§ 1896. Green jobs-green New York revolving loan fund. 1. (a) There is\nhereby created a green jobs-green New York revolving loan fund. The\nrevolving loan fund shall consist of:\n (i) all moneys made available for the purpose of the revolving loan\nfund pursuant to section eighteen hundred ninety-nine-a of this title;\n (ii) payments of principal and interest, including any late payment\ncharges, made pursuant to loan or financing agreements entered into with\nthe authority or its designee pursuant to this section; and\n (iii) any interest earned by the investment of moneys in the revolving\nloan fund.\n (b) The revolving loan fund shall consist of two accounts:\n (i) one account which shall be maintained for monies to be made\navailable to provide loans to finance the cost of approved qualified\nenergy efficiency services for residential structures and multi-family\nstructures, and\n (ii) one account which shall be maintained for monies made available\nto provide loans to finance the cost of approved qualified energy\nefficiency services for non-residential structures. The initial balance\nof the residential account established in subparagraph (i) of this\nparagraph shall represent at least fifty percent of the total balance of\nthe two accounts. The authority shall not commingle the monies of the\nrevolving loan fund with any other monies of the authority or held by\nthe authority, nor shall the authority commingle the monies between\naccounts. Payments of principal, interest and fees shall be deposited\ninto the account created and maintained for the appropriate type of\neligible project.\n (c) In administering such program, the authority is authorized and\ndirected to:\n (i) use monies made available for the revolving loan fund to achieve\nthe purposes of this section by section eighteen hundred ninety-nine-a\nof this title, including but not limited to making loans available for\neligible projects;\n (ii) enter into contracts with one or more program implementers to\nperform such functions as the authority deems appropriate;\n (iii) establish an on-bill recovery mechanism for repayment of loans\nfor the performance of qualified energy efficiency services for eligible\nprojects provided that such on-bill recovery mechanism shall provide for\nthe utilization of any on-bill recovery programs established pursuant to\nsection sixty-six-m of the public service law and section one thousand\ntwenty-hh of this chapter;\n (iv) establish standards for customer participation in such on-bill\nrecovery mechanism, including standards for reliable utility bill\npayment, current good standing on any mortgage obligations, and such\nadditional standards as the authority deems necessary; provided that in\norder to provide broad access to on-bill recovery, the authority shall,\nto the fullest extent practicable, consider alternative measures of\ncreditworthiness that are prudent in order to include participation by\ncustomers who are less likely to have access to traditional sources of\nfinancing;\n (v) to the extent feasible, make available on a pro rata basis, based\non the number of electric customers within the utility service\nterritory, to combination electric and gas corporations that offer\non-bill recovery pursuant to section sixty-six-m of the public service\nlaw and the Long Island power authority, up to five hundred thousand\ndollars to defray costs directly associated with changing or upgrading\nbilling systems to accommodate on-bill recovery charges;\n (vi) within thirty days of closing of a loan to a customer, pay a fee\nof one hundred dollars per loan to the combination electric and gas\ncorporation in whose service territory such customer is located or to\nthe Long Island power authority if such customer is located in the\nservice territory of that authority to help defray the costs that are\ndirectly associated with implementing the program;\n (vii) within thirty days of closing of a loan to a customer, pay a\
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