This bill proposes an amendment to Minnesota Statutes section 216B.16 to limit the amount of executive compensation that public utilities can recover from ratepayers. Specifically, it prohibits public utilities with at least 300,000 retail customers in Minnesota from passing on to ratepayers the cost of compensation exceeding the governor’s annual salary for their ten highest-paid officers or employees. Compensation includes salary, incentive program payments, and other forms of pay, but excludes expense reimbursements and general employee benefits. However, utilities can still pay executives beyond this cap using funds from investors or other non-ratepayer sources, as long as those funds do not unfairly impact ratepayers in other states.