S T A T E O F N E W Y O R K
________________________________________________________________________
647
2013-2014 Regular Sessions
I N A S S E M B L Y
(PREFILED)
January 9, 2013
___________
Introduced by M. of A. HEVESI, MILLER, COLTON, STEVENSON, CASTRO, MOYA,
MAISEL -- Multi-Sponsored by -- M. of A. BOYLAND, BRENNAN, GLICK,
HEASTIE -- read once and referred to the Committee on Energy
AN ACT to amend the public service law, in relation to penalties for the
failure of gas and electric corporations to file or correct an annual
report
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 6 of section 66 of the public service law, as
amended by chapter 784 of the laws of 1923, is amended to read as
follows:
6. Require every person and corporation under its supervision and it
shall be the duty of every such person and corporation to file with the
commission an annual report, verified by the oath of the president,
vice-president, treasurer, secretary, general manager, or receiver, if
any, thereof, or by the person required to file the same. The verifica-
tion shall be made by said official holding office at the time of the
filing of said report, and if not made upon the knowledge of the person
verifying the same shall set forth the sources of his information and
the grounds of his belief as to any matters not stated to be verified
upon his knowledge. The report shall show in detail (a) the amount of
its authorized capital stock and the amount thereof issued and outstand-
ing; (b) the amount of its authorized bonded indebtedness and the amount
of its bonds and other forms of evidence of indebtedness issued and
outstanding; (c) its receipts and expenditures during the preceding
year; (d) the amount paid as dividends upon its stock and as interest
upon its bonds; (e) the names of its officers and the aggregate amount
paid as salaries to them and the amount paid as wages to its employees;
(f) the location of its plant or plants and system, with a full
description of its property and franchises, stating in detail how each
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01847-01-3
A. 647 2
franchise stated to be owned was acquired; and (g) such other facts
pertaining to the operation and maintenance of the plant and system, and
the affairs of such person or corporation as may be required by the
commission. Such reports shall be in the form, cover the period and be
filed at the time prescribed by the commission. The commission may, from
time to time, make changes and additions in such forms. When any such
report is defective or believed to be erroneous, the commission shall
notify the person, corporation or municipality making such report to
amend the same within a time prescribed by the commission. Any such
person or corporation or municipality which shall neglect to make any
such report or which shall fail to correct any such report within the
time prescribed by the commission shall be liable to a penalty of NOT
MORE THAN ONE-TENTH OF ONE PERCENT OF THE ANNUAL NET REVENUES OF SUCH
PERSON, CORPORATION OR MUNICIPALITY FOR THE PAST YEAR, BUT NOT MORE THAN
TWENTY-FIVE THOUSAND DOLLARS NOR LESS THAN one hundred dollars and an
additional penalty of [one hundred dollars] NOT MORE THAN THE SAME
AMOUNT for each day after the prescribed time for which it shall neglect
to file or correct the same, to be sued for in the name of the people of
the state of New York. The amount recovered in any such action shall be
paid into the state treasury and be credited to the general fund. The
commission may extend the time prescribed for cause shown.
S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law. Provided, that the public service commission
is immediately authorized and directed to take any and all actions,
including but not limited to the promulgation of any necessary rules,
necessary to fully implement the provisions of this act on its effective
date.