PRINTER'S NO. 510
No. 486 Session of 1989
INTRODUCED BY LEMMOND, SALVATORE, PORTERFIELD, MUSTO, PECORA,
WILT, AFFLERBACH, MADIGAN, RHOADES AND STOUT,
FEBRUARY 9, 1989
REFERRED TO CONSUMER PROTECTION AND PROFESSIONAL LICENSURE,
FEBRUARY 9, 1989
AN ACT
1 Amending the act of March 1, 1988 (P.L.82, No.16), entitled "An
2 act providing for the establishment, implementation and
3 administration of the Pennsylvania Infrastructure Investment
4 Authority; imposing powers and duties on a board of trustees;
5 transferring the rights, powers, duties and obligations of
6 the Water Facilities Loan Board to the Pennsylvania
7 Infrastructure Investment Authority; providing for the
8 issuance of notes and bonds; providing for financial
9 assistance and for a comprehensive water facilities plan;
10 authorizing a referendum to incur indebtedness; making an
11 appropriation; and making repeals," further providing for
12 expedited approval of rate relief.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. Section 14 of the act of March 1, 1988 (P.L.82,
16 No.16), known as the Pennsylvania Infrastructure Investment
17 Authority Act, is amended to read:
18 Section 14. Expedited approval of rate relief.
19 For the limited and special purpose of ensuring repayment of
20 principal and interest on loans made pursuant to this act, the
21 Pennsylvania Public Utility Commission shall approve such
22 security issues, affiliated interest agreements and rate
1 increase requests by applicants that are regulated utilities as
2 are necessary and appropriate. For this purpose, the
3 Pennsylvania Public Utility Commission shall establish such
4 expedited practices, procedures and policies as necessary to
5 facilitate and accomplish repayment of the loans. Nothing in
6 this act shall be construed as to require approval of rate
7 increases greater than that necessary to accomplish the
8 repayment of loans made pursuant to this act. Nothing in this
9 act shall be construed as to require approval of rate increases
10 where the Pennsylvania Public Utility Commission has determined
11 the facility is not used and useful within the meaning of the
12 Public Utility Code.
13 Section 2. This act shall take effect in 60 days.
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