NY A10093

Establishes the Northern New York Power Proceeds Allocation Board consisting of five members appointed by the Governor, with at least three members residing in St. Lawrence County, to review and recommend allocations of economic development funds.

Creates the Northern New York Economic Development Fund consisting of net earnings from the sale of St. Lawrence County hydroelectric power, with the Power Authority of the State of New York depositing net earnings into the fund quarterly.

Limits the amount of St. Lawrence County economic development power used to generate net earnings to 20 megawatts initially, reducing to 10 megawatts after five years, with at least 15 percent of net earnings dedicated to energy-related projects.

Authorizes the Board to review applications for fund benefits under specified criteria including job creation, capital investment, project necessity, and consistency with regional economic development strategies, and to recommend allocations to eligible projects located in St. Lawrence County.

Defines eligible projects as economic development initiatives including capital investments, transportation, land acquisition, research and development, and tourism marketing, while excluding retail businesses, lobbying, advocacy, and litigation expenses.