|BILL AS INTRODUCED||2007-2008|
Introduced by Representatives Shand of Weathersfield, Head of S. Burlington, Andrews of Rutland City, Aswad of Burlington, Atkins of Winooski, Barnard of Richmond, Bissonnette of Winooski, Botzow of Pownal, Bray of New Haven, Brooks of Montpelier, Browning of Arlington, Cheney of Norwich, Clarkson of Woodstock, Condon of Colchester, Consejo of Sheldon, Copeland-Hanzas of Bradford, Courcelle of Rutland City, Davis of Washington, Deen of Westminster, Donovan of Burlington, Edwards of Brattleboro, Emmons of Springfield, Evans of Essex, Fallar of Tinmouth, Fisher of Lincoln, Fitzgerald of St. Albans City, Frank of Underhill, Godin of Milton, Heath of Westford, Howrigan of Fairfield, Hunt of Essex, Hutchinson of Randolph, Jewett of Ripton, Johnson of South Hero, Keenan of St. Albans City, Klein of East Montpelier, Larson of Burlington, Manwaring of Wilmington, Marcotte of Coventry, Marek of Newfane, Martin of Springfield, Martin of Wolcott, Masland of Thetford, McCullough of Williston, Milkey of Brattleboro, Miller of Shaftsbury, Mitchell of Barnard, Monti of Barre City, Mook of Bennington, Moran of Wardsboro, Mrowicki of Putney, Nuovo of Middlebury, Obuchowski of Rockingham, Ojibway of Hartford, Pearson of Burlington, Pellett of Chester, Pillsbury of Brattleboro, Sharpe of Bristol, Sweaney of Windsor, Trombley of Grand Isle and Zuckerman of Burlington
Subject: Public service; regulation of corporations; reorganization
Statement of purpose: This bill proposes to require that reorganizations of companies that need a certificate of public good from the public service board must provide both short- and long-term economic benefits to ratepayers and be in the interest of the company’s investors.
AN ACT RELATING TO THE REORGANIZATION OF COMPANIES REQUIRING A CERTIFICATE OF PUBLIC GOOD FROM THE PUBLIC SERVICE BOARD
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 30 V.S.A. § 107(f) is added to read:
(f) In order to find that an acquisition will promote the public good pursuant to subsection (b) of this section, the board shall find that the acquisition:
(1) provides short-term and long-term economic benefits to ratepayers; and
(2) is consistent with the interests of the company’s investors.
Sec. 2. ECONOMIC IMPACT STUDY
The joint fiscal office shall authorize an economic impact study of the sale of the Vermont Verizon telephone land line system. The study shall determine the impact of the sale on existing jobs, potential jobs, customer service, and the overall system of telecommunications service in the state.
The Vermont General Assembly
115 State Street