Requires legislative approval of any utility rate or charge increase approved by the public service commission

Summary

The bill adds a rule that any increase in utility rates or charges, even after the Public Service Commission approves it, cannot become effective until the state legislature passes a concurrent resolution approving it. The commission must inform the governor, the temporary president of the Senate, the speaker of the Assembly, and the public within 24 hours of its approval. Lawmakers then have 60 days to approve, modify, or rescind the increase.

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