THE SENATE S.B. NO. 3285 THIRTY-SECOND LEGISLATURE, 2024 S.D. 1 STATE OF HAWAII A BILL FOR AN ACT RELATING TO PUBLIC UTILITIES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
THE SENATE S.B. NO. 3285
THIRTY-SECOND LEGISLATURE, 2024 S.D. 1
STATE OF HAWAII
THE SENATE
S.B. NO.
3285
THIRTY-SECOND LEGISLATURE, 2024
S.D. 1
STATE OF HAWAII
A BILL FOR AN ACT
RELATING TO PUBLIC UTILITIES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 269, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows: "§269- Sale of public utility. (a) Notwithstanding section 269-19, the public utilities commission shall not approve the sale of a public utility, in whole or in part, to a private entity unless the public utility being offered for sale demonstrates that it first solicited competitive offers for the purchase of the public utility from entities that operate under a non-investor-owned utilities ownership model, and notes whether or not non-investor-owned entities submitted acceptable bids, in any application to the commission requesting authorization of the sale of the public utility. (b) For the purposes of this section, "investor-owned utilities ownership model" means a for-profit enterprise that is publicly or privately owned by shareholders and is operating as a public utility." SECTION 2. New statutory material is underscored. SECTION 3. This Act shall take effect on July 1, 2040.
SECTION 1. Chapter 269, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§269- Sale of public utility. (a) Notwithstanding section 269-19, the public utilities commission shall not approve the sale of a public utility, in whole or in part, to a private entity unless the public utility being offered for sale demonstrates that it first solicited competitive offers for the purchase of the public utility from entities that operate under a non-investor-owned utilities ownership model, and notes whether or not non-investor-owned entities submitted acceptable bids, in any application to the commission requesting authorization of the sale of the public utility.
(b) For the purposes of this section, "investor-owned utilities ownership model" means a for-profit enterprise that is publicly or privately owned by shareholders and is operating as a public utility."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2040.
Report Title: PUC; Public Utilities; Sale; Approval; Non-Investor-Owned Utilities Description: Prohibits the Public Utilities Commission from approving the sale of a public utility, in whole or in part, to a private entity, unless the public utility being offered for sale demonstrates that it solicited competitive offers from an entity operating under a non-investor-owned utilities ownership model, and notes whether or not non-investor-owned entities submitted acceptable bids, in any application to the PUC requesting authorization for a sale of the public utility. Takes effect 7/1/2040. (SD1) The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
Report Title:
PUC; Public Utilities; Sale; Approval; Non-Investor-Owned Utilities
Description:
Prohibits the Public Utilities Commission from approving the sale of a public utility, in whole or in part, to a private entity, unless the public utility being offered for sale demonstrates that it solicited competitive offers from an entity operating under a non-investor-owned utilities ownership model, and notes whether or not non-investor-owned entities submitted acceptable bids, in any application to the PUC requesting authorization for a sale of the public utility. Takes effect 7/1/2040. (SD1)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.