H*4546 Session 111 (1995-1996)
H*4546(Rat #0426, Act #0349 of 1996) General Bill, By Klauber, Askins, Bailey,
Carnell, Cato, C.D. Chamblee, Davenport, L.L. Elliott, R.C. Fulmer, Gamble,
Haskins, R.J. Herdklotz, Kennedy, Knotts, Koon, Lanford, Law, Littlejohn, Mason,
Meacham, Quinn, Rice, Riser, Sharpe, Simrill, D. Smith, R. Smith, Tripp, Vaughn,
Whatley, Witherspoon, S.S. Wofford, H.G. Worley, D.A. Wright, W.J. Young and
Young-Brickell
A Bill 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.-amended title
02/06/96 House Introduced and read first time HJ-173
02/06/96 House Referred to Committee on Labor, Commerce and
Industry HJ-174
04/17/96 House Committee report: Majority favorable with amend.,
minority unfavorable Labor, Commerce and Industry HJ-5
04/24/96 House Debate adjourned until Thursday, April 25, 1996 HJ-479
05/01/96 House Amended HJ-77
05/01/96 House Read second time HJ-79
05/01/96 House Roll call Yeas-91 Nays-0 HJ-79
05/02/96 House Read third time and sent to Senate HJ-39
05/02/96 Senate Introduced and read first time SJ-39
05/02/96 Senate Referred to Committee on Judiciary SJ-39
05/08/96 Senate Committee report: Favorable Judiciary SJ-15
05/16/96 Senate Read second time SJ-74
05/16/96 Senate Ordered to third reading with notice of
amendments SJ-74
05/21/96 Senate Read third time and enrolled SJ-21
05/23/96 Ratified R 426
05/29/96 Signed By Governor
05/29/96 Effective date 05/29/96
06/06/96 Copies available
06/06/96 Act No. 349
(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. |