Jim Beall
- Democratic
Author
Under existing law, the Public Utilities Commission has regulatory authority over public utilities, including water corporations, as defined. Under the Public Utilities Act, a public utility is required to seek commission approval prior to selling, leasing, assigning, mortgaging, or otherwise disposing of or encumbering any property necessary or useful in the performance of its duties to the public. Existing law authorizes regional park and open-space districts to acquire, and to lease or dispose of, real property, and rights in real property, within or without the regional district, that are necessary to the full exercise of the regional district's powers. This bill would authorize the San Jose Water Company to sell lands in the Upper Guadalupe River watershed, including the Los Gatos Creek and Saratoga Creek watersheds, to the Midpeninsula Regional Open Space District until January 1, 2023, as specified. The bill would require the water company to invest the net proceeds, if any, from the sale of land authorized by the bill in water system infrastructure, plant, facilities, and properties that are necessary or useful in the performance of its duties to the public. The bill would require the investment of the net proceeds to be included among the water company's other utility property upon which the commission authorizes the water company to earn a reasonable rate of return, as specified. The bill would provide that these requirements apply to the investment of the net proceeds from the sale for a period of 8 consecutive years, as prescribed, and would require the balance of any net proceeds and interest on the proceeds that is not invested after the 8-year period to be allocated solely to the water company ratepayers.
Chaptered by Secretary of State. Chapter 359, Statutes of 2017.
Approved by the Governor.
Enrolled and presented to the Governor at 3 p.m.
Read third time. Passed. (Ayes 69. Noes 6. Page 2850.) Ordered to the Senate.
In Senate. Ordered to engrossing and enrolling.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 15. Noes 0.) (August 23).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 14. Noes 0.) (July 12). Re-referred to Com. on APPR.
July 5 hearing postponed by committee.
From committee: Do pass and re-refer to Com. on U. & E. (Ayes 13. Noes 0.) (June 13). Re-referred to Com. on U. & E.
Referred to Coms. on W.,P., & W. and U. & E.
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 39. Noes 0. Page 952.) Ordered to the Assembly.
Read second time. Ordered to third reading.
From committee: Be ordered to second reading pursuant to Senate Rule 28.8.
Set for hearing May 1.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 10. Noes 1. Page 727.) (April 18). Re-referred to Com. on APPR.
Set for hearing April 18.
From committee: Do pass and re-refer to Com. on E., U. & C. (Ayes 9. Noes 0.) (March 28). Re-referred to Com. on E., U. & C.
From committee with author's amendments. Read second time and amended. Re-referred to Com. on N.R. & W.
Set for hearing March 28.
Referred to Coms. on N.R. & W. and E., U. & C.
From printer. May be acted upon on or after March 19.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB492 | HTML |
| 02/16/17 - Introduced | |
| 03/20/17 - Amended Senate | |
| 09/01/17 - Enrolled | |
| 09/28/17 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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