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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to energy and telecommunications
- Referred to energy and telecommunications
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires the public service commission to review compensation paid to certain high level policy making employees of gas or electric corporations
In Assembly Committee · Corporations, Authorities And Commissions · Sponsor Ginny Fields
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the public service law and the public authorities law, in relation to requiring the public service commission to annually review the compensation and benefits paid to certain officers, directors and high-level employees of certain gas or electric corporations
Purpose or general idea of bill
The purpose of this bill is to provide a basis upon which reviews of compensation and benefits given to utility officers, directors, or high-level employees may be made to assure the ratepayer that his or her dollars are being spent in a fair and equitable manner. The review will be conducted at least every three years or upon any major rate increase. The bill requires the New York Power Authority trustees to review the salaries and benefits paid to officers, employees and the representatives in high-level managerial positions within the New York Power Authority every three years.
Summary of specific provisions
This bill would add a new section to the public service law, § 5-a. It would require the public service commission to review proposed salary and benefits of officers, directors and high-level managerial positions within the authority to determine that such salaries and benefits are just, reasonable and in the public's best interest.
Justification
Public utilities are granted the privilege of exercising a monopoly over their service territories. With this privilege comes the responsibility to provide safe, reliable, and affordable service to their customers. To continue financing "over compensated executives" with revenue generated from ratepayers places an undue burden on the public in the form of higher rates.
As employee salaries stagnate, it is neither fair nor equitable to raise utility rates further to provide top executives with unjustified levels of compensation. It is obviously in the public interest to establish controls over levels of compensation and benefits paid to high level policy making employees of public utilities.
Prior legislative history
1997-98: A.1501 - Passed Assembly, 2001-02: A.5213A Corporations, Authorities and Commissions, 2003-04: A.10905 - Corporations, Authorities and Commissions, 2005:06: A.7281 - Corporations, Authorities and Commissions, 2007-08: A.250 - Rules
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.