VA SB500 | 2022 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on April 11 2022 - 100% progression
Action: 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0582)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on April 11 2022 - 100% progression
Action: 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0582)
Text: Latest bill text (Chaptered) [HTML]
Summary
Investor-owned water and water and sewer utilities; ratemaking proceedings. Requires the State Corporation Commission, in any ratemaking proceeding for an investor-owned utility authorized to furnish water or water and sewer service initiated after January 1, 2022, to evaluate such utility on a stand-alone basis and, for purposes of establishing any revenue requirement and rates, utilize such utility's actual end-of-test period capital structure and cost of capital without regard to the cost of capital, capital structure, or investments of any other entities with which such utility may be affiliated. If the Commission finds that the debt to equity ratio of the actual end-of-test period capital structure of such utility is unreasonable, the bill authorizes the Commission to utilize a debt to equity ratio that it finds to be reasonable. The bill requires the Commission, in all proceedings initiated after January 1, 2022, in which the Commission reviews the rates and associated earnings of an investor-owned utility authorized to furnish water or water and sewer service, to conduct such review utilizing the same cost of capital and capital structure adopted in the utility's most recent rate case in which such rates were set, without regard to any later changes in the cost of capital or capital structure.
Title
Investor-owned water and water and sewer utilities; ratemaking proceedings, evaluation of utilities.
Sponsors
Roll Calls
2022-03-01 - House - House: VOTE: Passage (81-Y 19-N) (Y: 81 N: 19 NV: 0 Abs: 0) [PASS]
2022-02-24 - House - House: Reported from Commerce and Energy (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-14 - Senate - Senate: Read third time and passed Senate (38-Y 1-N) (Y: 38 N: 1 NV: 0 Abs: 1) [PASS]
2022-02-09 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 2) [PASS]
2022-02-08 - Senate - Senate: Reported from Agriculture, Conservation and Natural Resources with amendment (14-Y 1-N) (Y: 14 N: 1 NV: 0 Abs: 0) [PASS]
2022-02-24 - House - House: Reported from Commerce and Energy (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-14 - Senate - Senate: Read third time and passed Senate (38-Y 1-N) (Y: 38 N: 1 NV: 0 Abs: 1) [PASS]
2022-02-09 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 2) [PASS]
2022-02-08 - Senate - Senate: Reported from Agriculture, Conservation and Natural Resources with amendment (14-Y 1-N) (Y: 14 N: 1 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-04-11 | Governor: Acts of Assembly Chapter text (CHAP0582) | |
| 2022-04-11 | Governor: Approved by Governor-Chapter 582 (effective 7/1/22) | |
| 2022-03-11 | Governor: Governor's Action Deadline 11:59 p.m., April 11, 2022 | |
| 2022-03-11 | Senate | Enrolled Bill Communicated to Governor on March 11, 2022 |
| 2022-03-04 | House | Signed by Speaker |
| 2022-03-04 | Senate | Signed by President |
| 2022-03-04 | Senate | Bill text as passed Senate and House (SB500ER) |
| 2022-03-04 | Senate | Enrolled |
| 2022-03-01 | House | VOTE: Passage (81-Y 19-N) |
| 2022-03-01 | House | Passed House (81-Y 19-N) |
| 2022-03-01 | House | Read third time |
| 2022-02-28 | House | Read second time |
| 2022-02-24 | House | Reported from Commerce and Energy (22-Y 0-N) |
| 2022-02-21 | House | Referred to Committee on Commerce and Energy |
| 2022-02-21 | House | Read first time |
| 2022-02-21 | House | Placed on Calendar |
| 2022-02-14 | Senate | Read third time and passed Senate (38-Y 1-N) |
| 2022-02-11 | Senate | Passed by for the day |
| 2022-02-10 | Senate | Printed as engrossed 22102089D-E |
| 2022-02-10 | Senate | Engrossed by Senate as amended SB500E |
| 2022-02-10 | Senate | Committee amendment agreed to |
| 2022-02-10 | Senate | Reading of amendment waived |
| 2022-02-10 | Senate | Read second time |
| 2022-02-09 | Senate | Constitutional reading dispensed (38-Y 0-N) |
| 2022-02-08 | Senate | Reported from Agriculture, Conservation and Natural Resources with amendment (14-Y 1-N) |
| 2022-01-12 | Senate | Referred to Committee on Agriculture, Conservation and Natural Resources |
| 2022-01-12 | Senate | Prefiled and ordered printed; offered 01/12/22 22102089D |
Same As/Similar To
HB182 (Same As) 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0581)
HB182 (Same As) 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0581)
HB182 (Same As) 2022-04-11 - Governor: Acts of Assembly Chapter text (CHAP0581)
