Current Status Introducing Body:Senate Bill Number:1070 Primary Sponsor:Holland Committee Number:11 Type of Legislation:GB Subject:Telephone companies, determination of rates Residing Body:Senate Current Committee:Judiciary Companion Bill Number:4532 Computer Document Number:BBM/10855JM.94 Introduced Date:19940120 Last History Body:Senate Last History Date:19940120 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Holland Moore Russell Land J. Verne Smith Washington Type of Legislation:General Bill
Bill Body Date Action Description CMN Leg Involved
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1070 Senate 19940120 Introduced, read first time, 11
referred to Committee
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TO AMEND SECTION 58-9-570, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO FACTORS WHICH THE PUBLIC SERVICE COMMISSION MUST CONSIDER IN DETERMINING RATES FOR TELEPHONE COMPANIES, SO AS TO PROVIDE THAT, UNDER CERTAIN CONDITIONS, THE COMMISSION MAY ADOPT ANY ALTERNATIVE REGULATORY PLAN THE COMMISSION CONSIDERS APPROPRIATE AND IN THE PUBLIC INTEREST UPON DETERMINING THAT A TELEPHONE UTILITY IS SUBJECT TO COMPETITION WITH RESPECT TO A PARTICULAR SERVICE OR WITH RESPECT TO ITS SERVICES GENERALLY.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 58-9-570 of the 1976 Code is amended to read:
"Section 58-9-570. (A) In determining just, reasonable, and sufficient rates the commission shall give due consideration to the telephone utility's property devoted to the public service; the revenues received for the service; the reasonable operating expenses and other costs necessary to provide the service; the total earnings required for the proper discharge of the telephone utility's public duty; the capitalization of the telephone utility and the net income required on its net worth; and such other matters, circumstances, and conditions as the commission may find necessary. But the rates so fixed shall not be higher than necessary to give a fair return to the stockholders.
(B) Notwithstanding subsection (A), if the commission determines that a telephone utility is subject to competition with respect to a particular service or with respect to its services generally, the commission may adopt any alternative regulatory plan as the commission may consider to be appropriate and in the public interest so long as the rate or rates approved are determined to be just and reasonable and not confiscatory of the property and assets of the subject telephone utility."
SECTION 2. This act takes effect upon approval by the Governor.