§ 5-127. New York state business energy conservation loan program. 1.\nAs used in this section, unless a different meaning clearly appears from\nthe context, the term:\n a. "Agri-business" shall mean (i) an individual, partnership or\ncorporation involved in farm production which (1) has had twenty\nthousand dollars or more in gross farm production related sales in the\ntwelve-month period prior to the submission of a program application, or\nfrom which at least fifty percent of the applicant's income was derived\nduring such period, or (2) if the applicant has not been in operation\nfor the prior twelve-month period, certifies that sales are projected in\nexcess of twenty thousand dollars, or at least fifty percent of the\napplicant's income is projected to be derived, from farm production\nduring the next twelve-month period; or (ii) a business involved in food\nprocessing.\n b. "Financing institution" shall mean and include all banks, trust\ncompanies, savings banks, savings and loan associations and credit\nunions, whether incorporated, chartered, organized or licensed under the\nlaws of this state, any other state of the United States or the federal\ngovernment.\n This term may also include public authorities, public benefit\ncorporations, units of local government, domestic insurance companies\nand not-for-profit corporations, which make loans for improvements for\nthe benefit of eligible applicants.\n c. "Eligible applicant" or "applicant" shall mean (i) a small to\nmedium size business or a not-for-profit corporation that is a veteran's\norganization which employs less than five hundred workers or has gross\nannual sales of less than ten million dollars, or (ii) an agri-business,\nand which is the owner or which has a lease or management agreement\nextending beyond the loan term of a building located within the state\nfor which an eligible energy conservation improvement is made, provided\nthat the commissioner may qualify this definition by rule and\nregulation.\n d. "Eligible energy conservation improvement" or "improvement" shall\nmean the construction, alteration, repair or improvement to a building\nor equipment affixed to, contained in or on the grounds of the building\nwhich reduces energy consumption provided that: (i) the cost of such\nimprovement will be returned in savings in energy costs within a period\nof not less than one year nor more than ten years as identified in an\nenergy audit, (ii) work on such improvement commenced after submittal of\nan application under the program, and (iii) such construction,\nalteration, repair or improvement is permissible under federal\nrequirements and court decisions applicable to overcharge funds\nappropriated to this program.\n e. "Energy audit" shall mean a process which identifies and specifies\nthe energy and cost savings which are likely to be realized by an\neligible energy conservation improvement.\n f. "Loan" or "program loan" shall mean a loan from a financing\ninstitution pursuant to an agreement with the office as part of the New\nYork state business energy conservation loan program.\n g. "Program" shall mean the New York state business energy\nconservation loan program.\n h. "Region" shall mean one or more of the following named areas\ncomprised of the counties indicated:\n (1) Buffalo-Rochester: Cattaraugus, Chautauqua, Erie, Genesee,\nLivingston, Monroe, Niagara, Ontario, Orleans, Seneca, Wayne, Wyoming\nand Yates counties;\n (2) Syracuse-Southern Tier: Allegany, Broome, Cayuga, Chemung,\nChenango, Cortland, Delaware, Madison, Onondaga, Oswego, Otsego,\nSchuyler, Steuben, Tioga and Tompkins counties;\n (3) Central-Northern: Albany, Clinton, Essex, Franklin, Fulton,\nHamilton, Herkimer, Jefferson, Lewis, Montgomery, Oneida, Rensselaer,\nSaratoga, Schenectady, Schoharie, St. Lawrence, Warren and Washington\ncounties;\n (4) Westchester-Mid-Hudson: Columbia, Dutchess, Greene, Orange,\nPutnam, Rockland, Sullivan, Ulster and Westchester counties;\
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.