Amendments to LIPA Bill
- Authorize LIPA and PSEG to amend Operating Service Agreement without being subject to Office State Comptroller approval and public bidding: provided that final agreement would be subject to Department of Public Service review and recommendation.
- Office State Comptroller would have pre-approval of LIPA contracts and public bidding would remain: but Office State Comptroller would not have pre-approval over contracts between PSEG and third parties
- Ability for Department of Public Service to make recommendations on incentive compensation and liability for imprudent/unreasonable storm costs
- Cannot modify or recommend modify of underlying contract compensation
- LIPA staffing at minimum levels
- 9 member LIPA board (5 appointed from Governor and 4 from Legislature)
- PSEG would be required to post contracts semi-annually over $250K on website
- Securitization: Public Authorities Control Board review 30 days up or down
- Eliminate $26 million state franchise tax
- PILOT cap at 2% increase
- Aspirational renewable /solar language including maintaining programs recently approved by LIPA board. 100MW solar feed-in, 20 MW renewable feed-in tariff and 280 MW renewable RFP
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