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A 7429

Reduces the amount a utility can be assessed for costs and expenses of the department of public service and the public service commission from one percent to one-third of one percent

2025 Regular Session Introduced by Joe DeStefano and 2 co-sponsors

Overview: Bill A 7429 reduces the amount a utility can be assessed for the costs and expenses of the Department of Public Service and the Public Service Commission from one percent

REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
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Bill Summary · A 7429

Overview: Bill A 7429 reduces the amount a utility can be assessed for the costs and expenses of the Department of Public Service and the Public Service Commission from one percent to one-third of one percent.

Purpose and Intent: The bill aims to lower the financial burden on utility companies by reducing the assessment they are required to pay for the operations of the state's public service regulatory agencies. The legislation's supporters argue that this reduction will ultimately benefit consumers through lower utility rates.

Key Provisions:
- Decreases the assessment on utilities from one percent to one-third of one percent of their gross operating revenues
- Applies the reduced assessment to the costs and expenses of the Department of Public Service and the Public Service Commission

Affected Parties and Impacts: The bill would directly impact utility companies, who would see a reduction in the regulatory assessment they are required to pay. Consumers may potentially benefit from this change through lower utility rates, though the extent of the impact is unclear.

Procedural and Timeline Considerations: The bill has been referred to the Corporations, Authorities and Commissions committee for further consideration. If passed, the reduced assessment would take effect immediately or on a specified future date.

Compiled from official sources — confirm details with the bill’s official record.

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