| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | To amend Chapter 4 of Title 46 of the Official Code of Georgia Annotated, relating to |
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| 8 | 8 | | 1 |
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| 9 | 9 | | distribution, storage, and sale of gas, so as to revise provisions concerning required2 |
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| 10 | 10 | | disclosures of electric membership corporations; to provide for related matters; to repeal3 |
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| 11 | 11 | | conflicting laws; and for other purposes.4 |
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| 12 | 12 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5 |
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| 13 | 13 | | SECTION 1.6 |
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| 14 | 14 | | Chapter 4 of Title 46 of the Official Code of Georgia Annotated, relating to distribution,7 |
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| 15 | 15 | | storage, and the sale of gas, is amended by revising Code Section 46-4-164, relating to8 |
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| 16 | 16 | | construction of article, electric membership corporations and EMC gas affiliates, disclosure9 |
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| 17 | 17 | | requirements, and liquefied petroleum gas, as follows:10 |
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| 18 | 18 | | "46-4-164.11 |
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| 19 | 19 | | (a) Nothing in this article shall be deemed to apply or impose requirements not otherwise12 |
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| 20 | 20 | | existing on gas distribution companies owned by any county, municipality, other political13 |
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| 21 | 21 | | subdivision, or governmental authority of this state; nor are the provisions of this article14 |
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| 22 | 22 | | intended to increase or decrease the authority and jurisdiction of the commission with15 |
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| 23 | 23 | | respect to the distribution, sale, or transportation of gas by any county, municipality, other16 |
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| 24 | 24 | | S. B. 256 |
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| 26 | 26 | | political subdivision, or governmental authority of this state. Nothing in this article shall |
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| 27 | 27 | | 17 |
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| 28 | 28 | | be construed to limit or otherwise affect the existing powers of municipal corporations or18 |
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| 29 | 29 | | other political subdivisions of this state relating to the granting of franchises or the levying19 |
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| 30 | 30 | | or imposition of taxes, fees, or charges.20 |
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| 31 | 31 | | (b) Notwithstanding any provision of law to the contrary, including, without limitation,21 |
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| 32 | 32 | | Article 4 of Chapter 3 of this title, an electric membership corporation may make and22 |
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| 33 | 33 | | maintain investments in, lend funds to, and guarantee the debts and obligations of an EMC23 |
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| 34 | 34 | | gas affiliate in total not to exceed 25 percent of such electric membership corporation's net24 |
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| 35 | 35 | | utility plant, excluding electric generation and transmission assets as defined by the Federal25 |
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| 36 | 36 | | Energy Regulatory Commission Uniform System of Accounts in effect at the time of such26 |
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| 37 | 37 | | investment, loan, or guarantee, provided that any such investments or loans shall not reflect27 |
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| 38 | 38 | | rates which are generally available through the use of any tax exempt financing and may28 |
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| 39 | 39 | | not be tied to any loans from or guaranteed by the federal or state government; and an EMC29 |
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| 40 | 40 | | gas affiliate of an electric membership corporation organized and operating pursuant to30 |
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| 41 | 41 | | Article 4 of Chapter 3 of this title may apply for and be granted a certificate of authority31 |
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| 42 | 42 | | to provide any service as authorized under this article. The creation, capitalization, or32 |
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| 43 | 43 | | provision of management for:33 |
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| 44 | 44 | | (1) An EMC gas affiliate engaged in activities subject to the provisions of this article and34 |
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| 45 | 45 | | the rules and regulations established by the commission; or35 |
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| 46 | 46 | | (2) Other persons providing customer services36 |
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| 47 | 47 | | shall be deemed to be among the purposes of an electric membership corporation as37 |
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| 48 | 48 | | specified in paragraphs (2) and (3) of Code Section 46-3-200. Nothing in this article shall38 |
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| 49 | 49 | | be deemed to increase or decrease the authority and jurisdiction of the commission with39 |
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| 50 | 50 | | respect to such electric membership corporation except as to gas activities undertaken by40 |
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| 51 | 51 | | the electric membership corporation or its EMC gas affiliate as authorized under this41 |
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| 52 | 52 | | chapter.42 |
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| 53 | 53 | | S. B. 256 |
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| 55 | 55 | | (c) Within six months following any transaction that causes an electric membership |
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| 56 | 56 | | 43 |
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| 57 | 57 | | corporation to have more than 15 percent of its net utility plant invested in, lent to, or44 |
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| 58 | 58 | | secured for the benefit of its EMC gas affiliate, excluding electric generation and45 |
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| 59 | 59 | | transmission assets as defined by the Federal Energy Regulatory Commission Uniform46 |
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| 60 | 60 | | System of Accounts, such electric membership corporation shall disclose to its members:47 |
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| 61 | 61 | | (1) A description of the assets or interests acquired in the transaction;48 |
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| 62 | 62 | | (2) The date of such transaction;49 |
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| 63 | 63 | | (3) The identification |
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| 64 | 64 | | A description of any assets pledged by the electric membership50 |
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| 65 | 65 | | corporation to secure a loan or other funding in connection with such transaction that51 |
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| 66 | 66 | | forms all or a portion of the assets pledged to secure such loan or other funding;52 |
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| 67 | 67 | | (4) The total amount of the electric membership corporation's assets, debts, and53 |
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| 68 | 68 | | obligations, and those of the EMC gas affiliate; and54 |
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| 69 | 69 | | (5) The total amount of the electric membership corporation's electric generation and55 |
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| 70 | 70 | | transmission assets as defined by the Federal Energy Regulatory Commission Uniform56 |
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| 71 | 71 | | System of Accounts; and57 |
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| 72 | 72 | | (6) The percentage of the electric membership corporation's net utility plant used for the58 |
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| 73 | 73 | | purposes described in subsection (b) of this Code section.59 |
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| 74 | 74 | | (d) An electric membership corporation that has more than 15 percent net utility plant60 |
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| 75 | 75 | | invested in, lent to, or secured for the benefit of its EMC gas affiliate, excluding electric61 |
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| 76 | 76 | | generation and transmission assets as defined by the Federal Energy Regulatory62 |
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| 77 | 77 | | Commission Uniform System of Accounts, shall disclose to its members the annual cost63 |
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| 78 | 78 | | of gas in aggregate that it sells. Such disclosure shall be made on an annual basis.64 |
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| 79 | 79 | | (e) Nothing in this article shall be construed to allow or authorize an electing distribution65 |
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| 80 | 80 | | company, a certificated marketer, or a regulated provider of natural gas to engage in the66 |
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| 81 | 81 | | production, transportation, marketing, or distribution of liquefied petroleum gas; provided,67 |
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| 82 | 82 | | however, that nothing in this article shall be construed to prohibit an electing distribution68 |
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| 83 | 83 | | S. B. 256 |
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