senate Bill S2572

2013-2014 Legislative Session

Prohibits the ownership of electric corporations by any foreign based person, corporation or entity

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to energy and telecommunications
Jan 22, 2013 referred to energy and telecommunications

Co-Sponsors

S2572 - Details

Current Committee:
Law Section:
Public Service Law
Laws Affected:
Amd ยง68, Pub Serv L
Versions Introduced in 2011-2012 Legislative Session:
S5304A

S2572 - Summary

Prohibits the ownership of electric corporations by any foreign based person, corporation or entity.

S2572 - Sponsor Memo

S2572 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2572

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 22, 2013
                               ___________

Introduced  by  Sen.  BALL  --  read twice and ordered printed, and when
  printed to be committed to the Committee on  Energy  and  Telecommuni-
  cations

AN  ACT  to amend the public service law, in relation to prohibiting the
  ownership of an electric corporation  by  any  foreign  based  person,
  corporation or entity

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The opening paragraph of section 68 of the  public  service
law is designated subdivision 1 and a new subdivision 2 is added to read
as follows:
  2.  (A) THE COMMISSION SHALL NOT GRANT ITS PERMISSION OR APPROVAL, FOR
THE GENERATION AND DISTRIBUTION OF ELECTRICITY TO RESIDENTIAL CUSTOMERS,
TO ANY ELECTRIC CORPORATION THAT IS A FOREIGN BASED PERSON,  CORPORATION
OR  ENTITY,  OR THE MAJORITY OF WHICH IS OWNED BY FOREIGN BASED PERSONS,
CORPORATIONS AND/OR ENTITIES. IN THE EVENT THAT AN ELECTRIC CORPORATION,
HOLDING A FRANCHISE ISSUED PURSUANT TO THIS ARTICLE, BECOMES  A  FOREIGN
BASED  PERSON,  CORPORATION  OR  ENTITY,  OR  BECOMES  MAJORITY OWNED BY
FOREIGN BASED PERSONS,  CORPORATIONS  AND/OR  ENTITIES,  SUCH  FRANCHISE
SHALL IMMEDIATELY BE REVOKED BY THE COMMISSIONER.
  (B)  FOR  THE  PURPOSES  OF  THIS  SUBDIVISION, "FOREIGN BASED PERSON,
CORPORATION OR ENTITY" SHALL MEAN:
  (1) ANY NATURAL PERSON WHO IS NOT A CITIZEN OF THE UNITED STATES; OR
  (2) ANY CORPORATION OR ENTITY THAT:
  (I) IS NOT HEADQUARTERED IN THE UNITED STATES,
  (II) IS NOT CHARTERED BY THE UNITED STATES OR  BY  ANY  STATE  IN  THE
UNITED STATES, OR
  (III)  HAS MORE THAN FIFTY PERCENT OF ITS OWNERSHIP INTERESTS OWNED OR
HELD BY:
  (A) A PERSON OR PERSONS WHO ARE NOT CITIZENS OF THE UNITED STATES, OR
  (B) CORPORATIONS AND/OR ENTITIES THAT ARE:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07280-01-3

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