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IN HB1407

Bill

Official Source

Status

Introduced

1/22/2013

Primary Sponsor

Gail Riecken

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Requires Indiana Utility Regulatory Commission approval before a public utility can sell, transfer, lease, or encumber its stock, franchise, works, or system
  • Mandates commission approval for public utility reorganizations, including mergers, changes in majority voting stock ownership, or acquisition of substantially all assets of another utility
  • Requires commission approval before any person acquires control (defined as 10% or more voting power) of a public utility or its holding company
  • Prohibits holding companies controlling at least one public utility from acquiring control of another utility company without commission approval
  • Exempts corporations organized under rural electric membership corporation statutes (IC 8-1-13) and certain nonprofit corporations with local district corporation members

Legislative Description

Utility company mergers.

Last Action

First reading: referred to Committee on Utilities and Energy

1/22/2013

Committee Referrals

Utilities and Energy1/22/2013

Full Bill Text

No bill text available