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House Bill 1045

House Bill 1045

ARCHIVE (2006)

Latest Information


IURC merger and fining authority. Provides that a merger, consolidation, reorganization, or stock transaction involving an energy company may not occur without the approval of the utility regulatory commission (IURC) if the transaction will cause more than 51% of the company's voting stock to be held by different interests. Requires the IURC to approve the transaction unless the resulting entity will lack the capability to provide adequate and reliable service. Allows the IURC to impose a civil penalty of up to $5,000 if a public utility providing energy services violates any: (1) utility law; or (2) rate or service requirement imposed by the IURC. Allows the IURC to impose an additional penalty of up to $10,000 if the violation demonstrates a willful disregard by the public utility of its duty to remedy the violation. Specifies that a suit to recover a penalty imposed by the IURC shall be brought by the attorney general.
Current Status:
In Committee - first House
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