SB479 - Relating To The Public Utilities Commission.

1 Co-Sponsor

Exempts from the requirement that a water common carrier secure the prior approval of the Public Utilities Commission to issue stocks and stock certificates and enter long-term leases of more than three years and leverage leases: (1) land leases from a governmental entity; provided that either the water common carrier or governmental entity provides a letter to the commission outlining terms of the lease agreement in a reasonable timeframe after the agreement is executed; and (2) leases of any equipment of which the annual cost of the lease is below a threshold as determined by the commission in the most recently approved rate case or other ratemaking proceeding. Effective 7/1/2050. (SD2)