New York S 8915: Relates to prohibiting the registration of mortgages in default prior to the filing of a notice of pendency

Bill Text

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S08915 Summary:

BILL NOS08915 

&nbsp

SAME ASSAME AS A09426

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SPONSORMAY

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COSPNSR

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MLTSPNSR

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Amd §§66, 44 & 65, add §§66-x & 66-y, Pub Serv L

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Stabilizes electric costs for New York consumers; restricts unreasonable rate and fee increases; establishes additional auditing and enforcement authorities.

Go to top S08915 Actions:

BILL NOS08915 

&nbsp

01/15/2026REFERRED TO ENERGY AND TELECOMMUNICATIONS

Go to topS08915 Committee&nbspVotes:

Go to topS08915 Floor&nbspVotes:

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

Go to topS08915 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8915

 IN SENATE

 January 15, 2026
 ___________

 Introduced by Sen. MAY -- 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 stabilizing elec-
 tric costs for New York consumers, restricting unreasonable rate and
 fee increases, and establishing additional auditing and enforcement
 authorities

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

 1 Section 1. Legislative findings and intent. The legislature finds that
 2 residents, small businesses, and local governments across New York face
 3 disproportionate increases in electricity rates, transmission fees, and
 4 miscellaneous surcharges. These increases burden working families,
 5 hinder economic development, and threaten the ability of seniors to age
 6 in place.
 7 The legislature further finds that opaque fee structures and inade-
 8 quate regulatory scrutiny contribute to unjustified costs.
 9 It is the intent of this act to:
 10 1. Cap and stabilize electric rate increases;
 11 2. Restrict hidden and excessive add-on fees;
 12 3. Create real-time oversight through independent audits; and
 13 4. Ensure accountability from utilities operating in the region.
 14 § 2. Subdivision 12 of section 66 of the public service law is amended
 15 by adding a new paragraph (m) to read as follows:
 16 (m) (i) The commission shall not approve any rate increase which would
 17 increase residential or small business electricity rates by more than
 18 two and one-half percent as measured on an annual basis unless the rate
 19 increase is necessary to maintain reliability of electricity and proof
 20 has been provided to the commission that all potential internal cost
 21 savings measures have been exhausted.
 22 (ii) In the event that a rate increase of more than two and one-half
 23 percent is proposed to the commission, the commission shall pause any
 24 actions relating to approving such rate increase for no less than one
 25 hundred eighty days. During such one hundred eighty day pause, the

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14177-01-5

 S. 8915 2

 1 commission and the utility accountability and audit unit shall conduct
 2 an enhanced review of the electric utility and the proposed rate
 3 increase.
 4 (iii) This paragraph shall also apply to all transmission charges,
 5 delivery fees, and add-on surcharges which shall be individually justi-
 6 fied and subject to the same requirements under this paragraph unless
 7 tied to federally mandated reliability requirements.
 8 § 3. Section 44 of the public service law is amended by adding a new
 9 subdivision 8 to read as follows:
 10 8. (a) Every electric utility corporation, energy services company and
 11 municipality shall provide on each customer's monthly bill an itemized
 12 breakdown that includes, at a minimum:
 13 (i) the portion of the bill attributable to infrastructure costs,
 14 including transmission, distribution, and maintenance;
 15 (ii) the portion of the bill attributable to contributions,
 16 surcharges, or assessments directed to the New York Power Authority; and
 17 (iii) the portion of the bill attributable to other investments,
 18 surcharges, or fees as determined by the commission, including but not
 19 limited to renewable energy programs, energy efficiency initiatives, and
 20 public policy charges.
 21 (b) The commission shall promulgate regulations establishing uniform
 22 standards for the forma