NY S08889

Requires the New York State Energy Research and Development Authority to deposit all funds collected from renewable energy certificate procurement contracts related to renewables development on viable agricultural lands into a new Agricultural and Farmland Viability Protection Fund.

Establishes the Agricultural and Farmland Viability Protection Fund under joint custody of the State Comptroller and Commissioner of Taxation and Finance to hold revenues from renewable energy contracts and other appropriated moneys.

Designates all moneys in the fund for agricultural and farmland protection activities under Article 25-AAA of the Agriculture and Markets Law.

Requires the Comptroller to authorize fund disbursements on vouchers approved and certified by the Commissioner of Agriculture and Markets.

Takes effect 90 days after enactment and applies to all contracts issued on or after the effective date.