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NY S09422
Bill
Status
3/11/2026
Primary Sponsor
Joseph Griffo
Click for details
AI Summary
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Surplus or uncommitted funds in the New York State Climate Investment Account collected from ratepayers on a bill-as-you-go basis must be credited back to ratepayer accounts at the end of each fiscal year
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Establishes a one-year utility bill tax and surcharge holiday exempting customers from gross receipts tax, sales tax, system benefits charge, temporary state assessment charge, and renewable portfolio standard charge, with utilities required to reduce prices accordingly
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Creates a two-year green energy tax holiday prohibiting tariffs or surcharges for renewable energy systems, electric vehicle infrastructure, and EV charging stations from being imposed on ratepayers
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Grants customers the right to decline smart meter installation without penalty or fees, and directs the Public Service Commission to study the economic impact of smart meters on energy usage and rates
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Authorizes the Public Service Commission to reconsider and reduce previously approved rate increases if financial impacts on customers exceed original projections
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Requires the PSC to develop a formula calculating per-ratepayer costs of Climate Leadership and Community Protection Act compliance and provide a refundable tax credit for individuals earning under $250,000 to offset these costs
Legislative Description
Allows surplus or uncommitted funds in the New York state climate investment account to be returned to ratepayers; establishes a one-year utility bill tax and surcharge holiday and a two-year green energy tax holiday; relates to audits of utility corporations; authorizes the public service commission to reconsider rate increases; grants customers the right to decline smart meters and prohibits such customers from being penalized or charged exercising such right; directs the public service commission to conduct a study analyzing the economic impact of the use of smart meters; relates to costs and expenses of the department of public service and the public service commission; directs the public service commission to develop a formula to determine the average cost to comply with the provisions set forth in article seventy-five of the environmental conservation law; provides for a ratepayer protection tax credit; repeals certain provisions of law relating to the assessment of costs and expenses of the department of public service and the public service commission.
Last Action
REFERRED TO FINANCE
3/11/2026