Bill > A07429

This bill amends the New York Public Service Law to reduce the maximum assessment that can be charged to public utility companies and the Long Island Power Authority from one percent to one-third of one percent of their gross operating revenues from intrastate utility operations. The bill specifically modifies the existing law to lower the financial burden on utility companies by decreasing the amount they can be charged for the expenses of the Department of Public Service and the Public Service Commission. The change applies to both general utility companies and telephone corporations, with the latter having a specific calculation that considers revenues over $500,000. By reducing the assessment rate, the bill aims to provide financial relief to utility companies while still maintaining funding for regulatory oversight. The amendment is relatively straightforward and takes effect immediately upon passage.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A7429