Limits executive pay rate recovery for large public utilities in Minnesota.

The bill amends Minnesota Statutes to limit the compensation rate recovery for the ten highest-paid officers or employees of public utilities with at least 300,000 retail customers in Minnesota. Compensation includes salary, incentive program payments, or any other form of compensation but excludes expense reimbursements or benefits offered on terms comparable to other employees. The limitation does not apply to compensation from sources other than Minnesota ratepayers.

Limits executive pay rate recovery for large public utilities in Minnesota.

The bill amends Minnesota Statutes to limit the compensation rate recovery for the ten highest-paid officers or employees of public utilities with at least 300,000 retail customers in Minnesota. Compensation includes salary, incentive program payments, or any other form of compensation but excludes expense reimbursements or benefits offered on terms comparable to other employees. The limitation does not apply to compensation from sources other than Minnesota ratepayers.