NY A05952

Authorizes the Power Authority of the State of New York to issue negotiable bonds to finance repowering projects, qualified energy infrastructure investment projects, or qualified new construction projects at major electric generating facilities.

Defines eligible projects as improvements to existing facilities to meet environmental requirements, investments to deliver new fuel sources or upgrade equipment, or construction of new facilities on the same or adjacent property to achieve environmental compliance.

Requires the Power Authority to conduct competitive solicitations for proposals and rank them using criteria including assistance requested per megawatt of capacity, new capital investment, job creation/retention, closure risk, and competitive advantage within the state.

Mandates the Power Authority to reply to Department of Public Service requests for project summaries within thirty days, including project name, location, description, bond amount, and issuance date.

Takes effect ninety days after becoming law.