View Amendment Current Amendment: 954R026.SP.CBH.docx to Bill 954     Senator HUTTO proposed the following amendment (954R026.SP.CBH):
    Amend the joint resolution, as and if amended, by striking all after the title and inserting:

/         Be it enacted by the General Assembly of the State of South Carolina:

SECTION     1.     The Public Service Commission shall hold a hearing and issue a final order on the merits for a docket in which requests were made pursuant to the Base Load Review Act no later than September 30, 2018.

SECTION     2.     Any such final order on the merits issued by the Public Service Commission approving terms proposed and agreed to by any petitioning parties requesting approval of a business combination shall provide for one billion three hundred million in up-front, one-time aggregate rate credits or refunds to eligible customers, to be apportioned based on a reasonable methodology as determined by the Public Service Commission. It is the intent of the General Assembly that a typical residential customer of the utility shall receive a rate credit or refund of no less than one thousand, issued in the form of a check and payable no later than ninety days following the closing date of any utility combination allowed pursuant to the Public Service Commission final order. It is also the intent of the General Assembly that any such final order on the merits provide for overall retail electric rate reductions for the utility's customers of seven percent from 2017 levels (excluding fuel charge adjustments), including the effect of federal tax reform, as well as other commitments, findings and cost recovery directives associated with the customer benefits plan as described in the petition for approval of business combination and related issues filed with the Public Service Commission.

SECTION     3.     This joint resolution takes effect upon approval by the Governor.         /

    Renumber sections to conform.
    Amend title to conform.