The New York State Assembly on Wednesday passed legislation that requires the Long Island Power Authority to undergo “comprehensive and operational audits,” according to a press release from Assemblyman Harvey Weisenberg, D-Long Beach.

The goal of the Long Island Power Authority Oversight and Accountability Act (A.8957), sponsored by Weisenberg, is to address LIPA’s “out-of-control spending and questionable business practices.”

“LIPA has exploited legal loopholes for years to avoid the scrutiny of the Public Service Commission. This has resulted in Nassau County paying some of the highest energy rates in the country,” Weisenberg said in the release. “By shining a light on the authority’s operations, we can hold them accountable and enable ratepayers to see where their hard-earned money is going.”

Since 2001, the authority’s rates have jumped more than 34 percent, according to the release. Weisenberg said that this legislation would protect ratepayers and improve service by ensuring that Long Island consumers pay the lowest rates possible in accordance with standards set forth by the state.

Sen. Kenneth LaValle, R-Port Jefferson, sponsored the senate version, which is awaiting vote.

If the bill is passed into law, audits, by the New York State Public Service Department, would begin immediately and be repeated at least every five years. The audits would focus on rate setting, annual operating costs, efficiency and debt service obligations. Additionally, the auditor would hold local public hearings and consumers would be allowed to lodge complaints about service or bills to the New York State Consumer Protection Division, the release says.

“Ratepayers should not have to worry about whether or not they are being overcharged by LIPA,” Weisenberg said. “By conducting these audits and seeking public input, hardworking local families would get long-overdue relief from rate hikes and a say in how their dollars are spent.”

A LIPA spokesperson said the authority does not comment on legislation in progress.