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A06318 Summary:

BILL NOA06318
 
SAME ASSAME AS S01986
 
SPONSORGriffin (MS)
 
COSPNSRConrad
 
MLTSPNSRStern
 
Amd §3602, Ed L
 
Extends the time period from eighteen years to twenty-five years that a school shall be guaranteed recovery of energy performance contract costs from energy savings incurred by school districts over that time period.
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A06318 Actions:

BILL NOA06318
 
03/04/2025referred to education
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A06318 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A6318
 
SPONSOR: Griffin (MS)
  TITLE OF BILL: An act to amend the education law, in relation to extending the time period for guaranteed recovery of energy performance contract costs from energy savings incurred by school districts   PURPOSE OR GENERAL IDEA OF BILL: This bill extends the recovery time-period for energy performance contracts under the education law, from 18 years to 25 years.   SUMMARY OF PROVISIONS: Section 1. Amends the education law to extend the statutory recovery time limit of energy performance contracts from 18 years to 25 years. Section 2. Effective Date   JUSTIFICATION: Energy performance contracts are successful way for school districts to lower their costs while improving efficiency. Energy performance contracts use the projected savings from the performance contract to pay for the project/upgrade. Upgrading or replacing a system is often significantly cheaper than continuing to pay the previous energy costs, but schools sometimes struggle to pay the upfront costs of energy upgrades. Current state law requires that energy performance contracts must guar- antee the recovery of contract costs from recovery savings during the term of the contract, which currently may not exceed 18 years. This legislation would allow recovery period of the contracts to extend for 25 years. This change would have numerous benefits, such as energy efficiency and reducing operating costs, and aligns with the 25 year usefulness period established under federal law. These contracts help schools avoid significant upfront costs and allow for reinvestments over time.   PRIOR LEGISLATIVE HISTORY: 2023-2024: A.6577/9.2699 2021-2022: A.3446/9.6307 2019-2020: A.7771/S.5099   FISCAL IMPLICATIONS: No cost to the state. Will result in cost saving to school districts.   EFFECTIVE DATE: Immediately.
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A06318 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6318
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 4, 2025
                                       ___________
 
        Introduced  by  M. of A. GRIFFIN -- Multi-Sponsored by -- M. of A. STERN
          -- read once and referred to the Committee on Education
 
        AN ACT to amend the education law, in relation  to  extending  the  time
          period  for  guaranteed  recovery of energy performance contract costs
          from energy savings incurred by school districts

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1. Subclause C of clause (i) of subparagraph 5 of paragraph i
     2  of subdivision 6 of section 3602 of the education  law,  as  amended  by
     3  section  1  of  part F of chapter 383 of the laws of 2001, is amended to
     4  read as follows:
     5    C. The energy  performance  contractor  shall  guarantee  recovery  of
     6  contract  costs  from  energy  savings  realized  by the school district
     7  during the term of the energy  performance  contract,  which  shall  not
     8  exceed [eighteen] twenty-five years.
     9    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04732-01-5
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