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S 8839

Authorizes the dormitory authority to provide financing to The New York Climate Exchange Inc. for the construction of facilities

2025 Regular Session Introduced by Andrew Gounardes and 2 co-sponsors

DASNY may provide bonds or other financing to The New York Climate Exchange Inc. for construction-related facilities.

AMENDED ON THIRD READING (T) 8839A
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Bill Summary · S 8839

Summary of Bill S.8839 (Session 2025-2026, New York)

Title

Authorizes the dormitory authority to provide financing to The New York Climate Exchange Inc. for the construction of facilities

Purpose and Intent

  • The bill amends the Public Authorities Law to authorize the Dormitory Authority of the State of New York (DASNY) to provide financing to a specific entity, The New York Climate Exchange Inc., for construction-related facilities.
  • In short, it expands DASNY’s financing authority to include projects undertaken by The New York Climate Exchange Inc.

Key Provisions

  1. Authorization of Financing for The New York Climate Exchange Inc.

    • Two amendments add The New York Climate Exchange Inc. to DASNY’s list of entities eligible for DASNY financing:
      • Paragraph (b) of subdivision 2 of section 1676 is amended to include The New York Climate Exchange Inc.
      • Subdivision 1 of section 1680 is amended to include The New York Climate Exchange Inc.
    • The effect is to permit DASNY to issue bonds or provide other financing instruments to support construction or related facilities for The New York Climate Exchange Inc.

  2. Immediate Effect

    • The act takes effect immediately upon enactment.

  3. Administrative Details

    • The bill includes standard legislative framing, with amendments to existing sections of the Public Authorities Law to formally include The New York Climate Exchange Inc. within the scope of entities eligible for DASNY financing.

Who or What Would Be Affected

  • The New York Climate Exchange Inc.: As the recipient of DASNY financing, the entity would be able to obtain funds for construction of its facilities through DASNY’s financing programs.
  • DASNY (Dormitory Authority of the State of New York): Authorized to provide financing to this entity, subject to DASNY’s existing terms, processes, and statutory authority.
  • Public Authorities Landscape: This adds another project category/partnership within the DASNY portfolio, potentially affecting financing markets, project timelines, and state infrastructure/economic development activities linked to climate-related facilities.

Procedural and Timeline Aspects

  • Introduced: January 8, 2026
  • Committee: Referred to the Committee on Corporations, Authorities and Commissions
  • Action History:
    • Referred to committee (2026-01-08)
    • Advanced to 2nd Reading (2026-02-10)
    • Advanced to Third Reading (2026-02-24)
    • Amended on Third Reading (2026-04-22) as bill 8839A
  • Effective Date: Immediate upon enactment

Potential Implications

  • Economic/Infrastructure Impact: Enables financing for climate-related facilities, potentially accelerating development of climate exchange infrastructure, job creation, and related economic activity.
  • Public Finance Considerations: Shifts additional projects into DASNY’s financing portfolio; would be subject to DASNY’s standard credit, interest, and governance frameworks.
  • Policy Signals: Signals state support for climate innovation and related facilities through public authority financing mechanisms.

If you’d like, I can add a brief comparison to similar DASNY financing authorizations or provide a plain-language paraphrase of the underlying Public Authorities Law sections being amended.

Compiled from official sources — confirm details with the bill’s official record.

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