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Assembly Bill A9215

2025-2026 Legislative Session

Relates to limiting rate increases that entail a return on equity for capital projects

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Current Bill Status - In Assembly Committee

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2025-A9215 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Service Law
Laws Affected:
Add §114-b, Pub Serv L

2025-A9215 (ACTIVE) - Summary

Prohibits the public service commission from approving a rate increase that entails a return on equity for capital projects that is above the prevailing ten-year treasury rate plus one percent.

2025-A9215 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9215
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             November 3, 2025
                                ___________
 
 Introduced by M. of A. JACOBSON -- read once and referred to the Commit-
   tee on Corporations, Authorities and Commissions
 
 AN  ACT  to  amend  the public service law, in relation to limiting rate
   increases that entail a return on equity for capital projects
 
   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
 114-b to read as follows:
   § 114-B. RATE LIMITATION;  RETURN  OF  EQUITY.  1.  AS  USED  IN  THIS
 SECTION,  "TEN-YEAR  TREASURY  RATE"  MEANS THE ANNUAL INTEREST RATE THE
 FEDERAL GOVERNMENT PAYS ON A TEN-YEAR TREASURY NOTE.
   2. IN DETERMINING RATES TO BE CHARGED  TO  CUSTOMERS,  THE  COMMISSION
 SHALL  NOT  APPROVE  A RATE INCREASE THAT ENTAILS A RETURN ON EQUITY FOR
 CAPITAL PROJECTS THAT IS ABOVE THE  PREVAILING  TEN-YEAR  TREASURY  RATE
 PLUS ONE PERCENT.
   §  2.  This  act  shall take effect on the sixtieth day after it shall
 have become a law and shall apply to the rate increases occurring on and
 after such effective date. Effective immediately, the  addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  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.
                                                            LBD13857-03-5

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