AB 2570, as introduced, Quirk. Public Utilities Commission: inspection and audit of books and records.
Under existing law, the Public Utilities Commission has regulatory authority over public utilities and can establish its own procedures, subject to statutory limitations or directions and constitutional requirements of due process. The Public Utilities Act requires the commission to inspect and audit the books and records of certain public utilities, at specified intervals, for regulatory and tax purposes. Existing law requires reports of these inspections and audits and other pertinent information to be furnished to the State Board of Equalization for use in the assessment of public utilities.
This bill would delete the requirement that reports of the inspections and audits and other pertinent information be furnished to the State Board of Equalization.
Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no.
The people of the State of California do enact as follows:
Section 314.5 of the Public Utilities Code is
2amended to read:
The commission shall inspect and audit the books and
2records for regulatory and tax purposes (a) at least once in every
3three years in the case of every electrical, gas, heat, telegraph,
4telephone, and water corporation serving over 1,000 customers,
5and (b) at least once in every five years in the case of every
6electrical, gas, heat, telegraph, telephone, and water corporation
7serving 1,000 or fewer customers. An audit conducted in
8connection with a rate proceeding shall be deemed to fulfill the
9requirements of this section.begin delete Reports of such inspections and audits
10and other pertinent information shall be furnished to the State
11Board of Equalization for use in the assessment of public utilities.end delete
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