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NY A07542
Bill
Status
Introduced
4/1/2025
Primary Sponsor
Jonathan Jacobson
Click for details
AI Summary
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Caps the profit margin for public gas corporations, public electric corporations, and municipalities at 4% annually
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Defines "profit margin" as return on equity, specifically the return on the equity portion of the rate allowed by the Public Service Commission
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Amends Section 65 of the Public Service Law by adding a new subdivision 1-a
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Takes effect on January 1 following enactment, with immediate authorization for agencies to develop necessary implementing regulations
Legislative Description
Caps public gas corporations, public electric corporations and municipal gas and electric companies at a profit margin of four percent per year.
Last Action
referred to energy
1/7/2026
Committee Referrals
Energy4/1/2025
Full Bill Text
No bill text available