FORTY-NINTH LEGISLATURE SB 477/a

FIRST SESSION, 2009

February 24, 2009

Madam President:

    Your CONSERVATION COMMITTEE, to whom has been referred

SENATE BILL 477

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

    1. On page 7, line 15, after "a", strike the remainder of the line and strike line 16 through the second occurrence of "the".

    2. On page 7, line 17, strike "on", and insert in lieu thereof "no later than".

    3. On page 8, line 23, after the subsection designation "D.", strike the remainder of the line, strike lines 24 and 25 in their entirety and insert in lieu thereof "The commission shall set rates based on a test period that".

    4. On page 9, line 3, after the period, strike the remainder of the line, strike lines 4 through 7 in their entirety and insert in lieu thereof "If a future test period is proposed, the commission shall give due consideration that the future test period may best reflect those conditions.".

    5. On page 9, strike lines 8 through 25 in their entirety.

    6. On page 10, strike lines 1 through 7 in their entirety.

    7. On page 10, between lines 7 and 8, insert the following new subsection:

         "E. Upon a request to include construction work in progress in the rate base, the commission shall grant the request only upon a finding that a project's costs are reasonable. The commission shall not include the associated allowance for funds used during construction in income. The projects for which the commission shall grant a request include environmental improvement projects and generation and transmission investments for which the utility has obtained a certificate of public convenience and necessity; provided that the projects are anticipated to be in service no later than five months after the end of a utility's test period, but in no event later than twenty-four months after the filing date of a utility's rate proceeding."".,

and thence referred to the CORPORATIONS AND TRANSPORTATION COMMITTEE.

                               Respectfully submitted,

                               __________________________________

                               Bernadette M. Sanchez, Chairman

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 7 For 0 Against

Yes:      7

No:       0

Excused: Sanchez, B.

Absent:   None

SB0477CO1                                                  .177372.2