Bill Text: NY S05305 | 2019-2020 | General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to the transfer or lease of closed electric generators; requires the payment of prevailing wages of affected employees of the Indian Point Nuclear Power Plant; requires the department of labor to oversee sale and the hiring of new employees at such power plant.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed - Dead) 2020-01-08 - REFERRED TO ENERGY AND TELECOMMUNICATIONS [S05305 Detail]

Download: New_York-2019-S05305-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         5305--A

                               2019-2020 Regular Sessions

                    IN SENATE

                                     April 24, 2019
                                       ___________

        Introduced  by Sen. HARCKHAM -- read twice and ordered printed, and when
          printed to be committed to the Committee on  Energy  and  Telecommuni-
          cations  --  committee  discharged, bill amended, ordered reprinted as
          amended and recommitted to said committee

        AN ACT to amend the public service law, in relation to the  transfer  or
          lease  of  closed  electric  generators; and in relation to payment of
          prevailing wages of affected employees of  the  Indian  Point  Nuclear
          Power Plant

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Section 70 of the public service law, as amended by chapter
     2  226 of the laws of 2009, is amended to read as follows:
     3    § 70. Transfer of franchises or stocks. 1. No  gas  corporation  [or],
     4  electric  corporation  or  closed  electric  generator shall transfer or
     5  lease its franchise, works or system or  any  part  of  such  franchise,
     6  works  or  system to any other person or corporation or contract for the
     7  operation of its works and system, without the written  consent  of  the
     8  commission. Notwithstanding the foregoing, any transfer or lease with an
     9  original  cost of (a) less than one hundred thousand dollars proposed by
    10  a gas [or] corporation, electric corporation or closed electric  genera-
    11  tor  having  annual  gross  revenues  in  excess  of two hundred million
    12  dollars or (b) less than twenty-five thousand dollars proposed by a  gas
    13  [or]  corporation,  electric  corporation  or  closed electric generator
    14  having annual gross revenues of less than two  hundred  million  dollars
    15  shall be effective without the commission's written consent within nine-
    16  ty  days after such corporation notifies the commission that it plans to
    17  complete the transfer or lease and submits a description of the transfer
    18  or lease; provided, however, that the commission  may  determine  within
    19  such  ninety days after such notification and submission that the public
    20  interest requires its review and written consent.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11295-06-9
        S. 5305--A                          2

     1    2. The permission and approval of the commission, to the exercise of a
     2  franchise under section sixty-eight of this article, or to  the  assign-
     3  ment,  transfer  or lease of a franchise under this section shall not be
     4  construed to revive or validate any lapsed or invalid  franchise  or  to
     5  enlarge  or  add  to the powers and privileges contained in the grant of
     6  any franchise or to waive any forfeiture.
     7    3. No gas corporation [or], electric corporation  or  closed  electric
     8  generator shall directly or indirectly acquire the stock or bonds of any
     9  other corporation incorporated for, or engaged in, the same or a similar
    10  business,  in  this state or any other state, or proposing to operate or
    11  operating under a franchise from the same  or  any  other  municipality,
    12  neither shall any street railroad corporation acquire the stock or bonds
    13  of  any  electric corporation, unless authorized so to do by the commis-
    14  sion.
    15    4. Save where stock shall be transferred or held for  the  purpose  of
    16  collateral security only with the consent of the commission empowered by
    17  this  chapter  to  give  such  consent,  no  stock  corporation  of  any
    18  description, domestic or foreign, company, including,  but  not  limited
    19  to,  a  limited  liability company, association, including a joint stock
    20  association, partnership, including a limited liability partnership,  or
    21  person,  other than a gas corporation [or], electric corporation, closed
    22  electric generator or street railroad  corporation,  shall  purchase  or
    23  acquire,  take  or  hold, more than ten per centum of the voting capital
    24  stock issued by any gas corporation [or], electric corporation or closed
    25  electric generator organized or existing under or by virtue of the  laws
    26  of this state, except that a corporation now lawfully holding a majority
    27  of the voting capital stock of any gas corporation [or], electric corpo-
    28  ration  or closed electric generator may with the consent of the commis-
    29  sion acquire and hold the remainder of the voting capital stock of  such
    30  gas  corporation [or], electric corporation or closed electric generator
    31  or any portion thereof. Provided, that with the consent of such  commis-
    32  sion  and  upon and subject to such terms and conditions as such commis-
    33  sion may fix and impose, any such stock  corporation,  company,  associ-
    34  ation,  partnership  or  person may acquire, take and hold more than ten
    35  per centum of the voting capital stock  of  any  gas  corporation  [or],
    36  electric corporation or closed electric generator, organized or existing
    37  under or by virtue of the laws of this state.
    38    5.  No  consent shall be given by the commission to the acquisition of
    39  any stock in accordance with this section  unless  it  shall  have  been
    40  shown  that  such  acquisition is in the public interest. Nothing herein
    41  contained shall be construed to prevent the holding of any stock hereto-
    42  fore lawfully acquired, nor to prevent, upon the surrender  or  exchange
    43  of  such stock pursuant to a reorganization plan, the purchase, acquisi-
    44  tion, taking or holding of a proportionate amount of stock  of  any  new
    45  corporation  organized  to  take over, at foreclosure or other sale, the
    46  property of any corporation whose stock has  been  thus  surrendered  or
    47  exchanged;  but  the  proportion  of the voting capital stock of the new
    48  corporation held by a stock corporation, company, association,  partner-
    49  ship  or  person and acquired by it by any such surrender or exchange of
    50  stock shall not without the consent of the commission exceed the propor-
    51  tion of the voting capital stock held by it in the former corporation.
    52    6. Every contract, assignment, transfer or agreement for  transfer  of
    53  any  stock  by  or through any person or corporation to any corporation,
    54  company,  association,  partnership  or  person  in  violation  of   any
    55  provision  of  this  chapter shall be void and of no effect, and no such
    56  transfer or assignment shall be made upon the  books  of  any  such  gas
        S. 5305--A                          3

