HB1291 Summary

• Repeals conflicting provisions from Acts 2021, No. 404 that were superseded by Acts 2021, No. 894 and makes technical corrections to Title 23 regarding public utilities

• Amends Arkansas Code § 23-4-422 to change reference dates from January 1, 2015 to January 1, 2021 for cost allocation methods used by the Public Service Commission in determining electric and natural gas utility rates

• Modifies the Formula Rate Review Act (§ 23-4-1205 through § 23-4-1208) to establish procedures for electric utilities with large customer classes to adjust rate design and cost allocation during extension terms of formula rate review mechanisms

• Corrects criminal offense classifications in multiple sections (§§ 23-4-604, 23-4-605, 23-10-429, 23-10-441, 23-12-802, 23-12-805, 23-12-807, 23-17-106) by replacing outdated "shall be deemed guilty" language with "is guilty"

• Contains an emergency clause declaring the act necessary for maintaining stable utility rates and establishing regulatory procedures, with an effective date of March 2, 2023