Current Status Bill Number:4546 Ratification Number:426 Act Number:349 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19960206 Primary Sponsor:Klauber All Sponsors:Klauber, Askins, Mason, Chamblee, R. Smith, Meacham, Wright, Elliott, Koon, D. Smith, Knotts, Herdklotz, Sharpe, Bailey, Gamble, Fulmer, Tripp, Whatley, Law, Kennedy, Vaughn, Rice, Quinn, Cato, Davenport, Wofford, Haskins, Worley, Littlejohn, Riser, J. Young, Young-Brickell, Lanford, Simrill, Witherspoon and Carnell Drafted Document Number:bbm\10528jm.96 Date Bill Passed both Bodies:19960521 Date of Last Amendment:19960501 Governor's Action:S Date of Governor's Action:19960529 Subject:Electric utilities, utility property, out-of-state
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ ------ 19960606 Act No. A349 ------ 19960529 Signed by Governor ------ 19960523 Ratified R426 Senate 19960521 Read third time, enrolled for ratification Senate 19960516 Read second time, notice of general amendments Senate 19960508 Committee report: Favorable 11 SJ Senate 19960502 Introduced, read first time, 11 SJ referred to Committee House 19960502 Read third time, sent to Senate House 19960501 Amended, read second time House 19960424 Debate adjourned until Thursday, 19960425 House 19960417 Committee report: majority, 26 HLCI favorable with amendment, minority unfavorable House 19960206 Introduced, read first time, 26 HLCI referred to CommitteeView additional legislative information at the LPITS web site.
(A349, R426, H4546)
AN ACT TO AMEND SECTION 58-27-1300, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ELECTRIC UTILITIES AND ELECTRIC COOPERATIVES, THE DISPOSITION OF PROPERTIES, POWERS, FRANCHISES, OR PRIVILEGES, AND THE PERMISSION TO SELL CERTAIN OUT-OF-STATE PROPERTY, SO AS TO DELETE REFERENCES TO OUT-OF-STATE PROPERTY, DELETE THE REQUIREMENT OF A HEARING, MAKE THE PROVISIONS OF THIS SECTION APPLICABLE TO "UTILITY PROPERTY", CHANGE FROM "INITIAL PURCHASE VALUE" TO "FAIR MARKET VALUE", AND PROVIDE, AMONG OTHER THINGS, FOR THE DEFINITION OF "UTILITY PROPERTY" FOR PURPOSES OF THIS SECTION.
Be it enacted by the General Assembly of the State of South Carolina:
Disposition of property; provisions amended
SECTION 1. Section 58-27-1300 of the 1976 Code, as amended by Act 449 of 1988, is further amended to read:
"Section 58-27-1300. No electrical utility, without the approval of the commission and compliance with all other existing requirements of the laws of the State in relation thereto, may sell, assign, transfer, lease, consolidate, or merge its utility property, powers, franchises, or privileges, or any of them, except that any electrical utility which has utility property, the fair market value of which is one million dollars or less, may sell, assign, transfer, lease, consolidate, or merge this property without prior approval of the commission. The commission may, at its discretion, hold a hearing on the request of an electrical utility to sell, assign, transfer, lease, consolidate, or merge its utility property, powers, franchises, or privileges, or any of them. An electric utility seeking approval of a transfer under this provision shall serve a copy of the application on the South Carolina Consumer Advocate. For purposes of this section, `utility property' shall include property used and useful to provide customers with electric service and which has been properly included in the electric utility's rate base, including construction work in progress or property held to serve future customers. Utility property that has been transferred to nonutility accounts shall continue to be treated as utility property under this provision for five years following the transfer."
Time effective
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 29th day of May, 1996.