Loading chat...
NY A05820
Bill
Status
3/6/2013
Primary Sponsor
Steven Englebright
Click for details
AI Summary
-
Municipalities may establish green loans programs through local law or ordinance to finance residential solar and wind energy system installations and energy efficiency improvements using federal grants and other available funds.
-
Loans for solar and wind systems must be repaid through twenty equal annual charges imposed on residential real property taxes at a fixed interest rate set at time of loan issuance.
-
Loans for energy efficiency improvements must be repaid annually at a rate equal to the annual energy savings achieved, with payments collected alongside municipal real property taxes at a fixed interest rate.
-
Property owners are restricted to receiving only one green loan from any municipality under this program.
Legislative Description
Authorizes counties, cities, towns and villages to establish green loans programs to provide financing to residential property owners for the purchase and installation of solar energy generating systems and/or wind energy generating systems on such property, and/or for the costs of the performance of an energy efficiency analysis of the dwelling on such property and the completion of energy efficiency improvements upon such dwelling by a licensed contractor; such loans shall be repaid from an annual tax levy on the property; a property owner shall be eligible for only one such loan.
Last Action
referred to energy
1/8/2014