NY S06185

Requires the New York State Energy Research and Development Authority to establish a program within six months to track carbon allowance purchases by electric generating facilities and identify their locations and purchase values.

Directs the Authority to spend at least 50 percent of revenue collected from carbon allowances in each county on projects or programs located within that same county, beginning one year after the bill's effective date.

Allows municipal electric corporations, rural cooperatives, and other public power entities that own electric generating facilities to retain up to 50 percent of revenue that would otherwise purchase allowances to implement locally-based carbon dioxide abatement programs, subject to Authority approval.

Authorizes the Authority to promulgate rules and regulations necessary to implement the provisions, provided they are consistent with the bill's timeline and legislative intent.

Takes effect immediately upon passage.