Bill Text: CA SB1298 | 2015-2016 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Local government: fees and charges.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2016-11-30 - From Assembly without further action. [SB1298 Detail]

Download: California-2015-SB1298-Introduced.html
BILL NUMBER: SB 1298	INTRODUCED
	BILL TEXT


INTRODUCED BY   Senator Hertzberg

                        FEBRUARY 19, 2016

   An act to amend Section 846 of the Public Utilities Code, relating
to electricity.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1298, as introduced, Hertzberg. Electrical restructuring:
financing orders.
   Under existing law, the Public Utilities Commission has regulatory
authority over public utilities, including electrical corporations.
Existing law relative to restructuring of the electrical industry
authorizes an electrical corporation to apply to the commission for a
determination that certain transition costs, as defined, may be
recovered through fixed transition amounts, which would constitute
transition property, as defined, and provides, until December 31,
2016, for the issuance of financing orders and provides for the
issuance of rate reduction bonds to be paid out of rates.
   This bill would extend the authorization for the issuance of
financing orders from December 31, 2016, to December 31, 2017.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 846 of the Public Utilities Code is amended to
read:
   846.  The authority of the commission to issue financing orders
pursuant to Section 841 shall expire on December 31,  2016.
  2017.  The expiration of the authority shall have
no effect upon financing orders adopted by the commission pursuant
to this article or any transition property arising therefrom, or upon
the charges authorized to be levied thereunder, or the rights,
interests, and obligations of the electrical corporation or a
financing entity or holders of transition bonds pursuant to the
financing order, or the authority of the commission to monitor,
supervise, or take further action with respect to the order in
accordance with the terms of this article and of the order.
                
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