Bill > SF2074

This bill limits the amount of executive compensation that can be recovered from Minnesota ratepayers for large public utilities with at least 300,000 retail customers in the state. Specifically, the bill prohibits the Public Utilities Commission from allowing ratepayers to pay for compensation to a utility's top ten highest-paid officers or employees that exceeds the governor's annual salary. The definition of compensation is broad, including salary, incentive payments, and other forms of compensation, but excluding standard expense reimbursements and benefits offered equally to all employees. While the bill caps the amount chargeable to ratepayers, it does not prevent the utility from paying higher salaries using funds from other sources like investor contributions. The legislation aims to protect consumers from bearing the full cost of potentially excessive executive compensation, with the effective date being the day after final enactment and applying to rate filings submitted on or after that date. This approach seeks to balance fair compensation for utility executives with protecting ratepayers from unreasonable costs.

Agriculture and Natural Resources

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2074&ssn=0&y=2025