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Bill

S 3034

Reliable Power Act

119th Congress Introduced by Tom Cotton

Bill S 3034 protects New York Power Authority funds by prohibiting transfers to the state’s general fund, ensuring resources support energy infrastructure and initiatives.

Committee on Energy and Natural Resources Subcommittee on Energy. Hearings held.
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Bill Summary · S 3034

Summary of Bill S 3034

Bill Overview

  • Bill Number: S 3034
  • Title: Prohibits the legislature from transferring funds from the power authority of the state of New York into the general fund
  • Status: Opinion referred to Judiciary
  • Introduced: January 23, 2025
  • Classification: Bill

Purpose and Intent

The primary purpose of Bill S 3034 is to safeguard the financial resources of the New York Power Authority (NYPA) by preventing the state legislature from reallocating its funds into the general fund. This measure aims to ensure that the revenues generated by the NYPA are used specifically for their intended purposes, which include maintaining and improving the state's power infrastructure and supporting energy-related initiatives.

Key Provisions

  • Prohibition on Fund Transfers: The bill explicitly prohibits any transfer of funds from the New York Power Authority to the state's general fund. This means that the financial assets and revenues generated by the NYPA must remain within the authority and cannot be diverted for other state expenditures.

Impact

  • Affected Entities:

    • New York Power Authority (NYPA): The bill directly impacts the NYPA by securing its financial autonomy and ensuring that its funds are utilized for energy projects and infrastructure improvements.
    • State Budget: By restricting the transfer of funds, the bill may influence the state budget, as it limits the financial resources available for general state spending.

  • Long-term Implications: This legislation could lead to increased investment in the state's energy infrastructure, potentially enhancing reliability and sustainability in energy production and distribution.

Legislative Actions

  • January 23, 2025: The bill was introduced and referred to the Judiciary Committee.
  • February 5, 2025: The bill was referred to the Judiciary for an opinion, indicating that further legal review is necessary before proceeding.

Related Bills

  • S 5249: A prior-session bill that may have similar objectives or provisions.
  • S 3654: Another prior-session bill that could relate to energy funding or authority governance.
  • S 1483: A prior-session bill that may address similar issues regarding state financial management.

Conclusion

Bill S 3034 represents a significant legislative effort to protect the financial integrity of the New York Power Authority by preventing the diversion of its funds. As it progresses through the legislative process, its implications for state energy policy and budget management will be closely monitored.

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

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