BILL NUMBER: SB 118	AMENDED
	BILL TEXT

	AMENDED IN SENATE  MAY 7, 2003
	AMENDED IN SENATE  APRIL 21, 2003

INTRODUCED BY   Senator Bowen

                        FEBRUARY 3, 2003

   An act to amend Section 303 of the Public Utilities Code, relating
to the Public Utilities Commission.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 118, as amended, Bowen.  Public Utilities Commission:  conflict
of interest.
   Under existing law, no person may be appointed to or hold the
office of public utilities commissioner who also is employed by,
holds any official relation with, owns stocks or bonds of, or is in
any manner pecuniarily interested in, any corporation or person that
is subject to regulation by the commission.  Existing law requires
the commission to adopt an updated Conflict of Interest Code and
Statement of Incompatible Activities, by February 28, 1998, in a
manner consistent with applicable law.
   This bill would provide that the office of any commissioner
 that   who  voluntarily acquires a
financial interest in a corporation or person  that the
commissioner knows or should know is  subject to regulation by
the commission  ,  will immediately become vacant, and would
require the commission to adopt an updated Conflict of Interest Code
and Statement of Incompatible Activities, by February 28, 2004, in a
manner consistent with applicable law.
   Vote:  majority.  Appropriation:  no.  Fiscal committee:  yes.
State-mandated local program:  no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:


  SECTION 1.  Section 303 of the Public Utilities Code is amended to
read:
   303.  (a) A public utilities commissioner may not hold an official
relation to  ,  nor have a financial interest in  ,
 a person or corporation subject to regulation by the
commission.  If any commissioner voluntarily acquires a financial
interest in a corporation or person  that the commissioner knows
or should know is  subject to regulation by the commission, his
or her office shall immediately become vacant.  If any commissioner
acquires a financial interest in a corporation or person subject to
regulation by the commission other than voluntarily, his or her
office shall become vacant unless within a reasonable time he or she
divests himself or herself of the interest.
   (b) The commission shall adopt an updated Conflict of Interest
Code and Statement of Incompatible Activities, by February 28,  2004,
in a manner consistent with applicable law.