AN ACT PROVIDING THAT THE CITIES AND TOWNS THAT ARE MEMBERS OF THE NORTH CAROLINA EASTERN MUNICIPAL POWER AGENCY SHALL USE REVENUE DERIVED FROM RATES FOR ELECTRIC SERVICE FOR PAYING THE DIRECT AND INDIRECT COSTS OF OPERATING THE ELECTRIC SYSTEM, TRANSFERRING AMOUNTS THAT REPRESENT A RATE OF RETURN ON THE INVESTMENT IN THE ELECTRIC SYSTEM, AND MAKING DEBT SERVICE PAYMENTS, AND TO MAKE CLARIFYING CHANGES TO THE AMOUNT OF THE RETURN ON INVESTMENT TRANSFER. Summarized in Daily Bulletin 5/23/12 and 6/6/12. Enacted July 12, 2012. Section 1 is effective July 1, 2014. The remainder is effective July 12, 2012.
Summary date: Jul 17 2012 - View summary
Bill H 1114 (2011-2012)Summary date: Jun 6 2012 - View summary
House committee substitute makes the following changes to 1st edition. Amends SL 2011-129 to set out the local governments of the NC Eastern Municipal Power agency that the act applies to. Makes the change effective July 1, 2014 (was, July 1, 2013).
Adds a section to clarify in GS 159B-39(c) that the amount transferred to other funds of the municipality as a rate of return on the municipality’s investment in the electric system may be less than, but not greater than, the specified percentages.
Bill H 1114 (2011-2012)Summary date: May 23 2012 - View summary
Identical to S 867, filed 5/22/12.
As title indicates. Effective July 1, 2013.