California AB420 amends Public Utilities Code to regulate public utility property transactions.

California AB420 amends Section 851 of the Public Utilities Code to prohibit public utilities from selling, leasing, assigning, mortgaging, or otherwise disposing of property necessary for public service without commission approval. Exceptions include property not necessary for public service and equipment interchange between common carriers. The Public Utilities Commission determines transaction types qualifying for advice letter handling. Transactions valued at $5 million or less can use an advice letter, while higher-value transactions require a commission order.

California AB420 amends Public Utilities Code to regulate public utility property transactions.

California AB420 amends Section 851 of the Public Utilities Code to prohibit public utilities from selling, leasing, assigning, mortgaging, or otherwise disposing of property necessary for public service without commission approval. Exceptions include property not necessary for public service and equipment interchange between common carriers. The Public Utilities Commission determines transaction types qualifying for advice letter handling. Transactions valued at $5 million or less can use an advice letter, while higher-value transactions require a commission order.