as introduced - 92nd Legislature (2021 - 2022) Posted on 03/02/2022 03:49pm
A bill for an act
relating to utilities; increasing an acquisition cost limit requiring Public Utilities
Commission approval; amending Minnesota Statutes 2020, section 216B.50,
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2020, section 216B.50, subdivision 1, is amended to read:
No public utility shall sell, acquire,
lease, or rent any plant as an operating unit or system in this state for a total consideration
in excess of deleted text begin$100,000deleted text endnew text beginnew text end, or merge or consolidate with another public utility or
transmission company operating in this state, without first being authorized so to do by the
commission. Upon the filing of an application for the approval and consent of the
commission, the commission shall investigate, with or without public hearing. The
commission shall hold a public hearing, upon such notice as the commission may require.
If the commission finds that the proposed action is consistent with the public interest, it
shall give its consent and approval by order in writing. In reaching its determination, the
commission shall take into consideration the reasonable value of the property, plant, or
securities to be acquired or disposed of, or merged and consolidated.
This section does not apply to the purchase of property to replace or add to the plant of
the public utility by construction.