Bill Text: NY S00608 | 2013-2014 | General Assembly | Introduced

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Bill Title: Increases the penalties imposed upon gas and electric utilities for failure to file or correct an annual report with the public service commission; such penalties shall not be more than one-tenth of 1% of the utilities' annual net revenue for each day of violation, but not to exceed $25,000 nor be less than $100.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO ENERGY AND TELECOMMUNICATIONS [S00608 Detail]

Download: New_York-2013-S00608-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          608
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by Sen. GIANARIS -- 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, in relation to penalties for the
         failure  of gas and electric corporations to file or correct an annual
         report
         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  every person and corporation under its supervision and it
    5  shall be the duty of every such person and corporation to file with  the
    6  commission  an  annual  report,  verified  by the oath of the president,
    7  vice-president, treasurer, secretary, general manager, or  receiver,  if
    8  any,  thereof, or by the person required to file the same. The verifica-
    9  tion shall be made by said official holding office at the  time  of  the
   10  filing  of said report, and if not made upon the knowledge of the person
   11  verifying the same shall set forth the sources of  his  information  and
   12  the  grounds  of  his belief as to any matters not stated to be verified
   13  upon his knowledge. The report shall show in detail (a)  the  amount  of
   14  its authorized capital stock and the amount thereof issued and outstand-
   15  ing; (b) the amount of its authorized bonded indebtedness and the amount
   16  of  its  bonds  and  other  forms of evidence of indebtedness issued and
   17  outstanding; (c) its receipts  and  expenditures  during  the  preceding
   18  year;  (d)  the  amount paid as dividends upon its stock and as interest
   19  upon its bonds; (e) the names of its officers and the  aggregate  amount
   20  paid  as salaries to them and the amount paid as wages to its employees;
   21  (f) the location of  its  plant  or  plants  and  system,  with  a  full
   22  description  of  its property and franchises, stating in detail how each
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01847-01-3
       S. 608                              2
    1  franchise stated to be owned was acquired;  and  (g)  such  other  facts
    2  pertaining to the operation and maintenance of the plant and system, and
    3  the  affairs  of  such  person  or corporation as may be required by the
    4  commission.  Such  reports shall be in the form, cover the period and be
    5  filed at the time prescribed by the commission. The commission may, from
    6  time to time, make changes and additions in such forms.  When  any  such
    7  report  is  defective  or believed to be erroneous, the commission shall
    8  notify the person, corporation or municipality  making  such  report  to
    9  amend  the  same  within  a  time prescribed by the commission. Any such
   10  person or corporation or municipality which shall neglect  to  make  any
   11  such  report  or  which shall fail to correct any such report within the
   12  time prescribed by the commission shall be liable to a  penalty  of  NOT
   13  MORE  THAN  ONE-TENTH  OF ONE PERCENT OF THE ANNUAL NET REVENUES OF SUCH
   14  PERSON, CORPORATION OR MUNICIPALITY FOR THE PAST YEAR, BUT NOT MORE THAN
   15  TWENTY-FIVE THOUSAND DOLLARS NOR LESS THAN one hundred  dollars  and  an
   16  additional  penalty  of  [one  hundred  dollars]  NOT MORE THAN THE SAME
   17  AMOUNT for each day after the prescribed time for which it shall neglect
   18  to file or correct the same, to be sued for in the name of the people of
   19  the state of New York. The amount recovered in any such action shall  be
   20  paid  into  the  state treasury and be credited to the general fund. The
   21  commission may extend the time prescribed for cause shown.
   22    S 2. This act shall take effect on the one hundred twentieth day after
   23  it shall have become a law. Provided, that the public service commission
   24  is immediately authorized and directed to  take  any  and  all  actions,
   25  including  but  not  limited to the promulgation of any necessary rules,
   26  necessary to fully implement the provisions of this act on its effective
   27  date.