New York A 1028: Requires all hospitals to establish, utilize and complete a checklist for each intensive care medical procedure performed in the hospital

Bill Text

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A01028 Summary:

BILL NOA01028 

&nbsp

SAME ASSAME AS S01896

&nbsp

SPONSORBarrett

&nbsp

COSPNSRKelles, Levenberg, Jacobson, Burdick, Shimsky, Otis, Steck

&nbsp

MLTSPNSR

&nbsp

Add §65-c, Pub Serv L

&nbsp

Requires electric corporations, gas corporations, steam corporations and water-works corporations to adopt the common equity ratio and rate of return on equity authorized by the public service commission unless such utility can successfully demonstrate that such authorized rates do not meet their capital and/or operating needs.

Go to top A01028 Actions:

BILL NOA01028 

&nbsp

01/08/2025referred to energy

01/07/2026referred to energy

Go to topA01028 Committee&nbspVotes:

Go to topA01028 Floor&nbspVotes:

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

Go to topA01028 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1028

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 8, 2025
 ___________

 Introduced by M. of A. BARRETT, KELLES, LEVENBERG, JACOBSON -- read once
 and referred to the Committee on Energy

 AN ACT to amend the public service law, in relation to requiring certain
 utilities to adopt the common equity ratio and rate of return on equi-
 ty authorized by the public service commission

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Legislative intent. The legislature finds and declares
 2 that:
 3 1. The increasing burden of high utility rates leaves New York resi-
 4 dents with extreme financial difficulties. Soaring electricity rates
 5 leave one in five New York residents at risk of having their electricity
 6 cut off. Meanwhile, the long-term trend of utilities receiving record
 7 profits threatens the livelihood of millions of New Yorkers who struggle
 8 to afford utility bills.
 9 2. The current process in which the public service commission (herein-
 10 after the "commission") and regulated utilities set rates for utility
 11 bills to ratepayers has historically been inaccessible and indeciphera-
 12 ble to the public and often runs contrary to the stated goals of the
 13 commission to ensure affordable, safe, secure, and reliable utility
 14 service for New York residential and business consumers.
 15 3. Regulated utilities are entitled to earn a fair and reasonable rate
 16 of return on their capital investments, pursuant to Supreme Court
 17 rulings in Federal Power Commission et al. v. Hope Natural Gas Co.
 18 (1944) and Bluefield Water Works and Improvement Co. v. Public Service
 19 Commission of West Virginia (1923). However, recent trends suggest that
 20 the "fair and reasonable" legal standard is not always reflected in
 21 actual utility rates for consumers. Aligning the incentives of regu-
 22 lated utilities and ratepayers is essential to protect the interests of
 23 all New York residents by establishing a more accurate standard for a
 24 regulated utility's right to earn a fair and reasonable rate of return.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00261-01-5

 A. 1028 2

 1 § 2. The public service law is amended by adding a new section 65-c to
 2 read as follows:
 3 § 65-c. Setting a rate of return on equity and common equity ratio. 1.
 4 Definitions. For the purposes of this section, the following terms shall
 5 have the following meanings:
 6 (a) "Regulated utility" means an "electric corporation", "gas corpo-
 7 ration", "steam corporation", or "water-works corporation" as defined in
 8 section two of this chapter.
 9 (b) "Generic financing methodology" means a standardized procedure for
 10 determining the authorized rates of return on equity and common equity
 11 ratios of utilities regulated by the commission.
 12 (c) "Authorized common equity ratio" means the authorized percentage
 13 of a utility's total capitalization, such as common equity, preferred
 14 stock, and long-term debt, that consists of common equity, retained
 15 earnings, and capital surplus.
 16 (d) "Actual common equity ratio" means the actual percentage of a
 17 utility's total capitalization, such as common equity, preferred stock,
 18 and long-term debt, that consists of common equity, retained earnings,
 19 and capital surplus.
 20