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HF 235

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:34am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8
1.9 1.10

A bill for an act
 relating to utilities; prohibiting public utility from acquiring nonutility company;
proposing coding for new law in Minnesota Statutes, chapter 216B.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [216B.481] ACQUIRING NONUTILITY BUSINESS PROHIBITED.
 new text end

new text begin A public utility, or a holding company of which the public utility is a member
company, may not acquire an interest in a company that is not a public utility or that does
not receive 50 percent or more of its revenue from electric or gas utility-related business.
 new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 applies to acquisitions made on or after August 1, 2009.
 new text end