Establishes the downstate New York power authority to own and operate electricity service and acquire the distribution facilities formerly owned by.

The bill establishes the downstate New York power authority to own and operate electricity service and acquire the distribution facilities formerly owned by any downstate utility corporation. The authority will have powers to develop, acquire, construct, and operate facilities for the distribution of electric power, enter into contracts, issue bonds, and make payments in lieu of taxes. It will also have the power to exercise eminent domain and acquire property or assets of downstate utility corporations.

Establishes the downstate New York power authority to own and operate electricity service and acquire the distribution facilities formerly owned by.

The bill establishes the downstate New York power authority to own and operate electricity service and acquire the distribution facilities formerly owned by any downstate utility corporation. The authority will have powers to develop, acquire, construct, and operate facilities for the distribution of electric power, enter into contracts, issue bonds, and make payments in lieu of taxes. It will also have the power to exercise eminent domain and acquire property or assets of downstate utility corporations.