Amend the joint resolution, as and if amended, by striking all after the enacting language and inserting:
/ SECTION 1. The Public Service Commission shall not hold a hearing on the merits before November 1, 2018, for a docket in which requests were made pursuant to the Base Load Review Act; however, the Public Service Commission may hold an administrative or procedural hearing for such a docket prior to a hearing on the merits. The Public Service Commission must 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 December 21, 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 $1.3 billion 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 under the terms and conditions outlined below. 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 $1,500, issued in the form of a check and payable no later than 90 days following the closing date of any utility combination allowed pursuant to the Public Service Commission final order, with the balance of the aggregate $1.3 billion credit amount to be allocated to non-residential customers. 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 7 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.