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ROBERT L. EHRLICH, JR., Governor Ch. 5
plan is less than 25% of the total residential customers of the electric company, the
Public Service Commission shall require the electric company to apply a portion of the
authorized reasonable return revenue to reducing rates.
(6) The total amount of authorized reasonable return that the electric
company is required to apply to reduce rates is the amount by which the total dollar
amount of carrying charges that would have been paid if 25% of the customers had
participated in the plan during the deferral period exceeds the carrying charges
actually paid.
SECTION 21. AND BE IT FURTHER ENACTED, That the provisions of Section
3 of this Act relating to the holding of stock by a corporation operating in Maryland
shall be construed to apply only prospectively and may not be applied or interpreted
to have any effect on or application to any stock acquired before the effective date of
this Act.
SECTION 22. AND BE IT FURTHER ENACTED, That:
(a) If any provision of this Act or the application thereof to any person or
circumstance is held invalid for any reason in a court of competent jurisdiction, the
invalidity does not affect other provisions or any other application of this Act which
can be given effect without the invalid provision or application, and for this purpose
the provisions of this Act are declared severable.
(b) If § 12(1) of this Act is held invalid, then the term of the Chairman and
each member of the Public Service Commission is eliminated and these public officers
serve at the pleasure of the Attorney General, who is authorized to terminate their
service and appoint their successors.
(c) If § 12(2) and (3) of this Act are held invalid, then the Attorney General
shall appoint the Chairman and each member of the Public Service Commission in
accordance with the remaining provisions of § 12 of this Act.
SECTION 23. AND BE IT FURTHER ENACTED, That Section 2 of this Act
shall be applicable to all taxable years beginning after December 31, 2005.
SECTION 24. AND BE IT FURTHER ENACTED, That Section 3 of this Act
shall take effect January 1, 2007, except that §§ 5-203, 6-101, 6-102, and 6-103 of
the Public Utility Companies Article, as enacted by this Act, shall take effect July 1,
2007.
SECTION 25. AND BE IT FURTHER ENACTED, That this Act is an emergency
measure, is necessary for the immediate preservation of the public health or safety,
has been passed by a yea and nay vote supported by three—fifths of all the members
elected to each of the two Houses of the General Assembly, and shall, except as
provided in Section 24 of this Act, take effect from the date it is enacted. If this Act
does not secure sufficient votes to pass as an emergency measure, it shall take effect
July 1, 2006, pursuant to Article III, § 31 of the Maryland Constitution.
Enacted June 23, 2006.
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