Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to corporations, authorities and commissions |
Apr 06, 2009 |
referred to corporations, authorities and commissions |
Assembly Bill A7410
2009-2010 Legislative Session
Sponsored By
FIELDS
Archive: Last Bill Status - In Assembly Committee
- 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
Actions
2009-A7410 (ACTIVE) - Details
2009-A7410 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7410 2009-2010 Regular Sessions I N A S S E M B L Y April 6, 2009 ___________ Introduced by M. of A. FIELDS -- 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 the public service commission to annually review the compensation and benefits paid to certain officers, direc- tors and high-level employees of certain gas or electric corporations THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The legislature hereby finds and declares that the compen- sation and benefits provided to certain officers, directors, and high- level managerial employees of certain gas or electric corporations may be excessive and out of proportion with objective measures of perform- ance, equity, and fairness. Some top executives of certain gas or elec- tric corporations have inflated their compensation, even as the custom- ers they serve continue to struggle with the burdens of wage stagnation. Establishing control over levels of compensation and benefits paid to high-level managerial employees of certain gas or electric corporations is clearly in the public interest. By doing so, the state will be able to provide assurance to the ratepayer that his or her dollars are not being spent on exorbitant salaries for top executives of gas or electric corporations. It is the purpose of this legislation to require the public service commission to review the proposed salary and benefits of officers, directors and high-level managerial executives of certain gas or elec- tric corporations and, based on enumerated criteria, either approve, modify or reject such proposed salaries and benefits. S 2. The public service law is amended by adding a new section 5-a to read as follows: S 5-A. REVIEW OF COMPENSATION AND BENEFITS PROVIDED TO OFFICERS, DIRECTORS AND CERTAIN EMPLOYEES OF GAS OR ELECTRIC CORPORATIONS WITH GROSS INCOME EXCEEDING FIFTY MILLION DOLLARS ANNUALLY. 1. THE COMMISSION EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10816-01-9
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