE
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
 
EFFECTIVE DATE:
This act shall take effect immediately.

Statutes affected:
S2474: 1854 public authorities law
S2474A: 1854 public authorities law