AMENDMENT FOR PRINTED BILL
25tb

___________________ moved that SB 25 be amended as follows:

     On page 1 of the printed bill, delete lines 6 to 15 , inclusive, and insert:

"      49-34A-35.   No public utility shall sell, lease or otherwise dispose of its property or business constituting an operating unit or system in this state to another public utility or purchase the property or business constituting an operating unit or system in this state to another public utility or merge or consolidate with another public utility operating in this state, without first being authorized to do so by the Public Utilities Commission; provided, that in the event such sale, lease or other disposition of the property or business of one public utility to another public utility does not involve a sale, lease or disposition wherein the actual consideration exceeds two hundred thousand dollars, such sale, lease or disposition shall not be subject to the provisions of this section No public utility, without first being authorized to do so by the commission, may:

             (1)    Sell, lease, or otherwise dispose of its property or business constituting an operating unit or system in this state to another person;
             (2)    Sell, lease, or otherwise dispose of its operating property or plant used to provide gas or electric service to its customers in this state to another person;
             (3)    Purchase the property or business constituting an operating unit or system in this state of another public utility; or
             (4)    Merge or consolidate with another public utility operating in this state.
     However, if the sale, lease, merger, consolidation, or other disposition of the property or business of one public utility to another person, as provided in subdivisions (1) to (4), inclusive, does not involve a sale, lease, merger, consolidation, or disposition wherein the fair market value exceeds ten million dollars, the sale, lease, merger, consolidation, or disposition is not subject to the restrictions of this section.
     No person may acquire or gain control either directly or indirectly of any public utility doing business in this state that has a fair market value exceeding ten million dollars without the commission's prior authorization. As used in this section, the term, control, means the right to direct or cause the direction of the management and policies of the public utility, whether through the ownership of voting securities, by contract, or otherwise . ".

On page 2 , delete lines 1 to 4 , inclusive.