H*3635(Rat #0568, Act #0458 of 1982)  General Bill, By 
 House Labor, Commerce and Industry
 A Bill to amend Section 58-5-250, Code of Laws of South Carolina, 1976,
 relating to gas, heat, water, and certain other public utilities putting
 suspended rates into effect under bond and the interest required on disallowed
 rate increases, Section 58-9-550, relating to telephone utilities putting
 suspended rates into effect under bond and the interest required on disallowed
 rate increases, and Section 58-27-880, relating to electrical utilities
 putting suspended rates into effect under bond and the interest required on
 disallowed rate increases, so as to increase the interest rate required on
 such disallowed rate increases from nine to twelve percent.

   03/03/82  House  Introduced, read first time, placed on calendar
                     without reference HJ-1161
   03/10/82  House  Debate interrupted HJ-1339
   03/11/82  House  Read second time HJ-1359
   03/16/82  House  Read third time and sent to Senate HJ-1411
   03/18/82  Senate Introduced and read first time SJ-18
   03/18/82  Senate Referred to Committee on Judiciary SJ-18
   06/01/82  Senate Recalled from Committee on Judiciary SJ-6
   06/01/82  Senate Read second time SJ-6
   06/01/82  Senate Ordered to third reading with notice of amendments SJ-6
   06/02/82  Senate Read third time and enrolled SJ-96
   06/03/82  House  Ratified R 568 HJ-3949
   06/09/82         Signed By Governor
   06/09/82         Effective date 06/09/82
   06/09/82         Act No. 458
   06/18/82         Copies available

AN ACT TO AMEND SECTION 58-5-250, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO GAS, HEAT, WATER, AND CERTAIN OTHER PUBLIC UTILITIES PUTTING SUSPENDED RATES INTO EFFECT UNDER BOND AND THE INTEREST REQUIRED ON DISALLOWED RATE INCREASES, SECTION 58-9-550, RELATING TO TELEPHONE UTILITIES PUTTING SUSPENDED RATES INTO EFFECT UNDER BOND AND THE INTEREST REQUIRED ON DISALLOWED RATE INCREASES, AND SECTION 68-27-880, RELATING TO ELECTRICAL UTILITIES PUTTING SUSPENDED RATES INTO EFFECT UNDER BOND AND THE INTEREST REQUIRED ON DISALLOWED RATE INCREASES, SO AS TO INCREASE THE INTEREST RATE REQUIRED ON SUCH DISALLOWED RATE INCREASES FROM NINE TO TWELVE PERCENT.

Be it enacted by the General Assembly of the State of South Carolina:

Commission may suspend operation of schedule

Section 1. Section 58-5-250 of the 1976 Code is amended by striking on line nineteen "nine" and inserting "twelve". The section when amended shall read:

"Section 58-5-250. To enable it to make such investigations as in its opinion the public interest requires, the Commission may, in its discretion, suspend the operation of the new schedule for a period not exceeding sixty days. Unless as a result of its investigation the Commission otherwise orders before the termination of such period of sixty days, such new schedule or schedules shall thereupon become effective. Should the Commission order the operation of any new schedule or schedules suspended, as herein provided, the public utility may put such new schedule into operation on the date when it would otherwise become effective by filing with the Commission a satisfactory bond or by making other arrangements satisfactory to the Commission for the protection, during such period of suspension, of the parties interested should the Commission, after full hearing, determine and order that such schedule shall not become effective in whole or in part or without change or modification.

All increases in rates put into effect under the provisions of this section which are not approved and for which a refund shall be required shall bear interest at the rate of twelve percent per annum. Such interest shall commence on the date the disallowed increase is paid and continue until the date the refund is made."

Utility may put suspended rate into effect

Section 2. Section 58-9-550 of the 1976 Code is amended by striking on line nineteen "nine" and inserting "twelve". The section when amended shall read:

"Section 58-9-550. Notwithstanding any such order of suspension, the telephone utility may put such suspended rate or rates into effect on the date when it or they would have become effective, if not so suspended, by filing with the Commission a bond in a reasonable amount approved by the Commission, with sureties approved by the Commission, conditioned upon the refund, in a manner to be prescribed by order of the Commission, to the persons or corporations respectively entitled to the amount of excess, if the rate or rates so put into effect are finally determined to be excessive. Or there may be substituted for such bond other arrangements satisfactory to the Commission for the protection of the parties interested. During any such period of suspension the telephone utility involved shall provide records or other evidence of payments made by its subscribers or patrons under the rate or rates which the telephone utility has put into operation in excess of the rate or rates in effect immediately prior thereto.

All increases in rates put into effect under the provisions of this section which are not approved and for which a refund shall be required shall bear interest at the rate of twelve percent per annum. Such interest shall commence on the date the disallowed increase is paid and continue until the date the refund is made."

Further

Section 3. Section 58-27-880 of the 1976 Code is amended by striking on line fifteen "nine" and inserting "twelve". The section when amended shall read:

"Section 58-27-880. Notwithstanding any such order of suspension the electrical utility may put such suspended rate or rates into effect on the date when it or they would have become effective if not so suspended by filing with the Commission a bond in a reasonable amount approved by the Commission, with sureties approved by the Commission, conditioned upon the refund, in a manner to be prescribed by order of the Commission, to the persons, corporations or municipalities respectively entitled to the amount of the excess, if the rate or rates so put into effect are finally determined to be excessive; or there may be substituted for such bond other arrangements satisfactory to the Commission for the protection of the parties interested.

All increases in rates put into effect under the provisions of this section which are not approved and for which a refund shall be required shall bear interest at the rate of twelve percent per annum. Such interest shall commence on the date the disallowed increase is paid and continue until the date the refund is made."

Time effective

Section 4. This act shall take effect upon the approval by the Governor.