Bill Text: CA SB1314 | 2011-2012 | Regular Session | Introduced
Bill Title: Public Utilities Act: fees.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-03-08 - Referred to Com. on RLS. [SB1314 Detail]
Download: California-2011-SB1314-Introduced.html
BILL NUMBER: SB 1314 INTRODUCED
BILL TEXT
INTRODUCED BY Senator Blakeslee
FEBRUARY 23, 2012
An act to amend Section 1904.1 of the Public Utilities Code,
relating to public utilities.
LEGISLATIVE COUNSEL'S DIGEST
SB 1314, as introduced, Blakeslee. Public Utilities Act: fees.
The California Constitution establishes the Public Utilities
Commission, with jurisdiction over all public utilities.
Existing law, the Public Utilities Act, requires, among other
things, the commission to charge and collect a fee for a certificate
authorizing an issue of stock, as prescribed.
This bill would make technical, nonsubstantive changes in this
provision.
Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 1904.1 of the Public Utilities Code is amended
to read:
1904.1. (a) The commission shall also
charge and collect a fee for a certificate authorizing an issue of
stock, which fee shall be computed at the rates set forth in
subdivision (b) of Section 1904 and determined by the commission upon
the basis of the proposed maximum proceeds. No fee shall be paid on
such the portion of any such
issue as may be used to guarantee, take over, refund,
discharge, or retire any stock, bond, note, or other evidence of
indebtedness on which a fee has theretofore been paid to the
commission.
If
(b) If the commission modifies
the amount of the issue requested in any case and the applicant
thereupon elects not to avail itself of the commission's
authorization, no fee shall be paid, and if such
the fee is paid prior to the issuance of such certificate
by the commission, such fee shall be refunded.
