N.Y. Economic Development Law Law 189-A – Definitions
§ 189-a. Definitions. For the purposes of this article, the following terms shall have the following meanings:
Terms Used In N.Y. Economic Development Law Law 189-A
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Eligible applicant: means a private business, including a not-for-profit corporation. See N.Y. Economic Development Law Law 189-A
- expansion and replacement power: means the energy associated with such power. See N.Y. Economic Development Law Law 189-A
- fund: is a fund of the authority into which all net earnings are deposited by the authority in accordance with subdivision twenty of § 1005 of the public authorities law and from which allocations of fund benefits to eligible projects may be made. See N.Y. Economic Development Law Law 189-A
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
1. "Authority" is the power authority of the state of New York.
2. "Board" is the western New York power proceeds allocation board created by this article.
3. "Benefits" or "fund benefits" are payments to eligible applicants selected by the authority for the purpose of funding eligible projects with monies derived from net earnings that have been deposited into the western New York economic development fund.
4. "Eligible applicant" means a private business, including a not-for-profit corporation.
5. "Eligible projects" are economic development projects by eligible applicants that are physically located within the state of New York within a thirty mile radius of the Niagara power project located in Lewiston, New York that will support the growth of business in the state and thereby lead to the creation or maintenance of jobs and tax revenues for the state and local governments. Eligible projects may include capital investments in buildings, equipment, and associated infrastructure (collectively, "infrastructure") owned by an eligible applicant for fund benefits; transportation projects under state or federally approved plans; the acquisition of land needed for infrastructure; research and development where the results of such research and development will directly benefit New York state; support for tourism and marketing and advertising efforts for western New York state tourism and business; and energy-related projects. Eligible projects do not include, and fund benefits may not be used for, public interest advertising or advocacy; lobbying; the support or opposition of any candidate for public office; the support or opposition to any public issue; legal fees related to litigation of any kind; expenses related to administrative proceedings before state or local agencies; or retail businesses as defined by the board, including without limitation, sports venues, gaming and gambling or entertainment-related establishments, residential properties, or places of overnight accommodation.
6. "Energy-related projects, programs and services" shall have the same meaning as such term is defined in subparagraph two of paragraph (b) of subdivision seventeen of § 1005 of the public authorities law.
7. "Expansion power" is the two hundred fifty megawatts of firm Niagara project hydroelectric power and "replacement power" is the four hundred forty-five megawatts of firm Niagara project hydroelectric power as such terms are defined in subdivision thirteen of § 1005 of the public authorities law. For purposes of this article, "expansion and replacement power" means the energy associated with such power. Notwithstanding any law, rule, regulation, or policy to the contrary, as of the first day of July, two thousand twelve, the term replacement power as used in this article includes a certain seventy megawatts of power that is referred to in subdivision thirteen of § 1005 of the public authorities law.
8. "Net earnings" is the aggregate excess of revenues received by the power authority of the state of New York from the sale of expansion and replacement power and energy produced at the Niagara project that was sold in the wholesale energy market over what revenues would have been received had such energy been sold on a firm basis to an eligible expansion or replacement power customer under the applicable tariff or contract.
9. "Western New York economic development fund" or "fund" is a fund of the authority into which all net earnings are deposited by the authority in accordance with subdivision twenty of § 1005 of the public authorities law and from which allocations of fund benefits to eligible projects may be made.