Section 1 Short title
This Act may be cited as the “Parity Across Reviews Act ” or the “PARs Act”.
Parity Across Reviews Act
A BILL
To amend section 203 of the Federal Power Act.
Sec. 2 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. 3 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).
“(B) In establishing any notification requirement under subparagraph (A), the Commission shall, to the maximum extent practicable, minimize the paperwork burden resulting from the collection of information.”
Sec. 4 Effective date
The amendment made by section 2 shall take effect 180 days after the date of enactment of this Act.