NY A09990

Establishes the "Bucks for Boilers Program" administered by the New York State Energy Research and Development Authority to transition residential housing from oil and gas heating to electric heat pumps and high-efficiency systems.

Provides full-cost funding for buildings in disadvantaged communities and housing for formerly-incarcerated individuals, with priority for low-income homeowners and renters; offers up to $50,000 per unit for privately owned residential housing.

Creates a dedicated "Bucks for Boilers Fund" receiving $4 billion annually from the state energy authority to finance equipment procurement, installation, utility bill assistance for low-income households, and workforce training programs.

Prohibits landlords receiving program funds from increasing rent for five years following completion of work and requires extension of tenant leases for at least five years; mandates prioritized hiring of formerly-incarcerated individuals for state-owned or state-subsidized projects over $50,000.

Bans installation of fossil-fuel heating and cooling equipment in buildings seven stories or fewer by December 31, 2029, and in all existing buildings by December 31, 2034; applies prevailing wage requirements to projects receiving at least $50,000 in program funding.