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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6590 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 6590
To limit bonuses for executives of certain electric utilities, and for
other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 10, 2025
Mr. Riley of New York (for himself and Mr. Van Drew) introduced the
following bill; which was referred to the Committee on Energy and
Commerce, and in addition to the Committee on Ways and Means, for a
period to be subsequently determined by the Speaker, in each case for
consideration of such provisions as fall within the jurisdiction of the
committee concerned
_______________________________________________________________________
A BILL
To limit bonuses for executives of certain electric utilities, and for
other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``No Bonuses for Utility Executives
Act''.
SEC. 2. LIMITATION ON BONUSES FOR EXECUTIVES OF CERTAIN ELECTRIC
UTILITIES.
(a) Authorized Bonuses.--
(1) In general.--Beginning January 1, 2025, a covered
utility may, subject to paragraph (2), pay a bonus to an
executive of such covered utility for the fiscal year of the
covered utility only if the average percentage increase in
customer rates of the covered utility for such fiscal year does
not exceed any percentage increase in the Consumer Price Index
for All Urban Consumers (CPI-U) published by the Bureau of
Labor Statistics of the Department of Labor for the 12-month
period ending on the last day of such fiscal year.
(2) Limitation.--A bonus paid pursuant to paragraph (1) may
not exceed 25 percent of the median of the annual compensation
for such fiscal year of employees of the covered utility who
are not executives.
(b) Oversight.--
(1) Determination of bonuses allowed.--
(A) Information provided to commission.--Not later
than 1 week after the last day of the fiscal year of a
covered utility, the covered utility shall provide to
the Federal Energy Regulatory Commission information
on--
(i) the average percentage increase in
customer rates of the covered utility for such
fiscal year; and
(ii) the median of the annual compensation
for such fiscal year of employees of the
covered utility who are not executives.
(B) Determination of bonuses allowed.--Not later
than 1 month after the last day of such fiscal year,
the Commission shall determine--
(i) whether the covered utility may pay a
bonus pursuant to subsection (a)(1); and
(ii) the maximum allowable amount under
subsection (a)(2) of any such bonus.
(2) Oversight of bonuses.--
(A) Determination of compliance.--The Commission
shall, jointly with the Commissioner of Internal
Revenue, determine whether each covered utility is in
compliance with subsection (a).
(B) Penalties.--
(i) Forfeiture.--A bonus resulting from a
violation of subsection (a) by a covered
utility shall be forfeited to the United
States.
(ii) Stimulus checks.--For any such bonus--
(I) the covered utility shall
provide any information to the
Commissioner of Internal Revenue that
the Commissioner determines to be
necessary to carry out subclause (II);
and
(II) the Commissioner shall issue a
payment to each customer of such
covered utility in an amount equal to
the amount forfeited under clause (i)
divided by the number of customers of
the covered utility.
(c) Definitions.--In this section:
(1) Covered utility.--The term ``covered utility'' means a
State regulated electric utility (as such term is defined in
section 3 of the Public Utility Regulatory Policies Act of 1978
(16 U.S.C. 2602)) that is not wholly owned by United States
persons.
(2) Customer rates.--The term ``customer rates'' means the
rates and charges made, demanded, or received by a covered
utility for or in connection with the sale of electric energy
and, if applicable, natural gas.
(3) Executive.--The term ``executive'' means a C-suite
executive, including a chief executive officer, chief operating
officer, chief financial officer, chief information officer,
chief technology officer, chief marketing officer, chief human
resources officer, chief people officer, and any person that
the Commission determines holds a title substantially similar
to any such title.
(4) United states person.--The term ``United States
person'' means--
(A) an individual who is a citizen of, or an alien
lawfully admitted for permanent residence in, the
United States; or
(B) an entity organized under the laws of the
United States or any jurisdiction within the United
States.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sponsor introductory remarks on measure. (CR H5805)
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