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Ch. 5 2006 LAWS OF MARYLAND
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public service companies incorporated in the State to apply to public service
companies operating in the State; prohibiting the lending of money from a
public service company to an affiliate on certain terms without the prior
approval of the Commission; prohibiting a person from acquiring certain public
service companies without the prior approval of the Commission; providing for
the application and review of certain proposed acquisitions; requiring the
disclosure of certain information by certain persons in connection with certain
proposed acquisitions; establishing certain factors that the Commission must
consider in assessing certain acquisitions; providing that the Commission may
only approve certain acquisitions if the acquisitions are consistent with the
public interest, convenience, and necessity; stating certain findings and
declarations of the General Assembly; requiring the inclusion of certain
conditions in any approval of a merger between two certain companies;
prohibiting the Commission from approving a certain proposed merger before
the occurrence of certain events; requiring the Commission to conduct certain
proceedings in connection with a certain merger and in connection with
reevaluation of certain matters relating to the Electric Customer Choice and
Competition Act of 1999 and related matters, including the determination of and
allowance for certain stranded costs; requiring the Commission to incorporate
certain funds and adjustments in a certain plan for certain residential
customers; requiring the Commission to initiate certain other proceedings to
study and report on certain matters; requiring the State Department of
Assessments and Taxation to study and report on certain matters; requiring
that certain costs be borne by public service companies in a certain manner;
providing for a certain mitigation plan for certain electric companies; requiring
the Commission to initiate a certain proceeding to investigate certain options for
standard offer service in a certain service territory; providing for the
termination of the terms of the current members of the Commission and the
appointment and terms of new members of the Commission in a certain manner;
providing for the continued service of the current People's Counsel at the
pleasure of the Attorney General; directing the Attorney General to intervene in
certain proceedings regarding a certain merger; providing certain
appropriations to certain units; providing for the venue and certain related
matters concerning actions to challenge provisions of this Act; prohibiting the
use of State funds for certain purposes; requiring the Commission, through the
modification of a certain order, to require certain electric companies to provide
an additional time period in which residential customers may opt in to a certain
rate mitigation plan; authorizing certain electric companies to continue to
collect an authorized reasonable return for providing certain service under
certain circumstances; defining certain terms; providing for the construction of
this Act; providing that certain portions of this Act are contingent on the
occurrence of certain events; providing for the application of this Act; making
the provisions of this Act severable; making this Act an emergency measure;
providing for the effective dates of portions of this Act; and generally relating to
the Public Service Commission, the Office of People's Counsel, electric utility
industry restructuring and standard offer service, and public service companies,
mergers, acquisitions, and financial structures.
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