Text: SF00520 Text: SF00522 Text: SF00500 - SF00599 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 476.77, subsections 1 and 3, Code 1997, 1 2 are amended to read as follows: 1 3 1. A reorganization shall not take placeifunless the 1 4 boarddisapprovesapproves. Prior to reorganization, the 1 5 applicant shall file with the board a proposal for 1 6 reorganization with supporting testimony and evidence to 1 7 establish that the reorganization is not contrary to the 1 8 interests of the public utility's ratepayers and the public 1 9 interest. The proposal shall include information concerning 1 10 each of the considerations identified in subsection 3. 1 11 3. In its review of a proposal for reorganization, the 1 12 board may consider all of the following: 1 13 a. Whether the board will have reasonable access to books, 1 14 records, documents, and other information relating to the 1 15 public utility or any of its affiliates. 1 16 b. Whether the public utility's ability to attract capital 1 17 on reasonable terms, including the maintenance of a reasonable 1 18 capital structure, is impaired. 1 19 c. Whether the ability of the public utility to provide 1 20 safe, reasonable, and adequate service is impaired, including 1 21 whether the reorganized public utility will maintain 1 22 administrative, technical, and operational personnel within 1 23 this state necessary for the delivery of safe, reasonable, and 1 24 adequate service and facilities. 1 25 d. Whetherratepayers are detrimentally affectedto the 1 26 fullest extent possible, the reorganization will produce 1 27 demonstrable, direct, and substantial net benefits to affected 1 28 ratepayers in both the short-term and long-term, and that all 1 29 classes of ratepayers will receive similar benefits. 1 30 e. Whether the reorganization will have an adverse impact 1 31 on competition in this state for any utility service. 1 32 f. Whether the reorganization will benefit local and state 1 33 economies, including job creation and retention, and the 1 34 communities in the area served by the public utility. 1 35 g. Whether the reorganization will maintain and improve 2 1 the ability of the state to protect and improve the 2 2 environment, promote renewable energy, require energy 2 3 conservation, and require long-term resource planning by 2 4 public utilities. 2 5e.h. Whether the public interest is detrimentally 2 6 affected. 2 7 Sec. 2. Section 476.77, subsection 2, Code 1977, is 2 8 amended by striking the subsection and inserting in lieu 2 9 thereof the following: 2 10 2. The board shall act on an application within one 2 11 hundred eighty days after the filing of the application. The 2 12 board, for good cause shown, may extend the deadline for 2 13 acting on an application by an additional one hundred twenty 2 14 days. The board may docket an application for hearing. If 2 15 docketed for hearing, the notice of hearing shall be provided 2 16 no later than fifty days after the application for 2 17 reorganization has been filed. In approving an application 2 18 for reorganization, the board may impose reasonable conditions 2 19 limited to the proposed transaction described in the 2 20 application. If the terms of a reorganization are modified by 2 21 the applicants prior to the effective date of the 2 22 reorganization, or by another jurisdiction after the board's 2 23 approval, the board may reconsider the application. 2 24 Sec. 3. EFFECTIVE DATE. This Act, being deemed of 2 25 immediate importance, is effective upon enactment. 2 26 EXPLANATION 2 27 This bill amends Code section 476.77 relating to the review 2 28 of public utility reorganizations. 2 29 The bill provides that a public utility reorganization must 2 30 receive the prior approval of the utilities board. Currently, 2 31 such reorganization takes place unless the board disapproves. 2 32 The bill provides that the proposal submitted by the 2 33 applicant must contain information regarding whether the 2 34 reorganized public utility will maintain administrative, 2 35 technical, and operational personnel within this state 3 1 necessary for the delivery of safe, reasonable, and adequate 3 2 service and facilities; whether to the fullest extent 3 3 possible, the reorganization will produce demonstrable, 3 4 direct, and substantial net benefits to all affected classes 3 5 of ratepayers in both the short-term and long-term; whether 3 6 the reorganization will have an adverse impact on competition 3 7 in this state for any utility service; whether the 3 8 reorganization will benefit local and state economies, 3 9 including job creation and retention, and the communities in 3 10 the area served by the public utility; and whether the 3 11 reorganization will maintain and improve the ability of the 3 12 state to protect and improve the environment, promote 3 13 renewable energy, require energy conservation, and require 3 14 long-term resource planning by public utilities. 3 15 The bill increases the time period for review by the board 3 16 of the reorganization from 90 to 180 days. The bill also 3 17 provides that the board, for good cause, may extend the time 3 18 period for review by an additional 120 days. Upon approval, 3 19 the board is authorized to impose reasonable conditions 3 20 limited to the proposed transaction and to reconsider the 3 21 application if the terms of the reorganization are modified. 3 22 LSB 1994SV 77 3 23 mj/jw/5
Text: SF00520 Text: SF00522 Text: SF00500 - SF00599 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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