Michigan Compiled Laws
Act 3 of 1939 - Michigan Public Service Commission (460.1 - 460.11)
Section 460.10n - Securitization Bonds; State Pledge of Certain Conduct.

Sec. 10n.
(1) Securitization bonds are not a debt or obligation of the state and are not a charge on its full faith and credit or taxing power.
(2) The state pledges, for the benefit and protection of the financing parties and the electric utility, that it will not take or permit any action that would impair the value of securitization property, reduce or alter, except as allowed under section 10k(3), or impair the securitization charges to be imposed, collected, and remitted to financing parties, until the principal, interest and premium, and any other charges incurred and contracts to be performed in connection with the related securitization bonds have been paid and performed in full. Any party issuing securitization bonds is authorized to include this pledge in any documentation relating to those bonds.
History: Add. 2000, Act 142, Imd. Eff. June 5, 2000 Popular Name: Customer Choice and Electricity Reliability Act

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 460 - Public Utilities

Act 3 of 1939 - Michigan Public Service Commission (460.1 - 460.11)

Section 460.1 - Public Service Commission; Creation; Members, Appointment, Qualifications, Terms, Vacancies.

Section 460.2 - Public Service Commission; Oath, Chairman, Removal, Quorum, Seal, Offices.

Section 460.3 - Public Service Commission; Salary and Expenses of Members; Appointment of Secretary, Deputies, Clerks, Assistants, Inspectors, Heads of Divisions, and Employees; Payment of Salaries and Expenses; Employment and Compensation of Enginee...

Section 460.4 - Michigan Public Service Commission; Rights, Privileges, and Jurisdiction; Meaning of Certain References; Review of Order or Decree.

Section 460.4a - Effect of Executive Reorganization Orders; Funding; Commission as Autonomous Entity; Appointment of Chairperson; Transfers of Authority.

Section 460.5 - Public Service Commission; Books, Records, Files.

Section 460.5a - Annual Report.

Section 460.6 - Public Service Commission; Power and Jurisdiction; "Private, Investor-Owned Wastewater Utilities" Defined.

Section 460.6a - Gas, Electric, or Steam Utility; Commission Approval to Increase Rates and Charges or to Amend Rate or Rate Schedules; Petition or Application; Notice and Hearing; Partial and Immediate Relief; Issuance of Temporary Order; Refund; In...

Section 460.6b - Gas Utility Rates Based Upon Cost of Purchased Natural Gas; Authority of Commission; Acceptance of Employment With Utility by Member of Legislature.

Section 460.6c - Repealed. 2016, Act 341, Eff. Apr. 20, 2017.

Section 460.6d - Owner of Renewable Resource Power Production Facility; Exemption From Regulation and Control of Public Service Commission; Definition.

Section 460.6e - Repealed. 2016, Act 341, Eff. Apr. 20, 2017.

Section 460.6f - Repealed. 1984, Act 49, Imd. Eff. Apr. 12, 1984.

Section 460.6g - Definitions; Regulation of Rates, Terms, and Conditions of Attachments by Attaching Parties; Hearing; Authorization; Applicable Procedures.

Section 460.6h - Incorporation of Gas Cost Recovery Clause in Rate or Rate Schedule of Gas Utility; Definitions; Order and Hearing; Filing Gas Cost Recovery Plan and 5-Year Forecast; Gas Supply and Cost Review; Final or Temporary Order; Incorporating...

Section 460.6i - Initial Gas Cost Recovery Plan; Filing; Alteration of Rate Schedule in Accordance With Existing Purchased Gas Adjustment Clause; Charges in Excess of Base Rates; Revenues Subject to Existing Reconciliation Proceedings; Purchased Gas...

Section 460.6j - Definitions; Incorporation of Power Supply Cost Recovery Clause in Electric Rates or Rate Schedule of Electric Utility; Order and Hearing; Filing Power Supply Cost Recovery Plan and 5-Year Forecast; Power Supply and Cost Review; Fina...

Section 460.6k - Initial Power Supply Cost Recovery Plan; Filing; Alteration of Rate Schedule in Accordance With Adjustment Clause; Charges in Excess of Base Rate; Revenues Subject to Existing Reconciliation Proceedings; Revenues Resulting From Certa...

