NY S04423

Requires the Public Service Commission to obtain approval from the New York State Public Authorities Control Board before increasing rates, charges, or other collections by more than $700,000 that are directed solely to the New York State Energy Research and Development Authority.

Requires the Public Service Commission to obtain approval from the Public Authorities Control Board before transferring, repurposing, or reprogramming any money previously designated for the Energy Research and Development Authority for a different purpose.

Mandates that the Public Service Commission conduct a full cost-benefit analysis including public comment and hearings for any such actions and submit the analysis with its application to the Control Board.

Adds the Public Service Commission to the list of public benefit corporations subject to the Public Authorities Control Board's oversight jurisdiction.

Amends the Public Authorities Law to require the Energy Research and Development Authority to obtain board approval and conduct cost-benefit analyses before transferring or repurposing designated funds.