A 6064: Limits the municipal sustainable energy loan program to commercial entities, not-for-profit organizations, or entities other than individuals.

  
  STATE OF NEW YORK ________________________________________________________________________ 6064 2025-2026 Regular Sessions  IN ASSEMBLY February 26, 2025 ___________ Introduced by M. of A. HUNTER -- read once and referred to the Committee on Energy AN ACT to amend the general municipal law, in relation to limiting the municipal sustainable energy loan program to entities which are not individuals The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 119-ee of the general municipal law, as added by 2 chapter 497 of the laws of 2009, is amended to read as follows: 3 § 119-ee. Legislative findings and declaration. [The] According to 4 article seventy-five of the environmental conservation law, the legisla- 5 ture finds and declares that it is the policy of the state to achieve 6 statewide energy efficiency and renewable energy goals, reduce green- 7 house gas emissions and mitigate the effect of global climate change, 8 and advance a clean energy economy; and that to achieve such policy and 9 goals the state must promote the deployment of renewable energy systems 10 and energy efficiency measures throughout the state; and that munici- 11 palities would fulfill an important public purpose by providing loans to 12 commercial property owners for the installation of renewable energy 13 systems and energy efficiency measures. 14 § 2. Subdivisions 2 and 6 of section 119-gg the general municipal law, 15 subdivision 2 as added by chapter 497 of the laws of 2009, and subdivi- 16 sion 6 as amended by chapter 320 of the laws of 2017, are amended to 17 read as follows: 18 2. Such program may make loans to the owners of real property that are 19 a commercial entity, not-for-profit organization, or entity other than 20 an individual located within the municipal corporation to finance the 21 installation of renewable energy systems and energy efficiency improve- 22 ments, related energy audits and renewable energy system feasibility 23 studies, and the verification of the installation of such systems and 24 improvements. No municipal corporation shall make such a loan to an EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09827-01-5 
 A. 6064 2 1 owner of property that has received a loan from another municipal corpo- 2 ration pursuant to this article. 3 6. [a. For loans made to an owner of real property that is a commer- 4 cial entity, not-for-profit organization, or entity other than an indi- 5 vidual, the] The municipal corporation shall have the authority to 6 impose requirements on the maximum amount that may be borrowed through 7 such loan, which may consider factors including but not limited to the 8 property value, projected savings, project cost, and existing indebt- 9 edness secured by such property. 10 [b. For loans made to an owner of real property who is an individual, 11 the principal amount of each such loan, excluding interest, shall not 12 exceed the lesser of ten percent of the appraised real property value or 13 the actual cost of installing the renewable energy system and energy 14 efficiency improvements, including the costs of necessary equipment, 15 materials, and labor, the costs of each related energy audit and renewa- 16 ble energy system feasibility study, and the cost of verification of 17 such renewable energy system and energy efficiency improvements.] 18 § 3. This act shall take effect immediately.