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AMENDED
April 4, 2002
H. 4786
S. Printed 4/4/02--H.
Read the first time February 21, 2002.
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 58-33-115 SO AS TO PROVIDE THAT NO PERSON SHALL GIVE, SELL, LEASE, ASSIGN, TRANSFER, MORTGAGE, PLEDGE, HYPOTHECATE, OR OTHERWISE DISPOSE OF A CERTIFICATE OF ENVIRONMENTAL COMPATIBILITY AND PUBLIC CONVENIENCE AND NECESSITY OR RIGHTS UNDER THE CERTIFICATE ISSUED BY THE PUBLIC SERVICE COMMISSION WITH RESPECT TO THE OPERATION OF A MAJOR UTILITY FACILITY KNOWN AS A "MERCHANT PLANT".
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 58-33-130(3) of the 1976 Code is amended by adding a new subsection (3) to read:
"(3) Upon receipt of an application to transfer a certificate for a major utility facility known as a 'merchant plant' pursuant to Section 58-33-110(2), the commission shall hold a hearing in the same manner as a hearing is held on an application for a certificate. For purposes of this subsection, a 'merchant plant' means a major utility facility, as defined in Article 3, Chapter 33, Title 58, not constructed by a utility currently serving retail customers in South Carolina and that does not have at least seventy-five percent of its generation capacity under a contract with a duration of at least ten years with utilities which provide retail electric service to customers in South Carolina."
SECTION 2. This act takes effect upon approval by the Governor.
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