VA SB145 | 2008 | Regular Session

Virginia Senate Bill 145 (Prior Session Legislation)

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 23 2008 - 100% progression
Action: 2008-04-23 - Governor: Acts of Assembly Chapter text (CHAP0867)

Summary

Natural gas utilities; recovery of capital costs. Establishes a mechanism for a natural gas utility that places a strategic natural gas facility into service on or after July 1, 2008, to recover the entire prudently incurred costs of the facility from the time construction is completed and the asset is placed in service until the State Corporation Commission establishes new rates. Recovery of these costs, which include an allowance for funds used during construction, shall be permitted by allowing the costs to be recorded in the utility's plant accounts and included in rate base for purposes of cost recovery in new rate schedules, in a rate base using the cost of service methodology, or in a performance-based regulation plan. Recovery shall be subject to Commission determination that the costs were prudently incurred. The measure neither authorizes nor denies the recovery of costs submitted to the Commission prior to January 1, 2008, where such costs were the subject of a final order that determined whether the costs were prudently incurred and provided for their accounting and ratemaking treatment.

Title

Natural gas utilities; recovery of funds for capital projects.

History

Date	Chamber	Action
2008-04-23		Governor: Acts of Assembly Chapter text (CHAP0867)
2008-04-23		Governor: Approved by Governor-Chapter 867 (effective 7/1/08)
2008-04-23		House: Signed by Speaker as reenrolled
2008-04-23		Senate: Signed by President as reenrolled
2008-04-23		Senate: Reenrolled bill text (SB145ER2)
2008-04-23		Senate: Reenrolled
2008-04-23		Governor: Governor's recommendation adopted
2008-04-23		House: VOTE: --- ADOPTION (96-Y 1-N)
2008-04-23		House: House concurred in Governor's recommendation (96-Y 1-N)
2008-04-23		Senate: Senate concurred in Governor's recommendation (38-Y 0-N 1-A)
2008-04-22		Senate: Placed on Calendar
2008-04-11		Senate: Governor's recommendation received by Senate
2008-03-11		Senate: Signed by President
2008-03-08		House: Signed by Speaker
2008-03-08		Senate: Bill text as passed Senate and House (SB145ER)
2008-03-08		Senate: Enrolled
2008-03-05		Senate: House substitute agreed to by Senate (39-Y 0-N 1-A)
2008-03-04		House: VOTE: --- PASSAGE #2 (91-Y 7-N)
2008-03-04		House: Passed House with substitute (91-Y 7-N)
2008-03-04		House: Reconsideration of House passage agreed to by House
2008-03-04		House: VOTE: --- PASSAGE (94-Y 4-N)
2008-03-04		House: Passed House with substitute (94-Y 4-N)
2008-03-04		House: Engrossed by House - committee substitute SB145H1
2008-03-04		House: Committee substitute agreed to 089571332-H1
2008-03-04		House: Read third time
2008-03-03		House: Read second time
2008-02-29		House: Committee substitute printed 089571332-H1
2008-02-28		House: Reported from Commerce and Labor with substitute (20-Y 1-N)
2008-02-14		House: Assigned C & L sub: 1
2008-02-13		House: Referred to Committee on Commerce and Labor
2008-02-13		House: Read first time
2008-02-13		House: Placed on Calendar
2008-02-08		Senate: Communicated to House
2008-02-08		Senate: Read third time and passed Senate (39-Y 0-N 1-A)
2008-02-07		Senate: Engrossed by Senate - committee substitute SB145S1
2008-02-07		Senate: Committee substitute agreed to 080141332-S1
2008-02-07		Senate: Reading of substitute waived
2008-02-07		Senate: Read second time
2008-02-06		Senate: Constitutional reading dispensed (39-Y 0-N)
2008-02-05		Senate: Committee substitute printed 080141332-S1
2008-02-04		Senate: Reported from Commerce and Labor with substitute (14-Y 0-N)
2008-01-22		Senate: Assigned C&L sub: Utilities
2008-01-04		Senate: Referred to Committee on Commerce and Labor
2008-01-04		Senate: Prefiled and ordered printed; offered 01/09/08 084619332