A 9215: Prohibits the public service commission from approving a rate increase that entails a return on equity for capital projects that is above the prevailing ten-year treasury rate plus one percent.

  
  STATE OF NEW YORK ________________________________________________________________________ 9215 2025-2026 Regular Sessions  IN ASSEMBLY November 3, 2025 ___________ Introduced by M. of A. JACOBSON -- read once and referred to the Commit- tee on Corporations, Authorities and Commissions AN ACT to amend the public service law, in relation to limiting rate increases that entail a return on equity for capital projects The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The public service law is amended by adding a new section 2 114-b to read as follows: 3 § 114-b. Rate limitation; return of equity. 1. As used in this 4 section, "ten-year treasury rate" means the annual interest rate the 5 federal government pays on a ten-year treasury note. 6 2. In determining rates to be charged to customers, the commission 7 shall not approve a rate increase that entails a return on equity for 8 capital projects that is above the prevailing ten-year treasury rate 9 plus one percent. 10 § 2. This act shall take effect on the sixtieth day after it shall 11 have become a law and shall apply to the rate increases occurring on and 12 after such effective date. Effective immediately, the addition, amend- 13 ment and/or repeal of any rule or regulation necessary for the implemen- 14 tation of this act on its effective date are authorized to be made and 15 completed on or before such effective date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13857-03-5