H.R. 6590

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6590 Introduced in House (IH)]

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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.
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