Session of 1999
By Committee on Utilities

  9             AN  ACT concerning public utilities; requiring certain conditions for ap-
10             proval of certain mergers by the state corporation commission.
12       Be it enacted by the Legislature of the State of Kansas:
13             Section  1. (a) As used in this section:
14             (1) "Acquisition premium" means the amount by which the amount
15       paid to acquire a public utility exceeds the book value of the utility.
16             (2) "Commission" means the state corporation commission.
17             (3) "Public utility" means a public utility, as defined by K.S.A. 66-
18       104 and amendments thereto, the rates of which are subject to regulation
19       by the commission.
20             (b) The commission shall not approve the merger of two or more
21       public utilities if any part of the acquisition premium paid in the merger
22       will be included in the ratebases, expenses or rates of return of the
23       merged utilities.
24             (c) The provisions of this section shall apply to any merger for which
25       an application for approval by the commission is pending before the com-
26       mission on the effective date of this act or is filed with the commission
27       on or after the effective date of this act.
28        Sec.  2. This act shall take effect and be in force from and after its
29       publication in the Kansas register.