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NY A02999
Bill
Status
1/20/2015
Primary Sponsor
Steven Englebright
Click for details
AI Summary
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Authorizes any municipality (county, city, town, or village) to establish a green loans program by local law or ordinance using federal grants and other available funds
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Provides municipal loans to residential property owners for purchasing and installing solar energy generating systems, wind energy generating systems, or performing energy efficiency improvements on their dwellings
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Requires loans for solar and wind systems to be repaid through 20 equal annual charges imposed on the residential property alongside regular municipal property taxes, with a fixed interest rate established at loan origination
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Requires loans for energy efficiency improvements to be repaid annually at a rate equal to the annual energy savings achieved from the improvements, collected with regular property taxes, also with a fixed interest rate
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Limits program participation to one loan per residential property owner, preventing the same owner from receiving loans from multiple municipalities under this program
Legislative Description
Authorizes counties, cities, towns and villages to establish green loans programs to provide financing to residential property owners for the purchase and installation of solar energy generating systems and/or wind energy generating systems on such property, and/or for the costs of the performance of an energy efficiency analysis of the dwelling on such property and the completion of energy efficiency improvements upon such dwelling by a licensed contractor; such loans shall be repaid from an annual tax levy on the property; a property owner shall be eligible for only one such loan.
Last Action
referred to energy
1/6/2016