NY A09516

Defines "power purchase agreement" as an agreement where a third-party owner generates electricity from net-metering-eligible energy technologies and sells it to a public agency or municipality at specified prices, volumes, and durations

Authorizes agencies, municipalities, and public authorities to enter into power purchase agreements with terms up to 35 years, provided the duration does not exceed the reasonably expected useful life of the energy facilities

Exempts power purchase agreements from certain contractual requirements and makes them voidable only for non-performance by either party, preventing restrictions on governing bodies binding their successors

Allows agencies and municipalities to lease or license their real property to third-party owners for up to the full term of the power purchase agreement to enable construction and operation of energy facilities

Requires power purchase agreements to comply with procurement rules under General Municipal Law and authorizes the Commissioner of Education to develop safety and building permit regulations for net-metering-eligible energy technologies