Bill Text: NY A03755 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to the annual reports required to be filed by gas and electric corporations.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2018-01-24 - enacting clause stricken [A03755 Detail]

Download: New_York-2017-A03755-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          3755
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    January 30, 2017
                                       ___________
        Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
          tee on Corporations, Authorities and Commissions
        AN  ACT  to  amend the public service law, in relation to annual reports
          required to be filed by gas and electric corporations
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivision 6 of section 66 of the public service law, as
     2  amended by chapter 784 of the laws  of  1923,  is  amended  to  read  as
     3  follows:
     4    6.  [Require]  Notwithstanding  any  other rule, regulation, or order,
     5  require every person and corporation under its supervision and it  shall
     6  be  the  duty  of  every  such  person  and corporation to file with the
     7  commission an annual report, verified by  the  oath  of  the  president,
     8  vice-president,  treasurer,  secretary, general manager, or receiver, if
     9  any, thereof, or by the person required to file the same. The  verifica-
    10  tion  shall  be  made by said official holding office at the time of the
    11  filing of said report, and if not made upon the knowledge of the  person
    12  verifying  the  same  shall set forth the sources of his information and
    13  the grounds of his belief as to any matters not stated  to  be  verified
    14  upon  his  knowledge.  The report shall show in detail (a) the amount of
    15  its authorized capital stock and the amount thereof issued and outstand-
    16  ing; (b) the amount of its authorized bonded indebtedness and the amount
    17  of its bonds and other forms of  evidence  of  indebtedness  issued  and
    18  outstanding;  (c)  its  receipts  and  expenditures during the preceding
    19  year; (d) the amount paid as dividends upon its stock  and  as  interest
    20  upon  its  bonds; (e) the names of its officers and the aggregate amount
    21  paid as salaries to them and the amount paid as wages to its  employees;
    22  (f)  the  location  of  its  plant  or  plants  and  system, with a full
    23  description of its property and franchises, stating in detail  how  each
    24  franchise  stated  to  be  owned  was acquired; and (g) such other facts
    25  pertaining to the operation and maintenance of the plant and system, and
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07488-01-7
        A. 3755                             2
     1  the affairs of such person or corporation as  may  be  required  by  the
     2  commission.  Such  reports shall be in the form, cover the period and be
     3  filed at the time prescribed by the commission. The commission may, from
     4  time  to time, make [changes and] additions in such forms. When any such
     5  report is defective or believed to be erroneous,  the  commission  shall
     6  notify  the  person,  corporation  or municipality making such report to
     7  amend the same within a time prescribed  by  the  commission.  Any  such
     8  person  or  corporation  or municipality which shall neglect to make any
     9  such report or which shall fail to correct any such  report  within  the
    10  time  prescribed  by  the commission shall be liable to a penalty of one
    11  hundred dollars and an additional penalty of  one  hundred  dollars  for
    12  each day after the prescribed time for which it shall neglect to file or
    13  correct  the same, to be sued for in the name of the people of the state
    14  of New York. The amount recovered in any such action shall be paid  into
    15  the  state  treasury and be credited to the general fund. The commission
    16  may extend the time prescribed for cause shown.
    17    § 2. This act shall take effect immediately.