Senate Bill No. 736

(By Senators Craigo, Sharpe, Jackson, Prezioso, Plymale, Love, Helmick, Anderson, Edgell, Unger, McCabe, Boley and Minear)

____________

[Originating in the Committee on Finance;


reported February 28, 2002.]

_____________



A BILL to amend article seven, chapter twenty-four of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding a new section, designated section four, relating generally to the powers of the public service commission; setting forth legislative findings; authorizing the public service commission to acquire certain properties in its own name; authorizing the public service commission to enter into agreements with other entities concerning the financing and use of the acquisitions; and authorizing the public service commission to use excess moneys from its special revenue funds to pay for the acquisitions.

Be it enacted by the Legislature of West Virginia:
That article seven, chapter twenty-four of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section four, to read as follows:
ARTICLE 7. HEADQUARTERS.
§24-7-4. Legislative findings; authority to acquire further properties.

(a) The Legislature hereby finds that the public service commission should be authorized to acquire and manage further properties contiguous with its existing property at 201 Brooks street in Charleston, West Virginia, and to make improvements on the property necessary to ensure the efficient operations of the commission's business. Furthermore, the Legislature finds that the public service commission should be given the necessary authority to enter into agreements with other entities concerning financing and use of the acquisitions. The Legislature further finds that the commission should be allowed to pay for the acquisitions using excess funds from the special revenues received by the commission pursuant to section six, article three of this chapter and from funds received by the use of the properties.
(b) The public service commission may contract to acquire, lease, rent, purchase, own, hold, construct, equip, maintain, operate, sell, encumber and assign rights of any property, real or personal, contiguous with its existing property at 201 Brooks street in Charleston, West Virginia, consistent with the objectives of the commission as set forth in this chapter.
(c) The public service commission may enter into contracts, agreements or other undertakings with other appropriate entities concerning the financing and use of property acquisitions.
(d) The public service commission may pay for property acquisitions and related activities from excess funds obtained from the commission's assessments upon utility gross revenue and property as provided for in section six, article three of this chapter. Furthermore, the commission may receive funds from other entities through the use and management of its properties and use those funds for the payment of the property acquisitions.



NOTE: The purpose of this bill is to amend the statute to allow the public service commission to acquire and pay for property acquisitions necessary to conduct its business.

This section is new; therefore, strike-throughs and underscoring have been omitted.