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NC S867

Bill

Official Source

Status

Introduced

5/22/2012

Primary Sponsor

Thomas Apodaca

Click for details

Origin

Senate

2011-2012 Session

AI Summary

  • Expands application of S.L. 2011-129 from three specific towns (Clayton, Selma, and Smithfield) to all cities and towns that are members of the North Carolina Eastern Municipal Power Agency (NCEMPA).

  • Requires NCEMPA member municipalities to use electric service rate revenue for paying direct and indirect operating costs of the electric system.

  • Allows NCEMPA members to transfer amounts representing a rate of return on investment in the electric system from rate revenue.

  • Permits NCEMPA members to use rate revenue for making debt service payments on electric system obligations.

  • Becomes effective July 1, 2013.

Legislative Description

NCEMPA/Use of Rate Revenue

Last Action

Ref To Com On Commerce

5/23/2012

Committee Referrals

Commerce5/23/2012

Full Bill Text

No bill text available