Bill Text: NY S08937 | 2019-2020 | General Assembly | Introduced

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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: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-08-21 - REFERRED TO RULES [S08937 Detail]

Download: New_York-2019-S08937-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8937

                    IN SENATE

                                     August 21, 2020
                                       ___________

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

        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.
    24    2. Any public utility corporation or service  provider  with  a  gross
    25  annual  operating revenue of more than one million dollars shall provide
    26  a compensation statement for six years preceding the effective  date  of

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD17172-05-0
        S. 8937                             2

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