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S5736Senate2011-2012 Session

Reduces the total amount that a utility can be assessed from one percent to one-third of one percent

Sponsor Michael H. RanzenhoferSD-61+2 co-sponsorsAffects Finance
Status
In Senate Committee
Finance
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Finance

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Who cares

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Sponsors

Primary sponsor
Michael H. Ranzenhofer

Senator · Senate District 61

Chair, Corporations, Authorities And Commissions

History

  1. Reported and committed to finance
  2. Referred to energy and telecommunications
  3. Returned to senate
  4. Died in assembly
  5. Referred to corporations, authorities and commissions
  6. Delivered to assembly
  7. Passed senateVote 60–2
  8. Ordered to third reading cal.1518
  9. Referred to rules

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S5736

Title of bill

An act to amend the public service law, in relation to reducing the amount a utility can be assessed

Purpose

The purpose of this legislation is to allow the 18-A utility assessment to revert back to the original one third of one percent when the two percent surcharge sunsets in 2014.

Summary of provisions

Section 1 amends paragraph (g) of subdivision 2 of section 18-a of the public service law reducing the base assessment from one percent to one third of one percent.

Existing law

Presently, the base assessment is one percent and the surcharge is two percent minus the amount of the base assessment; effectively a two percent total. The two percent surcharge is scheduled to sunset on March 31, 2014 at which time the 18-A assessment will be one percent.

Justification

In 2009, the 18-A assessment was raised from one third of one percent to two percent, six times the prior rate. This increase of nearly $600 million is not used for the purpose of funding the public service commission but rather is swept into the General Fund. This surcharge was enacted for five years at which time the two percent surcharge will expire. However, the assessment rate will not revert back to the original one third of one percent, it will revert back to one percent creating a permanent tax increase on New Yorkers utility bills.

Legislative history

New legislation.

Fiscal implications

None in the current fiscal year.

Local fiscal implications

None.

Effective date

Immediately.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.