2023 Regular Session ENROLLED
SENATE BILL NO. 51
BY SENATOR MILLIGAN
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
AN ACT
To amend and reenact R.S. 45:1272(9)(b) and to enact R.S. 45:1281(C), relative to utilities;
to provide relative to securitization of energy transition costs; to provide for
definitions, terms, conditions, and procedures; and to provide for related matters.
Be it enacted by the Legislature of Louisiana:
Section 1. R.S. 45:1272(9)(b) is hereby amended and reenacted and R.S. 45:1281(C)
is hereby enacted to read as follows:
§1272. Definitions
As used in this Part:
* * *
(9) "Energy transition costs" means, if requested by the electric utility, and
as may be approved by the commission, costs incurred or to be incurred by an
electric utility consisting of any of the following:
* * *
(b)(i) Costs not previously collected from the electric utility's customers for
previously mined coal or lignite or for the closure and reclamation of an eligible
mine, including land remediation and liabilities. These costs may include the
following:
(aa) Costs not previously collected from the electric utility's customers.
(bb) Costs previously collected from the electric utility's customers but
subsequently ordered by the commission to be refunded to customers. These
costs, including any interest component, ordered to be refunded may be
ACT No. 149
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions. SB NO. 51 ENROLLED
included in the energy transition costs being financed by the energy transition
bonds regardless of whether the refund credits are given before or after the date
the energy transition bonds are issued.
(ii) Energy transition costs shall not include any monetary penalty, fine, or
forfeiture assessed against an electric utility or its affiliate by a government agency
or a court under a federal or state environmental statute, rule, or regulation.
* * *
§1281. No impairment of commission jurisdiction
* * *
C. A utility may finance energy transition costs that were previously
collected from the utility's customers but were subsequently ordered by the
commission to be refunded to customers regardless of the date the costs were
collected or the date the commission issued the refund order.
Section 2. This Act shall become effective upon signature by the governor or, if not
signed by the governor, upon expiration of the time for bills to become law without signature
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If
vetoed by the governor and subsequently approved by the legislature, this Act shall become
effective on the day following such approval.
PRESIDENT OF THE SENATE
SPEAKER OF THE HOUSE OF REPRESENTATIVES
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED:
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.