Minnesota SF2074 limits rate recovery of executive pay for public utilities with at least 300,000 retail customers.

Minnesota SF2074 amends Minnesota Statutes to limit the rate recovery of executive pay for certain public utilities. The bill adds a new subdivision to section 216B.16, prohibiting the commission from allowing Minnesota ratepayers to pay for compensation to any of a public utility's ten highest-paid officers or employees in an amount that exceeds the governor's annual salary. Compensation includes salary, incentive program payments, or any other form of compensation, but excludes expense reimbursements or benefits.

Minnesota SF2074 limits rate recovery of executive pay for public utilities with at least 300,000 retail customers.

Minnesota SF2074 amends Minnesota Statutes to limit the rate recovery of executive pay for certain public utilities. The bill adds a new subdivision to section 216B.16, prohibiting the commission from allowing Minnesota ratepayers to pay for compensation to any of a public utility's ten highest-paid officers or employees in an amount that exceeds the governor's annual salary. Compensation includes salary, incentive program payments, or any other form of compensation, but excludes expense reimbursements or benefits.