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GA SB422
Bill
Status
Passed
5/6/2024
Primary Sponsor
Clint Dixon
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AI Summary
- Increases the cap on investments, loans, and debt guarantees an electric membership corporation (EMC) may make in an EMC gas affiliate from 15% to 25% of the corporation's net utility plant (excluding electric generation and transmission assets)
- Requires an EMC to disclose specified transaction details to its members within six months of any transaction that causes its gas affiliate investment to exceed 15% of net utility plant
- Required disclosures include a description of assets acquired, transaction date, assets pledged as security, total assets/debts/obligations of both the EMC and its gas affiliate, and total electric generation and transmission assets
- Amends Code Section 46-4-164 of the Official Code of Georgia Annotated (Title 46, relating to public utilities and public transportation)
Legislative Description
Public Utilities and Public Transportation; percentage limitation as to the amount of the investments an electric membership corporation may make; modify
Last Action
Act 565
5/6/2024
Committee Referrals
Energy, Utilities and Telecommunications3/4/2024
Regulated Industries and Utilities1/30/2024
Full Bill Text
No bill text available