NY State Senate Bill 2021-S1544A

Senate Bill S1544A

Signed By Governor

2021-2022 Legislative Session

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

download bill text pdf

Archive: Last Bill Status - Signed by Governor

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Dec 31, 2021	approval memo.165 signed chap.826
Dec 20, 2021	delivered to governor
Jun 07, 2021	returned to senate passed assembly
Jun 01, 2021	ordered to third reading rules cal.176 substituted for a4403
Feb 23, 2021	referred to corporations, authorities and commissions delivered to assembly passed senate
Feb 08, 2021	advanced to third reading
Feb 03, 2021	2nd report cal.
Feb 02, 2021	1st report cal.254
Jan 27, 2021	print number 1544a
Jan 27, 2021	amend (t) and recommit to energy and telecommunications
Jan 13, 2021	referred to energy and telecommunications

Votes

- Feb 23, 2021 - Floor Vote
  S1544A
  
  51
  
  Aye
  
  12
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Feb 23, 2021
      
      aye (51)
      
      Addabbo Jr.
      
      Bailey
      
      Benjamin
      
      Biaggi
      
      Boyle
      
      Breslin
      
      Brisport
      
      Brooks
      
      Brouk
      
      Comrie
      
      Cooney
      
      Felder
      
      Gaughran
      
      Gianaris
      
      Gounardes
      
      Harckham
      
      Hinchey
      
      Hoylman-Sigal
      
      Jackson
      
      Kaminsky
      
      Kaplan
      
      Kavanagh
      
      Kennedy
      
      Krueger
      
      Lanza
      
      Liu
      
      Mannion
      
      Mattera
      
      May
      
      Mayer
      
      Myrie
      
      Palumbo
      
      Parker
      
      Persaud
      
      Ramos
      
      Reichlin-Melnick
      
      Ritchie
      
      Rivera
      
      Ryan
      
      Salazar
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serino
      
      Serrano
      
      Skoufis
      
      Stavisky
      
      Stewart-Cousins
      
      Tedisco
      
      Thomas
      
      Weik
      
      nay (12)
      
      Akshar
      
      Borrello
      
      Gallivan
      
      Griffo
      
      Helming
      
      Jordan
      
      Martucci
      
      O'Mara
      
      Oberacker
      
      Ortt
      
      Rath III
      
      Stec
  Feb 2, 2021 - Energy And Telecommunications Committee Vote
  S1544A
  
  9
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Energy And Telecommunications Committee Vote: Feb 2, 2021
      
      aye (9)
      
      Boyle
      
      Gaughran
      
      Harckham
      
      Hinchey
      
      Kavanagh
      
      Kennedy
      
      O'Mara
      
      Parker
      
      Ritchie

Bill Amendments

Original

A (Active)

2021-S1544 - Details

See Assembly Version of this Bill:: A4403
Law Section:: Public Service Law
Laws Affected:: Add §111-a, Pub Serv L; amd §1020-f, Pub Auth L
Versions Introduced in 2019-2020 Legislative Session:: S8937

2021-S1544 - 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.

2021-S1544 - Sponsor Memo

                                
 
BILL NUMBER: S1544

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.

Section 2. Amends public authorities to require LIPA and their service
provider to comply with the reporting requirement.

Section 3. Effective date.

 
JUSTIFICATION:

New Yorkers depend on utilities to provide essential services like elec-
tricity, water, and telecommunication. The delivery of these services is
regulated by the state, which also oversees the prices utilities can
charge their customers. Even with regulatory oversight over rates, these
large corporations reap large profits, yet so many provide inadequate
service, as was seen with Tropical Storm Isaias.  These profits are then
used to compensate the utility company's top employees, yet this salary
and bonus information is kept confidential.

Since ratepayers finance utility companies, it is only fair for them to
know how their money is being spent, including how much is being used to
compensate executives. Such information should be subject to public
review. Further, public oversight of salaries will only assist in devel-
oping a more transparent and objective process for setting executive
compensation through the rate-making process. The concept of requiring
utilities to provide this information is even more necessary for PSEG-LI
since it acts as a contractor for a public authority (LIPA) and LIPA's
salaries are already something disclosed to the public. During an August
2020 joint legislative hearing, PSEG-LI refused to disclose its execu-
tive compensation information.

This bill will improve the state's oversight of utilities by requiring
large utility companies and service providers - like PSEG-LI - to report
how much they compensate their executives on an annual basis. This
information will also be made publicly available on the Department of
Public Service's website.

 
LEGISLATIVE HISTORY:

None.
 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
Immediately.

2021-S1544 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1544
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2021
                                ___________
 
 Introduced  by Sen. KAMINSKY -- read twice and ordered printed, and when
   printed to be committed to the Committee on  Energy  and  Telecommuni-
   cations
 
 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD01236-01-1

 S. 1544                             2
 
   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
 THIS SECTION. SUCH REPORT SHALL CONTAIN  THE  INFORMATION  SPECIFIED  IN
 SUBDIVISION ONE OF THIS SECTION.
   3. THE COMPENSATION STATEMENT FOR EACH SUCH PUBLIC UTILITY CORPORATION
 OR SERVICE PROVIDER SHALL BE MADE PUBLICLY AVAILABLE ON THE DEPARTMENT'S
 WEBSITE.
   § 2. Section 1020-f of the public authorities law, as added by chapter
 517  of the laws of 1986, is amended by adding a new subdivision (ii) to
 read as follows:
   (II) THE AUTHORITY AND THE SERVICE PROVIDER SHALL ASSIST AND COOPERATE
 WITH THE DEPARTMENT OF PUBLIC SERVICE WITH RESPECT TO PROVIDING ANY DATA
 OR INFORMATION NECESSARY TO COMPLY WITH SECTION ONE HUNDRED ELEVEN-A  OF
 THE PUBLIC SERVICE LAW.
   § 3. This act shall take effect immediately.

