NY S06331

Removes requirement for NYSERDA to record declarations in property records for on-bill energy efficiency loans, instead allowing loan agreements to specify whether purchasers must expressly assume future charges in writing.

Establishes that if a purchaser does not expressly assume remaining on-bill charges, the original seller or current loan holder remains responsible for payment through direct billing to NYSERDA.

Modifies Public Service Law to condition survival of on-bill recovery charges across property ownership changes only when NYSERDA has recorded a declaration pursuant to real property law article nine.

Eliminates the requirement to provide written notice to prospective purchasers about on-bill recovery charges if the loan agreement allows original sellers to retain responsibility absent written assumption by the new owner.

Takes effect thirty days after enactment and applies to eligible applications submitted on or after that date.