§ 23-18-904 — Exceptions to commission jurisdiction

(a) If the Arkansas Public Service Commission issues a financing order to a utility pursuant to this section, the commission shall not: (1) Consider the storm recovery bonds issued pursuant to the financing order to be the debt of the utility other than for federal and state income tax purposes; (2) Consider the storm recovery charges paid under the financing order to be the revenue of the utility for any purpose; (3) Consider the storm recovery costs or financing costs specified in the financing order to be the costs of the utility; or (4) Determine any action taken by a utility which is consistent with the financing order to be unjust or unreasonable. (b) The commission shall not: (1) Order or otherwise directly or indirectly require a utility to use storm recovery bonds to finance any project, addition, plant, facility, extension, capital improvement, equipment, or any other expenditure; (2) Refuse to allow a utility to recover costs for storm recovery activities in an otherwise permissible and reasonable fashion; or (3) Refuse or condition authorization or approval of the issuance and sale by a utility of securities or the assumption by it of liabilities or obligations, solely because of the potential availability of storm recovery financing.

Legislative History

Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021. Acts 2009, No. 729, § 1.