|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Aug 21, 2020||referred to rules|
senate Bill S8937
Archive: Last Bill Status - In Senate Committee Rules Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S8937 (ACTIVE) - Details
S8937 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8937 SPONSOR: KAMINSKY TITLE OF BILL: 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 PURPOSE: To allow the public to review executive compensation of public utili- ties. SUMMARY OF PROVISIONS: Section 1 adds a new section to the public service law, to require public utilities and service providers to annually, and for five years prior, disclose executive compensation and the compensation for employ- ees making over $125,000. The department will be required to publish this information on their website.
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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