NY S04876

Increases the amount of St. Lawrence county economic development power that the New York Power Authority may use to generate net earnings from a cap that would have decreased to 10 megawatts to a permanent cap of 20 megawatts or the unallocated amount under the authority-TMED contract, whichever is less.

Removes the sunset provision that would have reduced the megawatt cap from 20 to 10 megawatts five years after the original subdivision took effect.

Adds language allowing St. Lawrence county economic development power directly allocated by the authority to qualified applicants under the authority-TMED contract to count toward the megawatt cap calculation.

Expands the definition of "authority-TMED contract" to include any extension or successor tariff and contract that expires on or before 2040, rather than limiting it to the original October 12, 2012 agreement.

Requires at least 15 percent of net earnings in the northern New York economic development fund to support energy-related projects and programs.