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Senate Bill S8937

2019-2020 Legislative Session

Relates to requiring a compensation statement by certain public utility corporations and service providers

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Archive: Last Bill Status - In Senate Committee Rules Committee

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2019-S8937 (ACTIVE) - Details

See Assembly Version of this Bill:
A10976
Current Committee:
Senate Rules
Law Section:
Public Service Law
Laws Affected:
Add §111-a, Pub Serv L; amd §1020-f, Pub Auth L
Versions Introduced in 2021-2022 Legislative Session:
S1544

2019-S8937 (ACTIVE) - Summary

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.

2019-S8937 (ACTIVE) - Sponsor Memo

2019-S8937 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8937
 
                             I N  S E N A T E
 
                              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:
 
   Section  1.  The public service law is amended by adding a new section
 111-a to read as follows:
   § 111-A. ADDITIONAL  INFORMATION  IN  ANNUAL  REPORTS;  DISCLOSURE  OF
 COMPENSATION. 1. ANY PUBLIC UTILITY CORPORATION OR SERVICE PROVIDER WITH
 A  GROSS ANNUAL OPERATING REVENUE OF MORE THAN ONE MILLION DOLLARS SHALL
 PREPARE AND FILE WITH THE DEPARTMENT, ON OR BEFORE OCTOBER  THIRTY-FIRST
 OF  EACH YEAR, A COMPENSATION STATEMENT SHOWING FOR THE PRECEDING CALEN-
 DAR YEAR:
   A. THE NAMES, TITLES, AND DUTIES OF ALL  EXECUTIVE  OFFICERS  AND  THE
 COMPENSATION  RECEIVED  BY  EACH SUCH EXECUTIVE OFFICER. FOR PURPOSES OF
 THIS SECTION "EXECUTIVE  OFFICER"  INCLUDES  THE  PRESIDENT,  SECRETARY,
 TREASURER,  AND  VICE  PRESIDENT IN CHARGE OF A PRINCIPAL BUSINESS UNIT,
 DIVISION OR FUNCTION OF  SUCH  PUBLIC  UTILITY  CORPORATION  OR  SERVICE
 PROVIDER; OR ANY OTHER OFFICER WHO PERFORMS A POLICY MAKING FUNCTION, OR
 ANY  OTHER  PERSON WHO PERFORMS SIMILAR POLICY MAKING FUNCTIONS FOR SUCH
 PUBLIC UTILITY CORPORATION OR SERVICE PROVIDER;
   B. THE NAMES, TITLES AND DUTIES OF ALL EMPLOYEES OTHER THAN SUCH OFFI-
 CERS DESCRIBED IN PARAGRAPH A OF THIS SUBDIVISION WHO RECEIVE A  COMPEN-
 SATION  AT  THE RATE OF ONE HUNDRED TWENTY-FIVE THOUSAND DOLLARS OR MORE
 PER ANNUM, AND THE COMPENSATION RECEIVED BY EACH SUCH EMPLOYEE; AND
   C. THE PROPORTION OF THE COMPENSATION DISCLOSED IN PARAGRAPHS A AND  B
 OF  THIS SUBDIVISION, THAT IS PAID, DIRECTLY OR INDIRECTLY, BY THE RATE-
 PAYERS.
   2. ANY PUBLIC UTILITY CORPORATION OR SERVICE  PROVIDER  WITH  A  GROSS
 ANNUAL  OPERATING REVENUE OF MORE THAN ONE MILLION DOLLARS SHALL PROVIDE
 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.

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