Certain public utilities rate recovery of executive pay limitations provision and certain utility expenses that may not be recovered from ratepayers specification provision

This bill restricts public utilities in Minnesota from including certain expenses in the rates charged to customers. It prohibits utilities from recovering costs related to executive compensation over $300,000 for their ten highest-paid officers, as well as expenses for advertising, lobbying, political contributions, charitable donations, travel, and other specified categories. Utilities must submit detailed annual reports to regulators listing these expenses by category, including dates, amounts, vendors, and business purposes. If a utility violates these rules, regulators can require refunds to customers plus interest and impose penalties equal to 200 percent of the improperly recovered amount. The bill does not limit compensation paid from sources other than ratepayers, such as investor funds.