Rate recovery of executive pay for public utilities limited, and utility expenses that may not be recovered from ratepayers specified.

This bill restricts public utilities in Minnesota from including specific expenses in the rates charged to customers. It prohibits utilities from recovering costs related to executive travel and entertainment, lobbying, political donations, and compensation exceeding $300,000 for the ten highest-paid officers. Additionally, the law bars the recovery of funds spent on advertising, charitable giving, and penalties, while requiring utilities to submit detailed annual reports on these prohibited expenditures. If a utility charges ratepayers for these restricted costs, the bill mandates refunds with interest and imposes a penalty equal to 200 percent of the improper amount.