Bill > SB2

This bill, applicable to investor-owned electric, gas, and combination gas and electric companies, limits the costs these companies can recover from customers through their rates. Specifically, companies are prohibited from recovering costs related to industry trade association memberships, dues, sponsorships, or contributions, as well as costs associated with owning or leasing private planes. Furthermore, the bill restricts the recovery of costs for paying bonuses to employees, unless the employee has a written contract signed before December 31, 2025, or is covered by a collective bargaining agreement. It also caps compensation for supervisors at 110% of the maximum annual salary for a member of the Commission. The bill defines "bonus" as any additional payment or compensation to an employee beyond their base pay, including unlabelled compensation, discretionary incentive pay, and payments contingent on certain events. "Compensation" is defined broadly to include direct and indirect payments, cash and non-cash benefits, salary, bonuses, and severance pay, but excludes health, medical, life insurance, or disability pay. A "supervisor" is defined as an individual authorized to hire, fire, or discipline other employees, responsible for directing their work, or responding to their complaints, or who is employed in a bona fide executive capacity. Additionally, the bill mandates that the board of directors of each company must establish company-wide policies to reasonably limit expenditures on entertainment, events, office renovations, transportation, staff development, performance incentives, and other non-essential business activities. This Act is set to take effect on October 1, 2026.

Education

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0002?ys=2026RS