NY S08237

Increases maximum loan amounts for energy efficiency improvements from $25,000 to $50,000 for residential structures and maintains $50,000 for non-residential structures under the Green Jobs-Green New York program

Changes loan payback requirements from a maximum 15-year payback period to allowing payback periods that do not exceed the useful life of the installed energy efficiency measures

Eliminates the requirement for NYSERDA to record declarations in real property records for on-bill recovery loans, removing automatic transfer of loan obligations upon property sale

Requires written express assumption by property purchasers to take responsibility for on-bill recovery charges; absent such assumption, the original seller or current loan holder remains responsible for payments through direct billing to NYSERDA

Exempts sellers from providing written notice of on-bill recovery charges to prospective purchasers when the loan agreement specifies that new owners only assume charges through explicit written agreement