HI SB477

Requires the Public Utilities Commission to complete review and issue decisions on merger, consolidation, acquisition, or change of control applications within 9 months for non-electric utilities or 12 months for investor-owned electric utility companies from the date a completed application is filed.

Mandates the Public Utilities Commission establish standards defining what constitutes a completed application, with the consumer advocate able to object within 21 days of receipt.

Allows applicants to waive the applicable time period or extend it by mutual agreement among parties, and permits the commission to require amended applications if initial submissions are deemed incomplete.

Requires the Public Utilities Commission to submit a written report to the legislature within 30 days if a decision is rendered after the prescribed 9-month or 12-month period, detailing the reasons for the delay.

Takes effect June 30, 3000.