S-1796.1  _______________________________________________

                    SUBSTITUTE SENATE BILL 5628

          _______________________________________________

State of Washington      55th Legislature     1997 Regular Session

By Senate Committee on Energy & Utilities (originally sponsored by Senators Hochstatter, Deccio, Brown and Strannigan)

Read first time 02/24/97.

Authorizing the utilities and transportation commission to exempt electrical and natural gas companies from securities regulation.

    AN ACT Relating to the regulation of securities issuances by electrical and natural gas companies; and adding a new section to chapter 80.08 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 80.08 RCW to read as follows:

    The commission may from time to time by order or rule, and subject to such terms and conditions as may be prescribed in the order or rule, exempt any security or any class of securities for which a filing is required under this chapter or any electrical or natural gas company or class of electrical or natural gas company from the provisions of this chapter if it finds that the application of this chapter to such security, class of securities, electrical or natural gas company, or class of electrical or natural gas company is not required by the public interest.

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