H. R. 6—382
SEC. 1265. STATE ACCESS TO BOOKS AND RECORDS. 
(a) IN GENERAL.—Upon the written request of a State commis-
sion having jurisdiction to regulate a public-utility company in 
a holding company system, the holding company or any associate 
company or affiliate thereof, other than such public-utility company, 
wherever located, shall produce for inspection books, accounts, 
memoranda, and other records that— 
(1) have been identified in reasonable detail in a proceeding 
before the State commission; 
(2) the State commission determines are relevant to costs 
incurred by such public-utility company; and 
(3) are necessary for the effective discharge of the respon-
sibilities of the State commission with respect to such pro-
ceeding. 
(b) LIMITATION.—Subsection (a) does not apply to any person 
that is a holding company solely by reason of ownership of one 
or more qualifying facilities under the Public Utility Regulatory 
Policies Act of 1978 (16 U.S.C. 2601 et seq.). 
(c) CONFIDENTIALITY
OF
INFORMATION.—The production of 
books, accounts, memoranda, and other records under subsection 
(a) shall be subject to such terms and conditions as may be nec-
essary and appropriate to safeguard against unwarranted disclosure 
to the public of any trade secrets or sensitive commercial informa-
tion. 
(d) EFFECT ON STATE LAW.—Nothing in this section shall pre-
empt applicable State law concerning the provision of books, 
accounts, memoranda, and other records, or in any way limit the 
rights of any State to obtain books, accounts, memoranda, and 
other records under any other Federal law, contract, or otherwise. 
(e) COURT JURISDICTION.—Any United States district court 
located in the State in which the State commission referred to 
in subsection (a) is located shall have jurisdiction to enforce compli-
ance with this section. 
SEC. 1266. EXEMPTION AUTHORITY. 
(a) RULEMAKING.—Not later than 90 days after the effective 
date of this subtitle, the Commission shall issue a final rule to 
exempt from the requirements of section 1264 (relating to Federal 
access to books and records) any person that is a holding company, 
solely with respect to one or more— 
(1) qualifying facilities under the Public Utility Regulatory 
Policies Act of 1978 (16 U.S.C. 2601 et seq.); 
(2) exempt wholesale generators; or 
(3) foreign utility companies. 
(b) OTHER AUTHORITY.—The Commission shall exempt a person 
or transaction from the requirements of section 1264 (relating to 
Federal access to books and records) if, upon application or upon 
the motion of the Commission— 
(1) the Commission finds that the books, accounts, memo-
randa, and other records of any person are not relevant to 
the jurisdictional rates of a public utility or natural gas com-
pany; or 
(2) the Commission finds that any class of transactions 
is not relevant to the jurisdictional rates of a public utility 
or natural gas company.
H. R. 6—383
SEC. 1267. AFFILIATE TRANSACTIONS. 
(a) COMMISSION AUTHORITY UNAFFECTED.—Nothing in this sub-
title shall limit the authority of the Commission under the Federal 
Power Act (16 U.S.C. 791a et seq.) to require that jurisdictional 
rates are just and reasonable, including the ability to deny or 
approve the pass through of costs, the prevention of cross-subsidiza-
tion, and the issuance of such rules and regulations as are necessary 
or appropriate for the protection of utility consumers. 
(b) RECOVERY OF COSTS.—Nothing in this subtitle shall preclude 
the Commission or a State commission from exercising its jurisdic-
tion under otherwise applicable law to determine whether a public-
utility company, public utility, or natural gas company may recover 
in rates any costs of an activity performed by an associate company, 
or any costs of goods or services acquired by such public-utility 
company from an associate company. 
SEC. 1268. APPLICABILITY. 
Except as otherwise specifically provided in this subtitle, no 
provision of this subtitle shall apply to, or be deemed to include— 
(1) the United States; 
(2) a State or any political subdivision of a State; 
(3) any foreign governmental authority not operating in 
the United States; 
(4) any agency, authority, or instrumentality of any entity 
referred to in paragraph (1), (2), or (3); or 
(5) any officer, agent, or employee of any entity referred 
to in paragraph (1), (2), (3), or (4) acting as such in the course 
of his or her official duty. 
SEC. 1269. EFFECT ON OTHER REGULATIONS. 
Nothing in this subtitle precludes the Commission or a State 
commission from exercising its jurisdiction under otherwise 
applicable law to protect utility customers. 
SEC. 1270. ENFORCEMENT. 
The Commission shall have the same powers as set forth in 
sections 306 through 317 of the Federal Power Act (16 U.S.C. 
825e–825p) to enforce the provisions of this subtitle. 
SEC. 1271. SAVINGS PROVISIONS. 
(a) IN GENERAL.—Nothing in this subtitle, or otherwise in the 
Public Utility Holding Company Act of 1935, or rules, regulations, 
or orders thereunder, prohibits a person from engaging in or con-
tinuing to engage in activities or transactions in which it is legally 
engaged or authorized to engage on the date of enactment of this 
Act, if that person continues to comply with the terms (other than 
an expiration date or termination date) of any such authorization, 
whether by rule or by order. 
(b) EFFECT ON OTHER COMMISSION AUTHORITY.—Nothing in 
this subtitle limits the authority of the Commission under the 
Federal Power Act (16 U.S.C. 791a et seq.) or the Natural Gas 
Act (15 U.S.C. 717 et seq.). 
(c) TAX TREATMENT.—Tax treatment under section 1081 of the 
Internal Revenue Code of 1986 as a result of transactions ordered 
in compliance with the Public Utility Holding Company Act of 
1935 (15 U.S.C. 79 et seq.) shall not be affected in any manner 
due to the repeal of that Act and the enactment of the Public 
Utility Holding Company Act of 2005.