S 10157 NY
Enacts the "utility fair acquisition act"
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Summary
This bill, known as the Utility Fair Acquisition Act, requires that when a municipal corporation or public authority acquires electric generation, transmission, or distribution infrastructure from a private utility company, the purchase price shall be reduced by the value of infrastructure that customers previously financed through user fees or ratepayer surcharges. The Public Service Commission is required to determine, upon request, what portion of the utility's assets were financed through customer payments rather than investor capital, and to issue a report recommending a corresponding reduction in the acquisition price. The bill applies to acquisitions of both electric infrastructure and water services infrastructure by authorized public authorities. The law takes effect immediately upon enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Official abstract
Enacts the "utility fair acquisition act", providing that in any acquisition by a municipal corporation or a public benefit corporation created pursuant to article 5 of the public authorities law of infrastructure operated by a public utility company or private energy provider, the appraised value shall be reduced by the value of infrastructure that was financed through customer user fees, ratepayer surcharges, or other non-investor-funded mechanisms as determined by the public service commission.
Sponsor (1)
- Julia Salazar Democratic · primary
Action history (1)
- May 1, 2026 REFERRED TO LOCAL GOVERNMENT · upper
Text versions (2)
Full text
Full text imported from assembly.state.ny.us
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Bill No.: Summary Actions Committee Votes Floor Votes Memo Text LFIN Chamber Video/Transcript S10157 Summary: BILL NO S10157   SAME AS SAME AS A09154-A
  SPONSOR SALAZAR   COSPNSR   MLTSPNSR   Amd §362, Gen Muni L; add §2859, Pub Auth L   Enacts the "utility fair acquisition act", providing that in any acquisition by a municipal corporation or a public benefit corporation created pursuant to article 5 of the public authorities law of infrastructure operated by a public utility company or private energy provider, the appraised value shall be reduced by the value of infrastructure that was financed through customer user fees, ratepayer surcharges, or other non-investor-funded mechanisms as determined by the public service commission.
Go to top S10157 Text:
STATE OF NEW YORK ________________________________________________________________________
10157
IN SENATE
May 1, 2026 ___________
Introduced by Sen. SALAZAR -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government
AN ACT to amend the general municipal law and the public authorities law, in relation to enacting the "utility fair acquisition act"
The People of the State of New York, represented in Senate and Assem- bly, do enact as follows:
1 Section 1. Short title. This act shall be known and may be cited as 2 the "utility fair acquisition act". 3 § 2. Section 362 of the general municipal law, as amended by chapter 4 838 of the laws of 1945, is amended to read as follows: 5 § 362. Financing the cost of public utility service. 1. Any municipal 6 corporation may finance the cost of such public utility service in whole 7 or in part by levying taxes in the same manner as taxes are levied 8 pursuant to law for any permanent improvement by such municipal corpo- 9 ration, or the same may be financed in whole or in part pursuant to the 10 local finance law. 11 2. (a) In any acquisition by a municipal corporation of electric 12 generation, transmission or distribution infrastructure currently oper- 13 ated by a public utility company or private energy provider, the 14 appraised value shall be reduced by the proportional value of infras- 15 tructure that was financed through customer user fees, ratepayer 16 surcharges, or other non-investor-funded mechanisms, as determined by 17 the public service commission. 18 (b) The public service commission shall, upon request by a municipal 19 corporation seeking to acquire utility assets, determine the extent to 20 which such assets were financed through customer user fees, ratepayer 21 surcharges, or other non-investor-funded mechanisms, and shall issue a 22 report identifying the value of such contributions and recommending a 23 commensurate reduction in the acquisition price. 24 § 3. The public authorities law is amended by adding a new section 25 2859 to read as follows: 26 § 2859. Financing the cost of a public utility service. Notwithstand- 27 ing any other provisions of this title or the provisions of any general, 28 special or local law, any public benefit corporation created pursuant to
EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13499-04-6
S. 10157 2
1 article five of this chapter which is authorized by law to produce, 2 develop, distribute and sell water, water services, facilities and 3 commodities shall have the power: 4 1. In any acquisition by a public utility corporation of generation, 5 transmission or distribution infrastructure currently operated by a 6 public utility company or private energy provider, the appraised value 7 shall be reduced by the proportional value of infrastructure that was 8 financed through customer user fees, ratepayer surcharges, or other 9 non-investor-funded mechanisms, as determined by the public service 10 commission. 11 2. The public service commission shall, upon request by a public util- 12 ity corporation seeking to acquire utility assets, determine the extent 13 to which such assets were financed through customer user fees, ratepayer 14 surcharges, or other non-investor-funded mechanisms, and shall issue a 15 report identifying the value of such contributions and recommending a 16 commensurate reduction in the acquisition price. 17 § 4. This act shall take effect immediately.
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