PARs Act

Bill: 115-s-1860
Sponsor: full_name: Sen. Inhofe, James M. [R-OK]
Introduced: 2017-09-26
Policy area: Energy
Subjects: Administrative law and regulatory procedures

Corporate finance and management

Electric power generation and transmission

Federal Energy Regulatory Commission (FERC)

Government information and archives

Public utilities and utility rates
Latest action: action_date: 2017-10-03
text: Committee on Energy and Natural Resources Subcommittee on Energy. Hearings held. With printed Hearing: S.Hrg. 115-318.

Summaries:
action_date: 2017-09-26
action_desc: Introduced in Senate
text: <p><b>Parity Across Reviews Act or the <b>PARs Act</b></b></p> <p>This bill amends the Federal Power Act with respect to the prohibition regarding mergers or consolidations by a public utility. Any merger or consolidation of a public utility whose value exceeds $10 million must first be authorized by the Federal Energy Regulatory Commission (FERC).</p> <p>In addition, FERC is required to promulgate a rule within 180 days that mandates any public utility seeking to merge or consolidate to notify FERC, within 30 days of transaction consummation, if the value of such merger or consolidation exceeds $1 million but is less than $10 million.</p>

tv_txt: II 115th CONGRESS 1st Session S. 1860 IN THE SENATE OF THE UNITED STATES September 26, 2017 Mr. Inhofe (for himself and Mr. Heinrich ) introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources A BILL To amend section 203 of the Federal Power Act.

1. Short title This Act may be cited as the Parity Across Reviews Act or the PARs Act . 2. Clarification of facility merger authorization Section 203(a)(1)(B) of the Federal Power Act ( 16 U.S.C. 824b(a)(1)(B) ) is amended by striking such facilities or any part thereof and inserting such facilities, or any part thereof, of a value in excess of $10,000,000 . 3. Notification for certain transactions Section 203(a) of the Federal Power Act ( 16 U.S.C. 824b(a) ) is amended by adding at the end the following new paragraph: (7) (A) Not later than 180 days after the date of enactment of this paragraph, the Commission shall promulgate a rule requiring any public utility that is seeking to merge or consolidate, directly or indirectly, its facilities subject to the jurisdiction of the Commission, or any part thereof, with those of any other person, to notify the Commission of such transaction not later than 30 days after the date on which the transaction is consummated if— (i) such facilities, or any part thereof, are of a value in excess of $1,000,000; and (ii) such public utility is not required to secure an order of the Commission under paragraph (1)(B). (B) In establishing any notification requirement under subparagraph (A), the Commission shall, to the maximum extent practicable, minimize the paperwork burden resulting from the collection of information. . 4. Effective date The amendment made by section 2 shall take effect 180 days after the date of enactment of this Act.