NY A09033

Directs the Public Service Commission to establish a low carbon portfolio standard to replace New York's renewable portfolio standard, with targets including at least 17 percent of electricity from nuclear generating facilities.

Designates the New York State Energy Research and Development Authority as the central procurement agency to promote low carbon emissions energy development and provide incentives for low carbon generation.

Renames the renewable portfolio standard charge as the low carbon portfolio standard charge, with funds managed by the authority and kept separate from other state funds.

Exempts customers already exempt from the system benefits charge from the low carbon portfolio standard charge.

Amends the public authorities law to create Title 9-B establishing the Zero Carbon Emission Investment Program and associated fund.