Gov. David A. Paterson signed into law Tuesday a bill that will set aside profits from the sale by the New York Power Authority of unused hydropower earmarked for local industry to promote economic development in the region.

While lawmakers issued news releases and staged a news conference to hail the measure, it is unclear how significant the new law is.

Neither the Power Authority nor State Senate staff who worked on the bill responded to inquiries from The Buffalo News on how much money the law will generate for the region or explain the process and criteria by which funds will be designated.