NY A08712

Authorizes the Power Authority to allocate unallocated and relinquished expansion or replacement hydroelectric power from the Niagara Project for sale into the wholesale market, with net earnings used for Western New York Economic Development Fund benefits.

Establishes a Western New York Advisory Group to solicit applications and make recommendations for approval of economic development fund benefits for eligible projects within a thirty-mile radius of the Niagara Power Plant.

Defines eligibility criteria for fund benefits including job creation and retention, likelihood of business closure or relocation without assistance, compliance with prior power contracts, and economic viability of identified sites or users.

Requires the Western New York Advisory Group to develop evaluation criteria in consultation with the Power Authority and recommend applicants to receive fund benefits, with provisions for partial or complete withdrawal if recipients fail to maintain agreed-upon commitments.

References a Memorandum of Understanding regarding Western New York Hydropower dated October 22, 2003, as the framework for the Advisory Group's operations under Economic Development Law Section 183(i).