NY A02918

Modifies the amount of St. Lawrence county economic development power that the New York Power Authority may use to generate net earnings, capping it at the lesser of 20 megawatts or the amount not allocated under the authority-TMED contract or directly allocated to qualified applicants.

Removes a provision that would have reduced the cap to 10 megawatts beginning five years after the original effective date.

Expands the definition of "authority-TMED contract" to include any extension or successor tariff and contract expiring on or before the year 2040, in addition to the October 18, 2012 agreement between the New York Power Authority and the Town of Massena Electric Department.

Requires at least 15 percent of net earnings deposited into the Northern New York Economic Development Fund to be dedicated to energy-related projects, programs, and services.

Takes effect immediately upon enactment.