Ensures energy services companies are subject to the same consumer protection regulations regarding unclaimed deposits and refunds currently facing utility…

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Ensures energy services companies are subject to the same consumer protection regulations regarding unclaimed deposits and refunds currently facing utility companies

The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.

Latest action May 23, 2025

Ensures energy services companies are subject to the same consumer protection regulations regarding unclaimed deposits and refunds currently facing utility companies.

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Where it stands

Signed into law.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A6762, the matching bill in the Assembly.

Passed as A6762, the matching Assembly bill.

Amends the Abandoned Property Law.

Committee

Energy · New York State Assembly

Also referred to Finance · New York State Senate.

Purpose, from the sponsor's memo

To close a statutory loophole that allows ESCOs to retain unclaimed customer deposits or refunds, rather than remitting such unclaimed funds to the Abandoned Property Fund administered by the State comptroller.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateApr 30, 2025Result: passedSenate vote on A6762, the matching Assembly bill.
(60) (0) (0) (2)
Vote: Committee vote · Rules
Senate RulesApr 24, 2025Result: passed
(18) (0) (0) (3)

Cosponsors

Angelo Santabarbara, Jonathan Jacobson and 1 more on Agora

Democratic2
Republican1

See the full list on nysenate.gov

The sponsor's argument

Why Leroy Comrie says this is needed

This change would make it easier for ESCO customers to obtain their unclaimed funds and strengthen the deterrence effect of the Commission's ESCO enforcement orders. The unclaimed funds would not be remitted to the comptroller unless the ESCO's efforts to contact the rightful owner have failed. Given how often ESCO customers tend to switch service providers, ESCOs' customer contact information is especially prone to going stale. This reduces the likelihood that ESCOs will be able to find the funds' rightful owners. In addition, some ESCOs may have only short connections to New York: ESCOs may abandon their New York presence, or their eligibility may be revoked. Exploiting the current statutory loophole, an ESCO may have little incentive to set aside funds for New York customers. A former customer is more likely to learn about their unclaimed funds from the state, which regularly publicizes its unclaimed funds recovery process, than from an ESCO with which the customer no longer has a relationship. This change would ensure that, when the Commission penalizes ESCO misconduct by ordering customer refunds, the ESCO cannot retain those funds indefinitely in spite of their miscon- duct. They will instead forfeit the funds, either to the rightful owner or, failing that, the comptroller. FISCAL IMPLICATION: None.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

May 23, 2025
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
May 23, 2025
Signed
SIGNED CHAP.129
NY Assembly
Apr 30, 2025
3RD Reading CAL.690
3RD READING CAL.690
NY Senate
Apr 30, 2025
Passed a chamber
PASSED SENATE
NY Senate
Apr 30, 2025
Substituted
SUBSTITUTED FOR S7230
NY Senate

Show full history (9 earlier events)

Apr 24, 2025
In committee
COMMITTEE DISCHARGED AND COMMITTED TO RULES
NY Senate
Apr 24, 2025
Ordered to Third Reading CAL.690
ORDERED TO THIRD READING CAL.690
NY Senate
Apr 8, 2025
Sent to the executive
DELIVERED TO SENATE
NY Assembly
Apr 8, 2025
Passed a chamber
PASSED ASSEMBLY
NY Assembly
Apr 8, 2025
Referred to committee
REFERRED TO FINANCE
NY Senate
Apr 8, 2025
Reported out of committee
REPORTED REFERRED TO RULES
NY Assembly
Apr 8, 2025
Rules Report CAL.147
RULES REPORT CAL.147
NY Assembly
Apr 4, 2025
Referred to committee
REFERRED TO FINANCE
NY Senate
Mar 12, 2025
Referred to committee
REFERRED TO ENERGY
NY Assembly

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 22, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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