Utility property.

Under existing law, the Public Utilities Commission has regulatory authority over public utilities and can establish its own procedures, subject to statutory limitations or directions and constitutional requirements of due process. The existing Public Utilities Act prohibits, with certain exemptions, any public utility other than a common carrier by railroad, from selling, leasing, assigning, mortgaging, or otherwise disposing of or encumbering the whole or any part of specified property necessary or useful in the performance of the public utility's duties to the public, without first having either secured an order from the commission authorizing it to do so for qualified transactions valued above $5,000,000, or for qualified transactions valued at $5,000,000 or less, having filed an advice letter and obtained a resolution from the commission authorizing it to do so. Existing law requires the commission to determine the types of transactions valued at $5,000,000 or less that qualify for advice letter handling. Existing law states the intent of the Legislature that transactions with monetary values that materially impact a public utility's rate base, or transactions that would trigger the commission's review responsibilities under the California Environmental Quality Act, should not qualify for expedited advice letter review. This bill would delete the requirement, for qualified transactions valued at $5,000,000 or less, that the commission approve the advice letter by resolution. The bill would authorize the executive director of the commission or the director of the division of the commission having regulatory jurisdiction over the utility to approve the advice letter for qualified transactions valued at $5,000,000 or less for which an advice letter is filed that is uncontested. The bill would state the intent of the Legislature that transactions with monetary values that materially impact a public utility's rate base, or transactions that would trigger the commission's review responsibilities as lead agency under the California Environmental Quality Act, should not qualify for expedited advice letter review. The bill would authorize the filing of an advice letter for transactions by the public utility if the lead agency has completed the appropriate review under the California Environmental Quality Act for the transaction, and the commission is the responsible agency under the act and approves the advice letter by resolution voted upon by the commission.