BILL ANALYSIS Ó SENATE COMMITTEE ON APPROPRIATIONS Senator Ricardo Lara, Chair 2015 - 2016 Regular Session AB 1266 (Gonzalez) - Electrical and gas corporations: excess compensation. ----------------------------------------------------------------- | | | | | | ----------------------------------------------------------------- |--------------------------------+--------------------------------| | | | |Version: May 4, 2015 |Policy Vote: E., U., & C. 7 - 3 | | | | |--------------------------------+--------------------------------| | | | |Urgency: No |Mandate: Yes | | | | |--------------------------------+--------------------------------| | | | |Hearing Date: August 27, 2015 |Consultant: Marie Liu | | | | ----------------------------------------------------------------- *********** ANALYSIS ADDENDUM - SUSPENSE FILE *********** The following information is revised to reflect amendments adopted by the committee on August 27, 2015 Bill Summary: AB 1266 would prohibit an electrical or gas corporation from recovering expenses for excess compensation, as defined, from ratepayers if there have been safety violations that result in over $5,000,000 in ratepayer costs. Fiscal Impact: Unknown ongoing costs, potentially $200,000 annually, to the Public Utilities Reimbursement Account (special) for proceedings and review of excess compensation. Author Amendments: Redefine excess compensation as over $1,000,000; clarify that restrictions on excess compensation applies to five years after a triggering event; and clarifying amendments. AB 1266 (Gonzalez) Page 1 of ? -- END --