Bill Text: NY A10221 | 2023-2024 | General Assembly | Introduced
Bill Title: Includes energy services companies as utilities for purposes of unclaimed deposits and refunds.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed) 2024-06-07 - RECOMMITTED TO RULES [A10221 Detail]
Download: New_York-2023-A10221-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 10221 IN ASSEMBLY May 14, 2024 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Woerner, Weinstein) -- (at request of the Department of Public Service) -- read once and referred to the Committee on Ways and Means AN ACT to amend the abandoned property law, in relation to unclaimed deposits and refunds for utility services furnished by energy services companies The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 103 of the abandoned property law is amended by 2 adding a new subdivision (j) to read as follows: 3 (j) "Energy services company" or "ESCO" shall mean an entity eligible 4 to sell energy services to end-use customers using the transmission or 5 distribution system of a utility. 6 § 2. Subdivision (f) of section 103 of the abandoned property law, as 7 amended by chapter 498 of the laws of 1944 and relettered by chapter 908 8 of the laws of 1974, is amended to read as follows: 9 (f) "Utility services" means gas, electricity or steam supplied by a 10 gas, electric, gas and electric or district steam corporation or an 11 energy services company, telephone, telegraph or other service furnished 12 by a telephone, telegraph or telegraph and telephone corporation, water 13 supplied by a waterworks corporation, or appliances, equipment, instal- 14 lations, fixtures or appurtenances rented by any such corporation or 15 company. 16 § 3. The opening paragraph of subdivision 1 of section 400 of the 17 abandoned property law, as amended by chapter 498 of the laws of 1944, 18 is amended to read as follows: 19 The following unclaimed moneys held or owing by a gas corporation, an 20 electric corporation, a gas and electric corporation, a district steam 21 corporation, an energy services company, a telegraph corporation, a 22 telephone corporation, a telegraph and telephone corporation, or a 23 waterworks corporation, shall be deemed abandoned property: 24 § 4. Paragraphs (a) and (b) of subdivision 1 of section 400 of the 25 abandoned property law, as amended by chapter 78 of the laws of 1976, 26 are amended to read as follows: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14458-01-4A. 10221 2 1 (a) Any deposit made by a consumer or subscriber with such a corpo- 2 ration or company to secure the payment for utility services furnished 3 by such corporation or company, or the amount of such deposit after 4 deducting any sums due to such corporation or company by such consumer 5 or subscriber, together with any interest due thereon, which shall have 6 remained unclaimed by the person or persons appearing to be entitled 7 thereto for two years after the termination of the utility services to 8 secure the payment of which such deposit was made, or, if during such 9 two year period utility services are furnished by such corporation or 10 company to such consumer or subscriber and such deposit is held by such 11 corporation or company to secure payment therefor, for two years after 12 the termination of such utility services. 13 (b) Any amount paid by a consumer or subscriber to such a corporation 14 or company in advance or in anticipation of utility services furnished 15 or to be furnished by such corporation or company which in fact is not 16 furnished, after deducting any sums due to such corporation or company 17 by such consumer or subscriber for utility services in fact furnished, 18 which shall have remained unclaimed by the person or persons appearing 19 to be entitled thereto for two years after the termination of the utili- 20 ty services for which such amount was paid in advance or in antic- 21 ipation, or, if during such period utility services are furnished by 22 such corporation or company to such consumer or subscriber and such 23 amount is applied to the payment in advance or in anticipation of such 24 utility services, for two years after the termination of such utility 25 services. 26 § 5. Paragraph (c) of subdivision 1 of section 400 of the abandoned 27 property law, as amended by chapter 833 of the laws of 1963, is amended 28 to read as follows: 29 (c) The amount of any refund of excess or increased rates or charges 30 heretofore or hereafter collected by any such corporation or company for 31 utility services lawfully furnished by such corporation or company which 32 has been or shall hereafter lawfully be ordered refunded to a consumer 33 or other person or persons entitled thereto, together with any interest 34 due thereon, less any lawful deductions, which shall have remained 35 unclaimed by the person or persons entitled thereto for two years from 36 the date it became payable in accordance with the final determination or 37 order providing for such refund. 38 § 6. Subdivision 2 of section 400 of the abandoned property law is 39 amended to read as follows: 40 2. Any such abandoned property held or owing by such a corporation or 41 company to which the right to receive the same is established to the 42 satisfaction of such corporation or company shall cease to be deemed 43 abandoned. 44 § 7. Subdivision 1 of section 402 of the abandoned property law, as 45 amended by section 11 of part A of chapter 61 of the laws of 2011, is 46 amended to read as follows: 47 1. Every such corporation or company shall cause to be published, on 48 or before the first day of September in each year, a notice entitled: 49 "NOTICE OF CERTAIN UNCLAIMED PROPERTY HELD BY (name of corporation or 50 company)." 51 § 8. Paragraph (a) of subdivision 3 of section 402 of the abandoned 52 property law is amended to read as follows: 53 (a) that a report of unclaimed amounts of money or other property held 54 or owing by it has been made to the state comptroller and that a list of 55 the names of the person or persons appearing from the records of such 56 corporation or company to be entitled thereto is on file and open toA. 10221 3 1 public inspection at its principal office or place of business in any 2 city, village or county where any such abandoned property is payable; 3 § 9. Subdivision 4 of section 402 of the abandoned property law is 4 amended to read as follows: 5 4. Such corporation or company shall file with the state comptroller 6 on or before the tenth day of September in each year proof by affidavit 7 of such publication. 8 § 10. Subdivisions 1 and 2 of section 403 of the abandoned property 9 law, as amended by section 12 of part A of chapter 61 of the laws of 10 2011, are amended to read as follows: 11 1. In such succeeding month of October, and on or before the tenth day 12 thereof, every such corporation or company shall pay to the state comp- 13 troller all property which, as of the first day of July next preceding, 14 was deemed abandoned pursuant to section four hundred of this article, 15 held or owing by such corporation or company. 16 2. Such payment shall be accompanied by a true and accurate report 17 setting forth such information as the state comptroller may require 18 relating to such abandoned property including: 19 (a) as to abandoned property specified in paragraphs (a) and (b) of 20 subdivision one of section four hundred of this article: 21 (i) the name and last known address of each depositor or subscriber 22 appearing from the records of such corporation or company to be entitled 23 to receive any such abandoned property; 24 (ii) the date when the deposit was made or amount paid; 25 (iii) the amount of such deposit or payment; 26 (iv) the date when utility services furnished to such consumer or 27 subscriber ceased; 28 (v) any sums due and unpaid to the corporation or company by such 29 consumer or subscriber, with interest thereon from the date of termi- 30 nation of service; 31 (vi) the amount of interest due upon such deposit or payment on any 32 balance thereof that has remained with such corporation or company and 33 not been credited to such consumer's or subscriber's account; 34 (vii) the amount of such abandoned property; and 35 (viii) such other identifying information as the state comptroller may 36 require. 37 (b) as to abandoned property specified in paragraph (c) of subdivision 38 one of section four hundred of this article: 39 (i) the name and last known address of each person appearing from the 40 records of such corporation or company to be entitled to receive the 41 same; 42 (ii) the amount appearing from such records to be due each such 43 person; 44 (iii) the date payment became due; and 45 (iv) such other identifying information as the state comptroller may 46 require. 47 § 11. This act shall take effect immediately.
