California AB2589 amends the Public Utilities Code to require the commission to adjust rates for public utilities affected by changes in federal tax.

California AB2589 modifies Section 751 of the Public Utilities Code to mandate that the commission evaluate the impact of federal tax law changes on public utilities' expenses and tax liabilities. If the commission finds that these changes materially affect the utilities' projected expenses and tax liabilities, it must adjust the utilities' rates accordingly. The bill ensures the commission retains its discretionary authority to track changes, adjust rates, and allocate impacts over time based on each utility's specific circumstances.

California AB2589 amends the Public Utilities Code to require the commission to adjust rates for public utilities affected by changes in federal tax.

California AB2589 modifies Section 751 of the Public Utilities Code to mandate that the commission evaluate the impact of federal tax law changes on public utilities' expenses and tax liabilities. If the commission finds that these changes materially affect the utilities' projected expenses and tax liabilities, it must adjust the utilities' rates accordingly. The bill ensures the commission retains its discretionary authority to track changes, adjust rates, and allocate impacts over time based on each utility's specific circumstances.