Public utilities: rates: changes to federal law.
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Majority
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill updates California law to require the Public Utilities Commission to assess how new federal legislation impacts the tax liabilities and expenses of public utilities. Specifically, it mandates the commission to evaluate the effects of all federal laws, including House Resolution 1 (Public Law 115-97) and House Resolution 1 (Public Law 119-21), and adjust utility rates accordingly if those laws materially affect projected tax liabilities. The bill aims to ensure that rates accurately reflect changes in the federal tax landscape.
Key provisions
- Requires the Public Utilities Commission to evaluate the impact of all federal legislation on public utility tax liabilities.
- Mandates rate adjustments by the commission if federal legislation materially affects projected tax liabilities.
- Specifically references House Resolution 1 (Public Law 115-97) and House Resolution 1 (Public Law 119-21) as examples of federal legislation to be considered.
- Applies only to public utilities where the commission regulates rates and where revenue requirements were based on existing tax rates.
- Does not limit the commission's discretion in adjusting incentives or determining the full effect of tax law changes.
- Allows the commission to allocate impacts from changes in federal tax law over time based on specific circumstances.
Who is affected
- Public Utilities Commission
- Public Utilities
Bill text
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Sponsors
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2 on record
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