Assembly Bill A7306

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7306

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 29, 2011
                               ___________

Introduced  by M. of A. BRENNAN -- 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:

  Section 1. Subdivision 6 of section 66 of the public service  law,  as
amended  by  chapter  784  of  the  laws  of 1923, is amended to read as
follows:
  6. [Require] NOTWITHSTANDING ANY OTHER  RULE,  REGULATION,  OR  ORDER,
REQUIRE  every person and corporation under its supervision and it shall
be the duty of every such  person  and  corporation  to  file  with  the
commission  an  annual  report,  verified  by the oath of the president,
vice-president, treasurer, secretary, general manager, or  receiver,  if
any,  thereof, or by the person required to file the same. The verifica-
tion shall be made by said official holding office at the  time  of  the
filing  of said report, and if not made upon the knowledge of the person
verifying the same shall set forth the sources of  his  information  and
the  grounds  of  his belief as to any matters not stated to be verified
upon his knowledge. The report shall show in detail (a)  the  amount  of
its authorized capital stock and the amount thereof issued and outstand-
ing; (b) the amount of its authorized bonded indebtedness and the amount
of  its  bonds  and  other  forms of evidence of indebtedness issued and
outstanding; (c) its receipts  and  expenditures  during  the  preceding
year;  (d)  the  amount paid as dividends upon its stock and as interest
upon its bonds; (e) the names of its officers and the  aggregate  amount
paid  as salaries to them and the amount paid as wages to its employees;
(f) the location of  its  plant  or  plants  and  system,  with  a  full
description  of  its property and franchises, stating in detail how each
franchise stated to be owned was acquired;  and  (g)  such  other  facts
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.
                                                           LBD11072-01-1
              

A. 7306                             2

the  affairs  of  such  person  or corporation as may be required by the
commission. Such reports shall be in the form, cover the period  and  be
filed at the time prescribed by the commission. The commission may, from
time  to time, make [changes and] additions in such forms. When any such
report is defective or believed to be erroneous,  the  commission  shall
notify  the  person,  corporation  or municipality making such report to
amend the same within a time prescribed  by  the  commission.  Any  such
person  or  corporation  or municipality which shall neglect to make any
such report or which shall fail to correct any such  report  within  the
time  prescribed  by  the commission shall be liable to a penalty of one
hundred dollars and an additional penalty of  one  hundred  dollars  for
each day after the prescribed time for which it shall neglect to file or
correct  the same, to be sued for in the name of the people of the state
of New York. The amount recovered in any such action shall be paid  into
the  state  treasury and be credited to the general fund. The commission
may extend the time prescribed for cause shown.
  S 2. This act shall take effect immediately.