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.
STATE OF NEW YORK
________________________________________________________________________
10976
IN ASSEMBLY
September 9, 2020
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Thiele) --
read once and referred to the Committee on Corporations, Authorities
and Commissions
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:
1 Section 1. The public service law is amended by adding a new section
2 111-a to read as follows:
3 § 111-a. Additional information in annual reports; disclosure of
4 compensation. 1. Any public utility corporation or service provider with
5 a gross annual operating revenue of more than one million dollars shall
6 prepare and file with the department, on or before October thirty-first
7 of each year, a compensation statement showing for the preceding calen-
8 dar year:
9 a. the names, titles, and duties of all executive officers and the
10 compensation received by each such executive officer. For purposes of
11 this section "executive officer" includes the president, secretary,
12 treasurer, and vice president in charge of a principal business unit,
13 division or function of such public utility corporation or service
14 provider; or any other officer who performs a policy making function, or
15 any other person who performs similar policy making functions for such
16 public utility corporation or service provider;
17 b. the names, titles and duties of all employees other than such offi-
18 cers described in paragraph a of this subdivision who receive a compen-
19 sation at the rate of one hundred twenty-five thousand dollars or more
20 per annum, and the compensation received by each such employee; and
21 c. the proportion of the compensation disclosed in paragraphs a and b
22 of this subdivision, that is paid, directly or indirectly, by the rate-
23 payers.
24 2. Any public utility corporation or service provider with a gross
25 annual operating revenue of more than one million dollars shall provide
26 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.
LBD17172-05-0
A. 10976 2
1 this section. Such report shall contain the information specified in
2 subdivision one of this section.
3 3. The compensation statement for each such public utility corporation
4 or service provider shall be made publicly available on the department's
5 website.
6 § 2. Section 1020-f of the public authorities law, as added by chapter
7 517 of the laws of 1986, is amended by adding a new subdivision (ii) to
8 read as follows:
9 (ii) The authority and the service provider shall assist and cooperate
10 with the department of public service with respect to providing any data
11 or information necessary to comply with section one hundred eleven-a of
12 the public service law.
13 § 3. This act shall take effect immediately.
