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A10061 Summary:

BILL NOA10061
 
SAME ASNo Same As
 
SPONSORPaulin (MS)
 
COSPNSRDinowitz, Cook, Otis, Seawright, Mayer, Crouch, Errigo
 
MLTSPNSRGlick
 
Add Art 12 §§250 & 251, Pub Serv L
 
Creates standards by which the public service commission reviews and approves a merger or acquisition between telephone corporations, cable corporations and combination telephone and cable corporations.
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A10061 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A10061
 
SPONSOR: Paulin (MS)
  TITLE OF BILL: An act to amend the public service law, in relation to creating standards by which the public service commission reviews and approves a merger or acquisition between telephone corporations, cable corporations, and combination telephone and cable corporations   PURPOSE OR GENERAL IDEA OF BILL: This bill would require closer scrutiny of proposed telecommunications industry transfers of control, and declares that except where the public interest requires a contrary result, a portion of the benefits of such mergers should be returned to the state's ratepayers.   SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill amends the public service law by adding a new Article 12 entitled "Provisions relating to telephone corporations, cable corporations, and combination telephone and cable corporations." Section 250 of the article contains definitions. Section 251 provides that no telephone corporation, cable corporation, or combination tele- phone and cable corporation that has gross annual revenues exceeding one million dollars shall assign, transfer control of, or merge its stock, franchise or system ,or any part of such system, to any other person or corporation without the written consent of the commission. The commis- sion shall not give such consent unless it has been shown by the parties that such assignment, transfer of control, merger, or contract is in the public interest. This section also sets standards that must be satisfied before the commission may give its consent. Furthermore, the commission shall issue a report detailing how it reached its decision within thirty days. Consent shall only be provided by the commission after a full evidentiary hearing. Section 2 provides the severability clause. Section 3 provides the effective date.   JUSTIFICATION: The public interest requires that the Public Service Commission's analy- sis of mergers and conclusions arise from objective and verifiable empirical evidence, rather than from unsupported statements of policy or observations. It is additionally in the public interest to require a portion of the benefits of telecommunications mergers to be returned to the state's ratepayers as refunds. reinvestment in the infrastructure providing E-911 services, or to finance repairs, maintenance or new construction that might otherwise be unfunded. Finally, requiring the Public Service Commission to conduct its analysis upon an enumerated list of public interest factors increases the participation of the public and other stakeholder groups in such proceedings, which enhances the transparency and accountability of the merger analysis process.   PRIOR LEGISLATIVE HISTORY: 2017:A.3801- Referred to ways and means. 2015-2016: A.1223-D-Ordered to third reading in both years. 2013-2014: A.6248- Referred to corporations. 2011-2012: A.6450- Referred to corporations. 2009-2010: A.2208-D - Referred to ways and means in 2009 and passed Assembly in 2010. Same as S.7263-C of 2010- Ordered to a third reading.   FISCAL IMPACT: None   EFFECTIVE DATE: This act shall take effect immediately after it shall have become law, and any rule or regulation necessary for the timely implementation of this act on its effective date shall be promulgated within 99 days of such date.
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