Bill Text: NY S01544 | 2021-2022 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Requires a compensation statement to be filed annually with the public service commission by any public utility corporation or service provider with a gross annual operating revenue of more than one million dollars.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Passed) 2021-12-31 - APPROVAL MEMO.165 [S01544 Detail]

Download: New_York-2021-S01544-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          1544

                               2021-2022 Regular Sessions

                    IN SENATE

                                    January 13, 2021
                                       ___________

        Introduced  by Sen. KAMINSKY -- read twice and ordered printed, and when
          printed to be committed to the Committee on  Energy  and  Telecommuni-
          cations

        AN  ACT  to amend the public service law and the public authorities law,
          in relation to requiring a  compensation  statement  to  be  filed  by
          certain public utility corporations and service providers

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The public service law is amended by adding a  new  section
     2  111-a to read as follows:
     3    §  111-a.  Additional  information  in  annual  reports; disclosure of
     4  compensation. 1. Any public utility corporation or service provider with
     5  a gross annual operating revenue of more than one million dollars  shall
     6  prepare  and file with the department, on or before October thirty-first
     7  of each year, a compensation statement showing for the preceding  calen-
     8  dar year:
     9    a.  the  names,  titles,  and duties of all executive officers and the
    10  compensation received by each such executive officer.  For  purposes  of
    11  this  section  "executive  officer"  includes  the president, secretary,
    12  treasurer, and vice president in charge of a  principal  business  unit,
    13  division  or  function  of  such  public  utility corporation or service
    14  provider; or any other officer who performs a policy making function, or
    15  any other person who performs similar policy making functions  for  such
    16  public utility corporation or service provider;
    17    b. the names, titles and duties of all employees other than such offi-
    18  cers  described in paragraph a of this subdivision who receive a compen-
    19  sation at the rate of one hundred twenty-five thousand dollars  or  more
    20  per annum, and the compensation received by each such employee; and
    21    c.  the proportion of the compensation disclosed in paragraphs a and b
    22  of this subdivision, that is paid, directly or indirectly, by the  rate-
    23  payers.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01236-01-1

        S. 1544                             2

     1    2.  Any  public  utility  corporation or service provider with a gross
     2  annual operating revenue of more than one million dollars shall  provide
     3  a  compensation  statement for six years preceding the effective date of
     4  this section. Such report shall contain  the  information  specified  in
     5  subdivision one of this section.
     6    3. The compensation statement for each such public utility corporation
     7  or service provider shall be made publicly available on the department's
     8  website.
     9    § 2. Section 1020-f of the public authorities law, as added by chapter
    10  517  of the laws of 1986, is amended by adding a new subdivision (ii) to
    11  read as follows:
    12    (ii) The authority and the service provider shall assist and cooperate
    13  with the department of public service with respect to providing any data
    14  or information necessary to comply with section one hundred eleven-a  of
    15  the public service law.
    16    § 3. This act shall take effect immediately.
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