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ROBERT L. EHRLICH, JR., Governor S.B. 1
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(2) $9.6 million shall be collected from the residential class.
7-513.
(F) THIS SECTION DOES NOT APPLY TO RATE STABILIZATION COSTS
ESTABLISHED OR QUALIFIED RATE ORDERS ISSUED UNDER PART III OR PART IV OF
THIS SUBTITLE.
7-519. RESERVED.
PART III. RATE STABILIZATION.
7-520.
(A) IN THIS PART THE FOLLOWING WORDS HAVE THE MEANINGS INDICATED.
(B) "ASSIGNEE" MEANS ANY INDIVIDUAL, CORPORATION, OR OTHER LEGALLY
RECOGNIZED ENTITY TO WHICH AN ELECTRIC COMPANY TRANSFERS ALL OR A
PORTION OF ITS INTEREST IN RATE STABILIZATION PROPERTY, OTHER THAN AS
SECURITY, INCLUDING ANY ASSIGNEE OF THAT PARTY.
(C) (1) "FINANCING PARTY' MEANS A HOLDER OF RATE STABILIZATION
BONDS.
(2) "FINANCING PARTY" INCLUDES A TRUSTEE, COLLATERAL AGENT,
AND ANY OTHER PERSON ACTING FOR THE BENEFIT OF THE HOLDER
(D) "QUALIFIED RATE ORDER" MEANS AN ORDER OF THE COMMISSION
APPROVING ONE OR MORE QUALIFIED RATE STABILIZATION CHARGES.
(E) "QUALIFIED RATE STABILIZATION CHARGE" MEANS THAT PORTION OF A
USAGE-BASED NONBYPASSABLE RATE, CHARGE, OR SIMILAR APPROPRIATE
MECHANISM FOR THE PROVISION, AVAILABILITY, OR TERMINATION OF ELECTRIC
SERVICE, APPROVED IN CONNECTION WITH A RATE STABILIZATION PLAN IN
ACCORDANCE WITH § 7-522 OR § 7-548 OF THIS SUBTITLE, THAT A QUALIFIED RATE
ORDER OF THE COMMISSION AUTHORIZES TO BE IMPOSED FOR THE RECOVERY OF
RATE STABILIZATION COSTS.
(F) "RATE STABILIZATION BOND" MEANS A BOND, DEBENTURE, NOTE,
CERTIFICATE OF PARTICIPATION OR BENEFICIAL INTEREST, OR OTHER EVIDENCE
OF INDEBTEDNESS OR OWNERSHIP THAT:
(1) IS AUTHORIZED IN A QUALIFIED RATE ORDER AND ISSUED UNDER
AN EXECUTED TRUST INDENTURE OR OTHER AGREEMENT OF AN ELECTRIC
COMPANY OR ASSIGNEE; AND
(2) IS SECURED BY, EVIDENCES AN OWNERSHIP INTEREST IN, OR IS
PAYABLE FROM RATE STABILIZATION PROPERTY.
(G) (1) "RATE STABILIZATION COST" MEANS A COST, LIABILITY, OR
INVESTMENT THAT AN ELECTRIC COMPANY INCURS OR WILL INCUR UNDER A RATE
STABILIZATION PLAN APPROVED BY THE COMMISSION.
(2) "RATE STABILIZATION COST' INCLUDES:
- 149 -•
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