HB 1275 Summary

• Requires charitable trusts engaged in utility service to report proposed executive compensation annually in their third quarterly accounting, which the city controller must forward to designated local officials.

• Authorizes the mayor, fiscal body president, or minority party leader of a consolidated city to petition probate court for review of proposed executive compensation within 30 days of notification.

• Court must approve or reject proposed compensation within 30 days based on whether it is reasonable considering the trust's charitable purposes and compared to compensation at similarly sized municipal utilities.

• If court rejects a revised compensation proposal, the court shall determine the executive officer compensation for the following calendar year, with findings conclusive subject to appeal rights.

• Applies to compensation paid after December 31, 2014, and becomes effective July 1, 2014.