2001-2002 Bill 1180: Public Service Commission Regulation, Bond for Wastewater Utilities

BIL:1180

TYP:Joint Resolution JR

INB:Senate

IND:20020403

PSP:Judiciary Committee SJ 11

SPO:Judiciary Committee

DDN:l:\s-jud\bills\judiciary\jud0115.jud.doc

RBY:House

COM:Ways and Means Committee 30 HWM

SUB:Public Service Commission regulation, bond for wastewater utilities and water utilities (D.No. 2663)

HST:

BodyDateAction DescriptionComLeg Involved

______

House20020409Introduced, read first time,30 HWM

referred to Committee

Senate20020405Read third time, sent to House

Senate20020404Read second time, unanimous consent

for third reading on the next

Legislative day

Senate20020403Introduced, read first time,

placed on Calendar without reference

Versions of This Bill

Revised on 20020403

TXT:

INTRODUCED

April 3, 2002

S.1180

Introduced by Judiciary Committee

S. Printed 4/3/02--S.

Read the first time April 3, 2002.

[1180-1]

A JOINT RESOLUTION

TO APPROVE REGULATIONS OF THE PUBLIC SERVICE COMMISSION, RELATING TO THE AMOUNT OF THE BOND FOR WASTEWATER UTILITIES AND WATER UTILITIES, DESIGNATED AS REGULATION DOCUMENT NUMBER 2663, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE 1976 CODE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION1.The regulations of the Public Service Commission, relating to the amount of the bond for wastewater utilities and water utilities, designated as Regulation Document Number 2663, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the 1976 Code, are approved.

SECTION2.This joint resolution takes effect upon approval by the Governor.

XXX

SUMMARY AS SUBMITTED

BY PROMULGATING AGENCY.

26 S.C. Code Ann. Regs. 103512.3.1 and 103712.3.1 are being amended to comply with S.C. Code Ann. Section 585720 (Supp. 2001).

103512.3.1.This regulation is being amended to specify the amount of bond for wastewater utilities shall be based on, but not limited to, the total amount of the following categories of expenses for twelve months: Operation and Maintenance Expenses, General and Administrative Expenses, Taxes Other than Income Taxes, Income Taxes, and Debt Service Including Interest Expenses. Additionally, Regulation 103512.3.1. is being amended by increasing the minimum and maximum amount of bonds that wastewater utilities must post with the Commission. Finally, Regulation 103512.3.1. is being amended to instruct the Commission Staff to review the annual reports and certifications of wastewater utilities and to make recommendations for increasing or reducing the amount of the bond within the minimum and maximum limits prescribed by S.C. Code Ann. Section 585720 (Supp. 2001).

103712.3.1.This regulation is being amended to specify the amount of bond for water utilities shall be based on, but not limited to, the total amount of the following categories of expenses for twelve months: Operation and Maintenance Expenses, General and Administrative Expenses, Taxes Other than Income Taxes, Income Taxes, and Debt Service Including Interest Expenses. Additionally, Regulation 103712.3.1. is being amended by increasing the minimum and maximum amount of bonds that water utilities must post with the Commission. Finally, Regulation 103712.3.1. is being amended to instruct the Commission Staff to review the annual reports and certifications of water utilities and to make recommendations for increasing or reducing the amount of the bond within the minimum and maximum limits prescribed by S.C. Code Ann. Section 585720 (Supp. 2001).

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