NY S06963

Amends Public Authorities Law by adding Section 1018 to require all authority funds be used exclusively for effectuating declared policy and energy projects, with restrictions on transfers to the State of New York unless funds are used directly for energy projects.

Defines "energy projects" to include infrastructure improvements at electric generating facilities, equipment acquisition, burner/turbine replacement, renewable energy generation, transmission line installation/upgrade, repowering projects, energy efficiency projects, and clean energy technology projects.

Adds Section 1884 requiring funds collected through energy or energy-related fees and surcharges authorized by the Public Service Commission be dedicated exclusively for purposes specified by the Commission for those fees or surcharges.

Mandates that excess collections in any calendar year beyond the cost of programs and services shall be returned to ratepayers through a Public Service Commission proceeding.

Takes effect immediately upon enactment.