California Senate Bill SB1314 Latest Draft

 BILL NUMBER: SB 1314INTRODUCED BILL TEXT INTRODUCED BY Senator Blakeslee FEBRUARY 23, 2012 An act to amend Section 1904.1 of the Public Utilities Code, relating to public utilities. LEGISLATIVE COUNSEL'S DIGEST SB 1314, as introduced, Blakeslee. Public Utilities Act: fees. The California Constitution establishes the Public Utilities Commission, with jurisdiction over all public utilities. Existing law, the Public Utilities Act, requires, among other things, the commission to charge and collect a fee for a certificate authorizing an issue of stock, as prescribed. This bill would make technical, nonsubstantive changes in this provision. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 1904.1 of the Public Utilities Code is amended to read: 1904.1.  (a)    The commission shall also charge and collect a fee for a certificate authorizing an issue of stock, which fee shall be computed at the rates set forth in subdivision (b) of Section 1904 and determined by the commission upon the basis of the proposed maximum proceeds. No fee shall be paid on  such   the  portion of any  such  issue as may be used to guarantee, take over, refund, discharge, or retire any stock, bond, note, or other evidence of indebtedness on which a fee has theretofore been paid to the commission.  If   (b)     If  the commission modifies the amount of the issue requested in any case and the applicant thereupon elects not to avail itself of the commission's authorization, no fee shall be paid, and if  such   the  fee is paid prior to the issuance of such certificate by the commission, such fee shall be refunded.