Utility Transfers Act; SCC to find that acquisition will not cause rates of cooperative to increase. (HB665)

Introduced By

Del. Bob Marshall (R-Manassas)

Progress

√
 Introduced
X
 Passed Committee
☐
 Passed House
☐
 Passed Senate
☐
 Signed by Governor
☐
 Became Law

Description

Utility Transfers Act; cooperatives to be held harmless. Requires the State Corporation Commission to find, prior to approving a distribution cooperative's application for approval of the acquisition of another utility, that the acquisition will not cause the rates of another distribution cooperative to increase. However, the Commission may approve the application if the petitioning cooperative agrees to hold harmless the other cooperatives from any increase in rates. In addition, the measure authorizes the Commission to adjust the rates of a distribution cooperative that received approval of an acquisition between July 1, 2007, and July 1, 2008, to provide for the collection of contributions sufficient to hold the other distribution cooperatives harmless for cost increases resulting from the approval of the application. Amends § 56-90, of the Code of Virginia. View Full Text »

Outcome

Bill Has Failed

History

  • 01/08/2008 Committee
  • 01/08/2008 Prefiled and ordered printed; offered 01/09/08 080058616
  • 01/08/2008 Referred to Committee on Commerce and Labor
  • 02/05/2008 Impact statement from SCC (HB665)
  • 02/12/2008 Left in Commerce and Labor