senate Bill S1049

2011-2012 Legislative Session

Requires the public service commission to review compensation paid to certain high level policy making employees of gas or electric corporations

download bill text pdf

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Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to energy and telecommunications
Jan 05, 2011 referred to energy and telecommunications

Co-Sponsors

S1049 - Details

Law Section:
Public Service Law
Laws Affected:
Add §5-a, Pub Serv L; amd §§1004 & 1020-e, Pub Auth L
Versions Introduced in 2009-2010 Legislative Session:
S4034

S1049 - Summary

Requires the public service commission to review at least once every three years, compensation paid to certain high level policy making employees of gas and/or electric corporations where such corporations have a gross annual income in excess of fifty million dollars.

S1049 - Sponsor Memo

S1049 - Bill Text download pdf

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

                                  1049

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  Sens. PARKER, PERKINS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Energy and  Tele-
  communications

AN  ACT  to amend the public service law and the public authorities law,
  in relation to requiring the public  service  commission  to  annually
  review  the compensation and benefits paid to certain officers, direc-
  tors and high-level employees of certain gas or electric corporations

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1. The legislature hereby finds and declares that the compen-
sation and benefits provided to certain officers, directors,  and  high-
level  managerial  employees of certain gas or electric corporations may
be excessive and out of proportion with objective measures  of  perform-
ance,  equity, and fairness. Some top executives of certain gas or elec-
tric corporations have inflated their compensation, even as the  custom-
ers they serve continue to struggle with the burdens of wage stagnation.
  Establishing  control over levels of compensation and benefits paid to
high-level managerial employees of certain gas or electric  corporations
is  clearly  in the public interest. By doing so, the state will be able
to provide assurance to the ratepayer that his or her  dollars  are  not
being spent on exorbitant salaries for top executives of gas or electric
corporations.
  It  is  the  purpose of this legislation to require the public service
commission to review the  proposed  salary  and  benefits  of  officers,
directors  and  high-level managerial executives of certain gas or elec-
tric corporations and, based on  enumerated  criteria,  either  approve,
modify or reject such proposed salaries and benefits.
  S  2. The public service law is amended by adding a new section 5-a to
read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02124-01-1

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