New York S 5687: Caps certain public utility profit margins at four percent

Bill Text

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S05687 Summary:

BILL NOS05687 

&nbsp

SAME ASSAME AS A07542

&nbsp

SPONSORSKOUFIS

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §65, Pub Serv L

&nbsp

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

Go to top S05687 Actions:

BILL NOS05687 

&nbsp

02/27/2025REFERRED TO ENERGY AND TELECOMMUNICATIONS

01/07/2026REFERRED TO ENERGY AND TELECOMMUNICATIONS

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Go to topS05687 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05687 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5687

 2025-2026 Regular Sessions

 IN SENATE

 February 27, 2025
 ___________

 Introduced by Sen. SKOUFIS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Energy and Telecommuni-
 cations

 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:

 1 Section 1. Section 65 of the public service law is amended by adding a
 2 new subdivision 1-a to read as follows:
 3 1-a. No public gas corporation, public electric corporation or munici-
 4 pality shall operate with a profit margin of more than four percent as
 5 measured on an annual basis. For the purposes of this subdivision, the
 6 term "profit margin" shall mean the return on equity, which shall be the
 7 return on the equity portion of the rate allowed by the commission.
 8 § 2. This act shall take effect on the first of January next succeed-
 9 ing the date on which it shall have become a law. Effective immediately,
 10 the addition, amendment and/or repeal of any rule or regulation neces-
 11 sary for the implementation of this act on its effective date are
 12 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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