Electrical cooperatives and gas cooperative.

Under existing law, the Public Utilities Commission has regulatory authority over public utilities. Existing law provides that the commission has no authority to establish rates or regulate the borrowing of money, the issuance of evidences of indebtedness, or the sale, lease, assignment, mortgage, or other disposal or encumbrance of the property of any electrical cooperative, as defined, but that electrical cooperatives are otherwise subject to the regulatory authority of the commission pursuant to the Public Utilities Act. This bill would provide that the commission has no authority to establish rates or regulate the borrowing of money, the issuance of evidences of indebtedness, or the sale, lease, assignment, mortgage, or other disposal or encumbrance of the property of any gas cooperative, as defined, but that gas cooperatives are otherwise subject to the regulatory authority of the commission pursuant to the Public Utilities Act. The bill would revise the definition of an electrical cooperative.