‘Sec. 1. 35-A MRSA §708, sub-§1-A is enacted to read:
SP0495 LD 1560 |
Session - 129th Maine Legislature C "A", Filing Number S-192, Sponsored by
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LR 2306 Item 2 |
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Bill Tracking, Additional Documents | Chamber Status |
Amend the bill by striking out all of section 1 and inserting the following:
‘Sec. 1. 35-A MRSA §708, sub-§1-A is enacted to read:
Amend the bill in section 2 in subsection 2 in paragraph A by striking out all of the first paragraph (page 1, lines 17 to 28 in L.D.) and inserting the following:
Amend the bill in section 2 in subsection 2 in paragraph A by striking out all of subparagraph (9) (page 2, lines 16 and 17 in L.D.) and inserting the following:
(9) That neither ratepayers nor investors are adversely affected by the reorganization , and if the reorganization would result in the transfer of ownership and control of a public utility or the parent company of a public utility, that the reorganization provides net benefits to the utility's ratepayers.
Amend the bill in section 2 in subsection 2 in paragraph C in the first line (page 2, line 24 in L.D.) by inserting after the following: " reorganization" the following: ' that would result in the transfer of ownership and control of a public utility or the parent company of a public utility'
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
summary
This amendment limits the application of the requirement in the bill that there be net benefits to ratepayers under a reorganization to only those reorganizations that involve transfer of ownership and control of a public utility or the parent company of a public utility, rather than all reorganizations.