Initiative Limiting Hospital Executive Pay - New York News

Signature Gathering Approved For Initiative Limiting Hospital Executives Pay

Posted: Updated:

LOS ANGELES (CNS) - Backers of an initiative to limit the compensation of executives of nonprofit hospitals received permission yesterday to begin gathering signatures from Secretary of State Debra Bowen.

What backers have dubbed Charitable Hospital Executive Compensation Act of 2014 would limit the annual compensation -- salary, perks, bonuses, stock options and more -- to the salary and expense allowance for the president of the United States, which is currently $450,000.

The initiative would also require annual public disclosure of the 10 highest-paid executives and five largest severance packages. Hospitals violating terms of the initiative would be subject to fines, revocation of tax-exempt status and appointment of a representative of the state attorney general.

The limits would also apply to nonprofit hospital groups, hospital-affiliated medical foundations and physician groups.

If the initiative were to become law, it would result in state administrative costs in the low millions of dollars annually to enforce the law, with the authority to recover costs through fees assessed on nonprofit hospitals, according to an analysis prepared by the Legislative Analyst and Department of Finance.

Valid signatures from 504,760 registered voters -- 5 percent of the total votes cast for governor in the 2010 general election -- must be submitted by June 2 to qualify the measure for the November ballot, Bowen said.

The initiative is backed by the SEIU-United Healthcare Workers West union, which is also behind an initiative to limit hospital pricing. The union claims both measures would reduce the cost of hospital care.

  • Local NewsLocal NewsMore>>

  • NJ brush fire forces evacuations

    NJ brush fire forces evacuations

    Thursday, April 24 2014 2:04 PM EDT2014-04-24 18:04:00 GMT
    A New Jersey school and several homes were evacuated Thursday afternoon because of a large brush fire that was being fanned by winds.Beachwood Intermediate South School was closed just after 12:30 p.m. Parents were told not to report to the school. The Ocean County Sheriff's Dept. said that all children were going to be safely evacuated to another location.
    A New Jersey school and several homes were evacuated Thursday afternoon because of a large brush fire that was being fanned by winds.Beachwood Intermediate South School was closed just after 12:30 p.m. Parents were told not to report to the school. The Ocean County Sheriff's Dept. said that all children were going to be safely evacuated to another location.
  • Cops swarm home after disgruntled Call of Duty gamer calls in swatting hoax

    Cops swarm home after disgruntled Call of Duty gamer calls in swatting hoax

    Thursday, April 24 2014 12:05 PM EDT2014-04-24 16:05:27 GMT
    Heavily armed police officers descended on a home in Long Beach, Long Island thinking they might find a grisly murder scene. Instead they found a terrified woman who had no clue what they were talking about and her teenaged son playing video games.
    Heavily armed police officers descended on a home in Long Beach, Long Island thinking they might find a grisly murder scene. Instead they found a terrified woman who had no clue what they were talking about and her teenaged son playing video games.
  • Girl fights to bring 22-year-old prom date

    Girl fights to bring 22-year-old prom date

    Thursday, April 24 2014 11:50 AM EDT2014-04-24 15:50:19 GMT
    A Connecticut teenager is appealing to her local Board of Education after school officials rejected her request to bring her 21-year-old boyfriend to her prom.
    A Connecticut teenager is appealing to her local Board of Education after school officials rejected her request to bring her 21-year-old boyfriend to her prom.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices