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Assembly Bill A7542

2025-2026 Legislative Session

Caps certain public utility profit margins at four percent

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Current Bill Status - In Assembly Committee

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2025-A7542 (ACTIVE) - Details

See Senate Version of this Bill:
S5687
Current Committee:
Assembly Energy
Law Section:
Public Service Law
Laws Affected:
Amd §65, Pub Serv L

2025-A7542 (ACTIVE) - Summary

Caps public gas corporations, public electric corporations and municipal gas and electric companies at a profit margin of four percent per year.

2025-A7542 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7542
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 1, 2025
                                ___________
 
 Introduced by M. of A. JACOBSON -- read once and referred to the Commit-
   tee on Energy
 
 AN  ACT  to amend the public service law, in relation to capping certain
   public utility profit margins at four percent
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 65 of the public service law is amended by adding a
 new subdivision 1-a to read as follows:
   1-A. NO PUBLIC GAS CORPORATION, PUBLIC ELECTRIC CORPORATION OR MUNICI-
 PALITY  SHALL  OPERATE WITH A PROFIT MARGIN OF MORE THAN FOUR PERCENT AS
 MEASURED ON AN ANNUAL BASIS.  FOR THE PURPOSES OF THIS SUBDIVISION,  THE
 TERM "PROFIT MARGIN" SHALL MEAN THE RETURN ON EQUITY, WHICH SHALL BE THE
 RETURN ON THE EQUITY PORTION OF THE RATE ALLOWED BY THE COMMISSION.
   §  2. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law. Effective immediately,
 the addition, amendment and/or repeal of any rule or  regulation  neces-
 sary  for  the  implementation  of  this  act  on its effective date are
 authorized to be made and completed on or before such effective date.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10064-01-5

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