     1  corporation,  [or] electric corporation or closed electric generator, or
     2  shall be recognized as effective for any purpose.
     3    7.  No  consent,  permission or approval otherwise required under this
     4  section shall be necessary for the sale of the franchise, works, system,
     5  stocks or bonds by a  gas  [or]  corporation,  electric  corporation  or
     6  closed electric generator to a duly constituted authority of the state.
     7    8.  Any  transfer or lease, as well as any decommissioning activities,
     8  by a closed electric generator of its franchise, works or system or  any
     9  part of such franchise, works or system to any corporation, firm, compa-
    10  ny, partnership, limited liability company, association or person shall,
    11  to the maximum extent practicable, provide that employees of such closed
    12  electric  generator  with  skill  sets  necessary for the operation of a
    13  successor corporation, firm,  company,  partnership,  limited  liability
    14  company,  association  or  person  be  retained for employment with such
    15  successor and shall be paid a wage of not less than the prevailing  wage
    16  in the locality where such closed electric generator is located.
    17    9.  Any  corporation,  firm,  company,  partnership, limited liability
    18  company or association, hereinafter  "purchaser",  with  a  contract  to
    19  purchase the Indian Point Nuclear Power Plant shall enter into a project
    20  labor agreement, hereinafter "PLA", between the purchaser and the Build-
    21  ing  and Construction Trades Council of Westchester and Putnam Counties,
    22  New York, assuring that all work shall be done in a safe, efficient  and
    23  timely manner with all the cost savings associated with the PLA.
    24    §  2.  Notwithstanding any other provision of law to the contrary, the
    25  commissioner of labor shall ensure that  any  employees  of  the  Indian
    26  Point  Nuclear Power Plant, located at 450 Broadway, Buchanan, New York,
    27  10511, and any successor or successors in interest to the  Indian  Point
    28  Nuclear  Power  Plant, shall be granted notice to any affected employees
    29  pursuant to section 860-b of the labor law and such employees  shall  be
    30  granted  prevailing wages pursuant to section 220 of the labor law. Such
    31  affected employees shall be paid a premium wage  commensurate  with  the
    32  premium  wages  prevailing  in  the  area in which the work is performed
    33  until such time as the Indian Point Nuclear Power Plant is closed.
    34    § 3. Notwithstanding any other provision of law to the  contrary,  any
    35  corporation,  firm,  company,  partnership, limited liability company or
    36  association,  hereinafter  known  as  "purchaser"  with  a  contract  to
    37  purchase  the  Indian Point Nuclear Power Plant, to the extent practica-
    38  ble, shall maintain the current workforce through the conclusion of  the
    39  purchase  of  such  power  plant.    In  hiring  any new employees, such
    40  purchaser shall hire from a pool of  current  employees  at  the  Indian
    41  Point Nuclear Power Plant unless such purchaser proves to the department
    42  of labor that such employees' skills do not meet the requirements needed
    43  for  the  open  positions.  The  department  of  labor shall oversee the
    44  purchase, sale and employment practices  of  the  Indian  Point  Nuclear
    45  Power Plant.
    46    § 4. This act shall take effect immediately.