New York Assembly Bill A05404

New York 2025-2026 Regular Session

• Introduced: 2/13/25
• Refer: 2/13/25

Caption

Relates to the municipal sustainable energy loan program regarding qualifying water improvements, qualifying resiliency improvements and the use of low carbon intensity building components.

Impact

If enacted, this bill would enable municipal corporations to actively participate in advancing statewide energy efficiency and renewable energy goals. The loans offered under this program would be considered liens on the benefiting real property, ensuring that municipalities retain rights to recover costs through property assessments. There are provisions within the bill that outline the processes for loan management, including the criteria for eligibility and the terms for repayment, which could significantly enhance local authority in environmental initiatives.

Summary

Assembly Bill A05404 aims to amend the General Municipal Law in relation to establishing a sustainable energy loan program at the municipal level. This program permits municipalities to provide loans to property owners for the installation of renewable energy systems, energy efficiency improvements, qualifying water improvements, resiliency enhancements, and low carbon intensity building components. The bill underscores the state's intention to reduce greenhouse gas emissions and promote a clean energy economy, fulfilling essential public purposes by facilitating access to funding for energy-related improvements.

Contention

Discussions around AB A05404 may include considerations regarding the financial implications for local governments and property owners. Proponents advocate for the bill by highlighting its potential to stimulate the local economy, improve community resilience against climate change, and enhance property values through energy-efficient upgrades. On the other hand, concerns may arise over the fiscal responsibilities placed on municipalities and the capacity to manage and oversee such loan programs effectively.