Bill > S941

Introduced Session

The bill requires a public utility to file with the Board of Public Utilities (BPU), on or before March 31 of each year, a report on the audited finances, operations, and a compensation disclosure statement of every key employee, as that term is defined in the bill, of a public utility for the preceding calendar year, as prepared by an independent certified public accountant. The financial information required under the bill is to include an audited financial statement such as a balance sheet, statement of income or loss, a statement of changes in financial position, and any other financial information of the public utility the BPU may require. Information on the operations of the public utility are to include, but not be limited to, investments in the public utility infrastructure and any other information concerning the operations of the public utility the BPU may require. As part of the report required under the bill, a public utility is to annually file a compensation disclosure statement of every key employee of the public utility. The compensation disclosure statement is to include base compensation, bonus and incentive compensation, retirement and other reportable compensation, and nontaxable benefits of the key employee of the public utility. The bill requires the BPU to provide on its Internet website the information received from the public utility within 30 days of receiving that information from the public utility. The provisions of the bill are not to apply to any information submitted to the BPU that the BPU determines is a trade secret, an energy trade secret, proprietary commercial or financial information, or information, which if disclosed, would be likely to cause damage to either a competitive or bidding position or national security.

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Brian Stack (D)*, 

Introduced in the Senate, Referred to Senate Economic Growth Committee (on 01/27/2020)