Bill > S1504

This bill establishes pay caps for certain employees at quasi-public agencies, referred to as "state authorities" in the bill, which are defined as entities established to perform public functions. Specifically, it prohibits "at-will" employees (those whose employment can be terminated at any time by the employer) of these state authorities from receiving salaries or wages higher than the Governor's salary. Furthermore, any new contracts entered into by state authorities after the bill's passage cannot offer compensation exceeding the Governor's salary. To ensure accountability, all state authorities must submit a report by December 31, 2013, to the legislative committees responsible for budget oversight (Ways and Means) detailing plans for salary reductions, wage freezes, furloughs, and employee reductions. However, state authorities can exceed these compensation limits if they provide advance notice to the Governor, Treasurer, Auditor, relevant legislative committees, and the public, explaining the reasons for the excess pay, and then allow for a 30-day public comment period and a public hearing on the proposed compensation.