N.Y. Public Service Law § 111-a: Additional information in annual reports; disclosure of compensation

§ 111-a. Additional information in annual reports; disclosure of

compensation. 1. Every gas corporation, electric corporation, steam

corporation, and water-works corporation whose rates are regulated by

the commission, and having a gross annual operating revenue of more than

one million dollars shall prepare and include in its annual report filed

with the department a compensation statement showing for the preceding

calendar year:

a. the names, titles, and duties of all executive officers and

directors and the compensation received by each such executive officer

and director; and

b. the estimated proportion of the compensation disclosed in

accordance with this subdivision, that is paid, directly or indirectly,

by the ratepayers to the extent such proportion is reasonably

calculable.

2. For purposes of this section:

a. "Compensation" means salary, deferred compensation, incentive pay,

stock options, life insurance premiums and any change in actuarial value

of accumulated pension benefits for the reporting period.

b. "Executive officer" means the president, secretary, treasurer, and

vice president in charge of a principal business unit, division or

function of such gas corporation, electric corporation, water-works

corporation or steam corporation, and any other officer who performs

similar policy-making functions for such gas corporation, electric

corporation, water-works corporation, or steam corporation and who

receives compensation at the rate of one hundred seventy-five thousand

dollars or more per annum.

3. The compensation statement for each such gas corporation, electric

corporation, steam corporation and water-works corporation shall be made

publicly available on the department's website not later than thirty

days after the date of the filing of the annual report required by

subdivision one of this section. The department shall post a

compensation statement for the Long Island power authority's service

provider containing the information listed in subdivision one of this

section annually on or before May first of each year. The department is

authorized to request and collect any information necessary from the

service provider to comply with the requirements of this subdivision.