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SB 299 - Under current law, rate adjustments in the purchase price of natural gas that are approved by the Public Service Commission (PSC) shall be exempt from certain provisions relating to business license taxation. The act adds a qualifying provision that any such purchased gas adjustment rates shall include the gas cost portion of net write-offs (i.e., bad debt) incurred by the gas company in providing service to customers. Any such net write-offs may only be recovered once through purchased gas adjustment rates, the act requires an annual true-up of the net write-offs, and the PSC shall annually review gas companies' debt collection efforts. Under current law, a gas company is not able to collect an infrastructure system replacement surcharge (ISRS) for longer than 3 years without holding a new general rate proceeding. The act increases this timeframe to 5 years. This act is similar to HB 2279 (2008). ERIKA JAQUES
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