South Carolina General Assembly
111th Session, 1995-1996

Bill 4546


                    Current Status

Bill Number:                    4546
Ratification Number:            426
Act Number:                     349
Type of Legislation:            General Bill GB
Introducing Body:               House
Introduced Date:                19960206
Primary Sponsor:                Klauber
All Sponsors:                   Klauber, Askins, Mason, Chamblee,
                                R. Smith, Meacham, Wright, Elliott,
                                Koon, D. Smith, Knotts, Herdklotz,
                                Sharpe, Bailey, Gamble, Fulmer, Tripp,
                                Whatley, Law, Kennedy, Vaughn, Rice,
                                Quinn, Cato, Davenport, Wofford,
                                Haskins, Worley, Littlejohn, Riser,
                                J. Young, Young-Brickell, Lanford,
                                Simrill, Witherspoon and Carnell 
Drafted Document Number:        bbm\10528jm.96
Date Bill Passed both Bodies:   19960521
Date of Last Amendment:         19960501
Governor's Action:              S
Date of Governor's Action:      19960529
Subject:                        Electric utilities, utility
                                property, out-of-state

History



Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________

------  19960606  Act No. A349
------  19960529  Signed by Governor
------  19960523  Ratified R426
Senate  19960521  Read third time, enrolled for
                  ratification
Senate  19960516  Read second time, notice of
                  general amendments
Senate  19960508  Committee report: Favorable              11 SJ
Senate  19960502  Introduced, read first time,             11 SJ
                  referred to Committee
House   19960502  Read third time, sent to Senate
House   19960501  Amended, read second time
House   19960424  Debate adjourned until
                  Thursday, 19960425
House   19960417  Committee report: majority,              26 HLCI 
                  favorable with amendment,
                  minority unfavorable
House   19960206  Introduced, read first time,             26 HLCI
                  referred to Committee

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(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.