NY A10509

Creates an energy project revolving loan program administered by the Power Authority of New York in collaboration with the Green Bank to provide zero-percent or low-interest loans for zero-emission energy generation projects

Eligible borrowers include public entities, not-for-profit organizations, and utilities, including the Power Authority of the state of New York

Requires a competitive request for proposals process with cost-benefit analysis to ensure projects benefit the state and ratepayers, with consideration of project completion probability

Loan recipients must repay the full loan amount upon project completion and obtain permanent financing from other sources within five years of receiving the loan

All funded projects are classified as public work requiring project labor agreements with union contractors and mandatory apprenticeship programs under state labor law