N.Y. PBA Law § 1850-A

§ 1850-a. Legislative declaration. It is hereby declared that the need\nfor obtaining and maintaining an adequate and continuous supply of safe,\ndependable and economical power and energy is a matter of serious\nconcern to the people of the state; that accelerated development and use\nwithin the state of new energy technologies to supplement energy derived\nfrom existing sources will promote the state's economic growth, protect\nits environmental values and be in the best interests of the health and\nwelfare of the state's population; and that such development and use\nrequires special efforts to foster research, development, and\ndemonstration in the methods of production and use of new energy\ntechnologies. The objective of this title is the development and\nutilization of safe, dependable, renewable and economic energy sources\nand the conservation of energy and energy resources.\n It is further declared that implementation of this objective can best\nbe effectuated by changing and reconstituting the New York state atomic\nand space development authority into the New York state energy research\nand development authority. While maintaining its present commitments to\nits bondholders, the authority shall direct its efforts toward the\ndevelopment of new energy technologies, with special emphasis on\nrenewable energy sources and energy conservation technologies.\n It is further declared and found that the objective of this title can\nbe achieved by (1) continuing the authority's authorization to issue\nbonds and notes and to lend or otherwise apply the proceeds therefrom\nfor the benefit of gas and power companies in financing projects\nincluding, without limitation, experimental or developmental facilities\nimplementing new energy technologies, pollution control facilities,\nfacilities required by the public interest in development, health,\nrecreation, safety, conservation of natural resources and aesthetics,\nand facilities for the furnishing of electric energy or gas, and (2)\nempowering the authority to issue bonds and notes and to lend or\notherwise apply the proceeds therefrom to finance special energy\nprojects for the benefit of persons in the state.\n