Assembly Bill 1062 establishes a new provision in the statutes that prohibits former commissioners of the Public Service Commission from engaging in certain employment for a period of 36 months after leaving their position. Specifically, the bill restricts these individuals from working for compensation with investor-owned public utilities or transmission companies if their job responsibilities involve policy making, executive decision-making, operations management, or government relations. This prohibition is enforced under the state's code of ethics for public officials, as administered by the Ethics Commission.

Additionally, the bill includes a retroactive application clause, meaning that the employment prohibition will also apply to any former commissioner who left their position within the 12 months prior to the bill's enactment. This aims to ensure that recent former commissioners are also subject to the same restrictions as those who leave in the future, thereby enhancing ethical standards and preventing potential conflicts of interest in the public utility sector.