NY A11522

Extends the expiration date of the power for jobs program and energy cost savings benefits program from June 2, 2010 to June 30, 2011, allowing existing recipients to continue receiving benefits through the extended date.

Creates a new Power Solutions Program effective July 1, 2011 to serve as a successor program, allocating up to 483 megawatts of electricity to eligible businesses, small businesses, and not-for-profit corporations based on established economic development criteria.

Increases the Economic Development Power Allocation Board from 4 to 12 members, with expanded representation including appointments by the governor, assembly speaker and minority leader, senate president pro tempore and minority leader, and the UDC president serving as chairman.

Requires energy audits for all applicants receiving awards under the Power Solutions Program and energy cost savings benefits, to be conducted within two years of contract receipt and paid for by the Power Authority.

Establishes tax credits for utilities delivering power under the Power Solutions Program, with credits equal to net lost revenues from the delivery of such power, and requires annual reporting to the legislature on program performance and economic development outcomes.