MA S2162

Bill

Relative to transparency, accountability, and fairness impacting utility rates

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to transparency, accountability, and fairness impacting utility rates. Telecommunications, Utilities and Energy.

AI Summary

This bill aims to increase transparency, accountability, and fairness in utility rates by requiring public utility companies to disclose the annual total compensation of their Chief Executive Officer and the median annual total compensation of all their employees, including contractors, in Massachusetts. Publicly traded utilities with a CEO-to-median worker compensation ratio equal to or above 100:1 will be subject to a surtax, with a 10% surtax for a ratio between 100:1 and 250:1, and a 25% surtax for a ratio of 250:1 or higher. All taxes collected will be deposited into the Department of Utilities Disaster Mitigation Trust Fund. Utilities with a ratio above 100:1 will also be prohibited from raising rates until their pay ratio is in compliance with the 100:1 ratio.

Committee Categories

Transportation and Infrastructure

Sponsors (1)

Diana Dizoglio (D)*,

Last Action

Accompanied a study order, see S2715 (on 02/24/2022)

Official Document

https://malegislature.gov/Bills/192/S2162

(10 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S2162
Bill	https://malegislature.gov/Bills/192/S2162.pdf

Bill	Bill Name	Last Action	Type
H1111	To establish minimum reimbursement rate to insurance claimants	Accompanied a new draft, see H4868	Similar To
H1152	Reforming labor rates paid by insurance companies to auto repairers in the Commonwealth	Accompanied a study order, see H5235	Similar To
H2013	Relative to relief for the Municipal Affordable Housing Trust Fund	Accompanied a study order, see H5023	Similar To
H2587	Relative to Group Health Insurance Commission	Accompanied a study order, see H4960	Similar To
S1075	Relative to prejudgment interest rates	Accompanied a study order, see S2665	Similar To
S1159	Relative to a state minimum wage for municipal employees	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1931	Relative to equalizing the Department of Revenue interest rates	Accompanied H2956	Similar To
S2172	Relative to the protection of propane gas ratepayers	Accompanied a study order, see S2715	Similar To
S2715	Order relative to authorizing the joint committee on Telecommunications, Utilities and Energy to make an investigation and study of certain current Senate documents relative to telecommunications, utilities and energy issues	Discharged to the committee on Senate Rules	Replaced by
S401	Establishing adequate funding for residents of Massachusetts nursing homes	Accompanied a study order, see S2650	Similar To

Bill > S2162

MA S2162

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

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