Senate Bill S2482

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

                                  2482

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 23, 2015
                               ___________

Introduced by Sens. GIANARIS, KRUEGER -- 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, 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:

  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 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07762-01-5
              

S. 2482                             2

pertaining to the operation and maintenance of the plant and system, and
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 NOT
MORE THAN ONE-TENTH OF ONE PERCENT OF THE ANNUAL NET  REVENUES  OF  SUCH
PERSON, CORPORATION OR MUNICIPALITY FOR THE PAST YEAR, BUT NOT MORE THAN
TWENTY-FIVE  THOUSAND  DOLLARS  NOR LESS THAN one hundred dollars and an
additional penalty of [one hundred  dollars]  NOT  MORE  THAN  THE  SAME
AMOUNT 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 on the one hundred twentieth day after
it shall have become a law. Provided, that the public service commission
is  immediately  authorized  and  directed  to take any and all actions,
including but not limited to the promulgation of  any  necessary  rules,
necessary to fully implement the provisions of this act on its effective
date.