| Passed by the Senate February 25, 2009 YEAS 48 BRAD OWEN ________________________________________ President of the Senate Passed by the House March 30, 2009 YEAS 97 FRANK CHOPP ________________________________________ Speaker of the House of Representatives | I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SUBSTITUTE SENATE BILL 5055 as passed by the Senate and the House of Representatives on the dates hereon set forth. THOMAS HOEMANN ________________________________________ Secretary | |
| Approved April 8, 2009, 3:27 p.m. CHRISTINE GREGOIRE ________________________________________ Governor of the State of Washington | April 9, 2009 Secretary of State State of Washington |
| State of Washington | 61st Legislature | 2009 Regular Session |
READ FIRST TIME 02/05/09.
AN ACT Relating to protecting the interests of customers of public service companies in proceedings before the Washington utilities and transportation commission; amending RCW 80.12.010, 80.12.020, and 80.12.030; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 The legislature finds and declares that the
Washington utilities and transportation commission should require that
a net benefit to customers be shown in order to approve the acquisition
of the franchises, properties, or facilities owned by a gas or
electrical company in the state and which are necessary or useful in
the performance of the duties of a gas or electrical company, and that
its decision to approve or deny such an acquisition should be made
within a prescribed period of time.
Sec. 2 RCW 80.12.010 and 1961 c 14 s 80.12.010 are each amended
to read as follows:
((The term)) The definitions in this section apply throughout this
chapter unless the context clearly requires otherwise.
(1) "Person" means an individual, partnership, joint venture,
corporation, association, firm, public service company, or any other
entity, however organized.
(2) "Public service company((,))" ((as used in this chapter,
shall)) means every company now or hereafter engaged in business in
this state as a public utility and subject to regulation as to rates
and service by the utilities and transportation commission under the
provisions of this title.
Sec. 3 RCW 80.12.020 and 1981 c 117 s 1 are each amended to read
as follows:
(1) No public service company shall sell, lease, assign or
otherwise dispose of the whole or any part of its franchises,
properties or facilities whatsoever, which are necessary or useful in
the performance of its duties to the public, and no public service
company shall, by any means whatsoever, directly or indirectly, merge
or consolidate any of its franchises, properties or facilities with any
other public service company, without having secured from the
commission an order authorizing it ((so)) to do((: PROVIDED, That))
so. The commission shall not approve any transaction under this
section that would result in a person, directly or indirectly,
acquiring a controlling interest in a gas or electrical company without
a finding that the transaction would provide a net benefit to the
customers of the company.
(2) This section shall not apply to any sale, lease, assignment or
other disposal of such franchises, properties or facilities to a
special purpose district as defined in RCW 36.96.010, city, county, or
town.
Sec. 4 RCW 80.12.030 and 1961 c 14 s 80.12.030 are each amended
to read as follows:
(1) Any such sale, lease, assignment, or other disposition, merger
or consolidation made without authority of the commission shall be
void.
(2) The commission shall enter an order approving or denying a
transaction under RCW 80.12.020 or 80.12.040 within eleven months of
the
date of filing, which the commission may extend up to four months
for cause.