BILL NUMBER: SB 118	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  JUNE 19, 2003
	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 who
voluntarily acquires a financial interest  , as defined,  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.  
   (c) For purposes of this section, "financial interest" includes
those interests enumerated in subdivisions (a) through (e),
inclusive, of Section 87103 of the Government Code.