Limits bonuses for executives of certain electric utilities based on customer rate increases.

The No Bonuses for Utility Executives Act restricts bonuses for executives of certain electric utilities. A covered utility can only pay a bonus if the average percentage increase in customer rates does not exceed the Consumer Price Index for All Urban Consumers for the fiscal year. The Federal Energy Regulatory Commission must determine if the utility is in compliance and the maximum allowable bonus amount. Bonuses exceeding these limits are forfeited to the United States. The act defines "executive" as a C-suite executive or someone with a similar title.

Limits bonuses for executives of certain electric utilities based on customer rate increases.

The No Bonuses for Utility Executives Act restricts bonuses for executives of certain electric utilities. A covered utility can only pay a bonus if the average percentage increase in customer rates does not exceed the Consumer Price Index for All Urban Consumers for the fiscal year. The Federal Energy Regulatory Commission must determine if the utility is in compliance and the maximum allowable bonus amount. Bonuses exceeding these limits are forfeited to the United States. The act defines "executive" as a C-suite executive or someone with a similar title.