Political Quotes

“Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 4427) to amend section 203 of the Federal Power Act, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 4427 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. CLARIFICATION OF FACILITY MERGER AUTHORIZATION. Section 203(a)(1)(B) of the Federal Power Act (16 U.S.C. 824b(a)(1)(B)) is amended by striking ``such facilities or any part thereof'' and inserting ``such facilities, or any part thereof, of a value in excess of $10,000,000''. SEC. 2. NOTIFICATION FOR CERTAIN TRANSACTIONS. Section 203(a) of the Federal Power Act (16 U.S.C. 824b(a)) is amended by adding at the end the following new paragraph: ``(7)(A) Not later than 180 days after the date of enactment of this paragraph, the Commission shall promulgate a rule requiring any public utility that is seeking to merge or consolidate, directly or indirectly, its facilities subject to the jurisdiction of the Commission, or any part thereof, with those of any other person, to notify the Commission of such transaction not later than 30 days after the date on which the transaction is consummated if-- ``(i) such facilities, or any part thereof, are of a value in excess of $1,000,000; and ``(ii) such public utility is not required to secure an order of the Commission under paragraph (1)(B).…”