NY A08666

Requires utilities to submit written reports to the legislature at least 180 days before any proposed increase in fees, rentals, and charges for services takes effect.

Reports must include justification for the proposed increase and information on the utility's current financial condition, with legislature able to request additional data as needed.

Prohibits any rate or charge increase from taking effect without approval by majority vote in both houses of the legislature, unless the legislature finds the increases are necessary for sufficient revenue to maintain and operate infrastructure.

Amends Public Service Law Section 66, Subdivision 12 by adding new paragraph (b-1) to establish these legislative approval requirements.

Takes effect immediately upon enactment.