Bill > SB256

This bill amends Georgia law to enhance transparency requirements for electric membership corporations (EMCs) that invest in or create gas affiliates. Specifically, if an EMC invests more than 15% of its net utility plant in a gas affiliate, it must disclose detailed information to its members within six months of any such transaction. The required disclosures include a description of assets acquired, transaction date, identification of assets pledged as loan security, total assets and debts of both the EMC and its gas affiliate, the EMC's electric generation and transmission assets, and the percentage of net utility plant used for gas-related investments. The bill additionally mandates that EMCs with significant gas affiliate investments must provide an annual disclosure of aggregate gas sales costs to their members. The legislation aims to provide EMC members with more comprehensive financial information about their organization's investments and activities in the gas sector, ensuring greater transparency about potential financial risks and commitments.

Business and Industry, Transportation and Infrastructure

https://www.legis.ga.gov/legislation/70789