Senate Bill S7435A

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 7435--A                                            A. 9044--A
     Cal. No. 719
 
                       S E N A T E - A S S E M B L Y
 
                             January 18, 2018
                                ___________
 
 IN  SENATE  --  Introduced  by  Sens.  LAVALLE, GRIFFO -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Energy  and Telecommunications -- reported favorably from said commit-
   tee, ordered to first and second report, ordered to a  third  reading,
   amended  and  ordered  reprinted,  retaining its place in the order of
   third reading
 
 IN ASSEMBLY -- Introduced by M. of A. ENGLEBRIGHT, LAVINE, THIELE, McDO-
   NALD, SEAWRIGHT, GUNTHER, D'URSO, SIMON, M. G. MILLER, COLTON,  SKOUF-
   IS,  GALEF, HUNTER, JAFFEE, ZEBROWSKI, PICHARDO, LIFTON, CAHILL, GOTT-
   FRIED, CRESPO, JENNE, ABINANTI, GLICK, RICHARDSON, DAVILA, RA,  STECK,
   BUCHWALD,  NIOU  -- Multi-Sponsored by -- M. of A.  DE LA ROSA, SCHIM-
   MINGER -- read once and referred to  the  Committee  on  Corporations,
   Authorities  and Commissions -- reported and referred to the Committee
   on Ways and Means  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  direct  the public service commission and the department of
   public service to study and report upon the potential to pass the  tax
   savings  incurred  by  public  utility  companies  to  ratepayers; and
   providing for the repeal of such provisions upon the expiration there-
   of
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The public service commission shall examine, evaluate and
 make recommendations in  consultation  with  the  department  of  public
 service,  who  shall  also  examine,  evaluate  and make recommendations
 concerning the tax savings caused by federal  tax  reform,  pursuant  to
 Public Law No. 115-97 enacted on December 22, 2017, of any public utili-
 ty  company  as  defined  in  subdivision  23 of section 2 of the public
 service law including any parent company, subsidiary thereof  or  affil-
 iate  and  any public authority created under the public authorities law
 who contracts with for-profit utility companies including such  for-pro-
 fit  utility companies, parent company, subsidiary thereof or affiliate.
 The commission and the department shall study specifically whether  such
 
              

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14128-04-8

 S. 7435--A                          2                         A. 9044--A
 
 tax  savings  should be passed on to ratepayers of such companies in the
 form of refunds or decreased rates, and should make  recommendations  on
 the  regulatory  and  statutory provisions necessary to make passing the
 savings to ratepayers possible.
   §  2.  The  public  service  commission shall hold at least two public
 hearings in the state for the purpose of conducting their duties  pursu-
 ant to section one of this act.
   §  3. On or before the ninetieth day after this act shall take effect,
 the public service commission and the department of public service shall
 submit a report of their findings, conclusions  and  recommendations  to
 the governor and the legislature, and shall submit with such report such
 regulatory  and  legislative  proposals as deemed necessary to implement
 such recommendations.
   § 4. This act shall take effect immediately and shall  expire  and  be
 deemed repealed January 1, 2019.