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

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-Amended.html

                STATE OF NEW YORK


                               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  --  committee  discharged, bill amended, ordered reprinted as
          amended and recommitted to said committee

        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 gas corporations, electric  corporations,  water-works  corpo-
          rations 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 gas corporation, electric corporation,  water-works
     5  corporation,  or  service provider with a gross annual operating revenue
     6  of more than one million dollars shall prepare and file with the depart-
     7  ment, on or before October thirty-first of  each  year,  a  compensation
     8  statement showing for the preceding calendar 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  gas corporation, electric corporation,
    14  water-works corporation or service provider; or any  other  officer  who
    15  performs  a  policy  making  function,  or any other person who performs
    16  similar policy making  functions  for  such  gas  corporation,  electric
    17  corporation, water-works corporation, or service provider who receives a
    18  compensation  at the rate of one hundred twenty-five thousand dollars or
    19  more per annum; and
    20    b. the proportion of the compensation disclosed in paragraph a of this
    21  subdivision, that is paid, directly or indirectly, by the ratepayers.

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

        S. 1544--A                          2

     1    2. Any gas corporation, electric corporation, water-works corporation,
     2  or service provider with a gross annual operating revenue of  more  than
     3  one million dollars shall provide a compensation statement for six years
     4  preceding  the effective date of this section. Such report shall contain
     5  the information specified in subdivision one of this section.
     6    3.  The compensation statement for each such gas corporation, electric
     7  corporation, water-works corporation or service provider shall  be  made
     8  publicly available on the department's 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.