co-Sponsors

2021-S1544A (ACTIVE) - Details

See Assembly Version of this Bill:: A4403
Law Section:: Public Service Law
Laws Affected:: Add §111-a, Pub Serv L; amd §1020-f, Pub Auth L
Versions Introduced in 2019-2020 Legislative Session:: S8937

2021-S1544A (ACTIVE) - Summary

2021-S1544A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S1544A

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
gas corporations, electric corporations, water-works 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 gas
corporations, electric corporations, water-work corporations, and
service providers to annually, and for five years prior, disclose execu-
tive compensation and the compensation for policymakers making over

$125,000. The department will be required to publish this information on
their website.

Section 2. Amends public authorities to require LIPA and their service
provider to comply with the reporting requirement.

Section 3. Effective date.

 
JUSTIFICATION:

New Yorkers depend on utilities to provide essential services like elec-
tricity, water, and telecommunication. The delivery of these services is
regulated by the state, which also oversees the prices utilities can
charge their customers. Even with regulatory oversight over rates, these
large corporations reap large profits, yet so many provide inadequate
service, as was seen with Tropical Storm Isaias.  These profits are then
used to compensate the utility company's top employees, yet this salary
and bonus information is kept confidential.

Since ratepayers finance utility companies, it is only fair for them to
know how their money is being spent, including how much is being used to
compensate executives. Such information should be subject to public
review. Further, public oversight of salaries will only assist in devel-
oping a more transparent and objective process for setting executive
compensation through the rate-making process. The concept of requiring
utilities to provide this information is even more necessary for PSEG-LI
since it acts as a contractor for a public authority (LIPA) and LIPA's
salaries are already something disclosed to the public. During an August
2020 joint legislative hearing, PSEG-LI refused to disclose its execu-
tive compensation information.

This bill will improve the state's oversight of utilities by requiring
large utility companies and service providers - like PSEG-LI - to report
how much they compensate their executives on an annual basis. This
information will also be made publicly available on the Department of
Public Service's website.

 
LEGISLATIVE HISTORY:
None.

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
Immediately.

2021-S1544A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1544--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2021
                                ___________
 
 Introduced  by Sen. KAMINSKY -- read twice and ordered printed, and when
   printed to be committed to the Committee on  Energy  and  Telecommuni-
   cations  --  committee  discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 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 gas corporations, electric  corporations,  water-works  corpo-
   rations 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 GAS CORPORATION, ELECTRIC CORPORATION,  WATER-WORKS
 CORPORATION,  OR  SERVICE PROVIDER WITH A GROSS ANNUAL OPERATING REVENUE
 OF MORE THAN ONE MILLION DOLLARS SHALL PREPARE AND FILE WITH THE DEPART-
 MENT, ON OR BEFORE OCTOBER THIRTY-FIRST OF  EACH  YEAR,  A  COMPENSATION
 STATEMENT SHOWING FOR THE PRECEDING CALENDAR 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  GAS CORPORATION, ELECTRIC CORPORATION,
 WATER-WORKS 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  GAS  CORPORATION,  ELECTRIC
 CORPORATION, WATER-WORKS CORPORATION, OR SERVICE PROVIDER WHO RECEIVES A
 COMPENSATION  AT THE RATE OF ONE HUNDRED TWENTY-FIVE THOUSAND DOLLARS OR
 MORE PER ANNUM; AND
   B. THE PROPORTION OF THE COMPENSATION DISCLOSED IN PARAGRAPH A OF THIS
 SUBDIVISION, THAT IS PAID, DIRECTLY OR INDIRECTLY, BY THE RATEPAYERS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD01236-02-1

 S. 1544--A                          2
 
   2. ANY GAS CORPORATION, ELECTRIC CORPORATION, WATER-WORKS 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 THIS SECTION. SUCH REPORT SHALL CONTAIN
 THE INFORMATION SPECIFIED IN SUBDIVISION ONE OF THIS SECTION.
   3.  THE COMPENSATION STATEMENT FOR EACH SUCH GAS CORPORATION, ELECTRIC
 CORPORATION, WATER-WORKS CORPORATION OR SERVICE PROVIDER SHALL  BE  MADE
 PUBLICLY AVAILABLE ON THE DEPARTMENT'S WEBSITE.
   § 2. Section 1020-f of the public authorities law, as added by chapter
 517  of the laws of 1986, is amended by adding a new subdivision (ii) to
 read as follows:
   (II) THE AUTHORITY AND THE SERVICE PROVIDER SHALL ASSIST AND COOPERATE
 WITH THE DEPARTMENT OF PUBLIC SERVICE WITH RESPECT TO PROVIDING ANY DATA
 OR INFORMATION NECESSARY TO COMPLY WITH SECTION ONE HUNDRED ELEVEN-A  OF
 THE PUBLIC SERVICE LAW.
   § 3. This act shall take effect immediately.

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Senate Bill S1544A

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Sponsored By

Todd Kaminsky