Limits bonuses for executives of certain electric utilities and redistributes forfeited bonuses to customers.
The No Bonuses for Utility Executives Act restricts bonuses for executives of state-regulated electric utilities not wholly owned by U.S. persons. A bonus may only be paid if the average percentage increase in customer rates does not exceed the Consumer Price Index for All Urban Consumers. The Federal Energy Regulatory Commission determines if a utility may pay a bonus and if it exceeds the allowed amount, the bonus is forfeited to the U.S. and redistributed to customers.
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