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.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A3801
SPONSOR: Dinowitz 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:
This law would amend section 99 and section 100 of the public service
law.
JUSTIFICATION:
The public interest requires that the Public Service Commission's analy-
sis of mergers and conclusions drawn there from 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, mainte-
nance 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:
2015-2016: A.1223-D-Ordered to Third Reading Rules Cal. No. 329
A.6450 of 2011-2012 - In Corporations
A.2208d - 2009-2010 Passed Assembly.
A.9809 (2006, A.10043 (2007-2008)
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 90 days of
such date.
