HI HB2260

Amends Hawaii Revised Statutes Section 269-16(b) to change "or" to "and" in the phrase describing fair return on utility property, requiring property be both "used and useful" rather than "used or useful" for public utility purposes.

Amends Section 269-134(c) to allow high-voltage electric transmission cable systems to be deemed "used and useful for public utility purposes" upon commencing commercial operations, subject to Public Utilities Commission determination and approval.

Allows utilities in Hawaii to earn a fair return on property meeting the "used and useful" standard in ratemaking determinations.

Takes effect upon approval.