Section 460.6l - Insuring Equitable Representation of Interests of Energy Utility Customers; Definitions; Utility Consumer Participation Board; Creation; Powers and Duties; Number and Appointment of Members; “Utility” Defined; Member Requirements; Te...

Section 460.6m - Utility Consumer Representation Fund; Creation as Special Fund; Investment and Release of Money; Remittance by Energy Utility; Factor; Action for Recovery of Disputed Amount; Action on Application for Energy Cost Recovery Proceedings...

Section 460.6n - Restructuring of Residential Electric Rates; Hearings; Revenue Impact; Purpose and Basis of Restructured Rates; Penalizing Residential Customers Prohibited; Informing Public of Conservation Advantages; Contents of Customer's Bill; Co...

Section 460.6o - Definitions; Power Purchase Agreements for Purchase of Capacity and Energy From Resource Recovery Facilities; Rates, Charges, Terms, and Conditions of Service; Scrap Tire; Applicability of Section; Dispute Provisions; Filing Agreemen...

Section 460.6p - Rates Subject to Electric Transmission Line Certification Act.

Section 460.6q - Acquisition, Control, or Merger With Jurisdictional Regulated Utility; Approval of Commission; Notice and Hearing; Issuance of Order; Rules; Filing Comments; Access to Data and Information; Evaluation Factors; Terms and Conditions; C...

Section 460.6r - Definitions; Steam Supply Cost Recovery Clause; Filing Steam Supply Cost Recovery Plan and 3-Year Forecast; Requirements; Steam Supply and Cost Review; Temporary or Final Order; Filing Detailed Statement; Commencement of Steam Supply...

Section 460.6s - Electric Generation Facility; Application; Review Criteria and Approval Standards; Order Granting or Denying Certificate of Necessity; Hearing; Reports; Inclusion of Costs in Utility's Retail Rates; Refunds; Interest; Modifying or Ca...

Section 460.6t - Integrated Resource Plan.

Section 460.6u - Study; Review of Performance-Based Regulation Systems; Report; Authority of Commission.

Section 460.6v - Proceeding to Reevaluate Procedures and Rates Schedules; Report; Definitions.

Section 460.6w - Resource Adequacy Tariff That Provides for Capacity Forward Auction; Option for State to Implement Prevailing State Compensation Mechanism for Capacity; Order to Implement Prevailing State Compensation Mechanism; Contested Case Proce...

Section 460.6x - Shared Saving Mechanism.

Section 460.6z - Discontinuing Utility Service to Geographic Area; Abandonment Application; Proposal to Retire Electric Generating Plant; Proposal to Revise Existing Load Balancing Authority.

Section 460.7 - Railroad Labor Unions; Representatives; Right to Participate in Hearings.

Section 460.8 - Voluntary Associations; Hearings; Persons Entitled to Appear; Industrial Representative.

Section 460.9 - Definitions; Customer Switched to Alternative Gas Supplier or Natural Gas Utility; Prohibitions; Standards; Rules; Violation; Remedies and Penalties.

Section 460.9b - Alternative Gas Suppliers; Licensing Procedure; Maintenance of Office; Capabilities; Records; Tax Remittance.

Section 460.9c - Customer on Active Duty in Military; Shut-Off Protection.

Section 460.9d - Unauthorized Use of Electric or Natural Gas Service Causing Unsafe Connection; Action to Be Taken by Utility; Reestablishment of Service; Abandonment or Surrender of Property; Scope of Section; Definitions.

Section 460.9m - Service Shutoff Resulting in Death or Serious Injury; Notice to Commission; Investigation; Civil Action; "Provider" Defined.

Section 460.9o - Identification of Senior Citizen Customers; Methods; Compliance Within Certain Time Period; Extension; Definitions.

Section 460.9p - Failure of Utility to Meet Requirements of Act; Commencement of Civil Action; Notice; Compliance Agreement; Final Order; Costs of Litigation; Fines; Construction and Limitation of Act.

Section 460.9q - Shut Off or Termination of Service; Conditions; Reasons; Notice Requirements; Prohibitions; Attempts to Contact Customer; Documentation; Restoration of Service; Vulnerable Household Warmth Fund; Creation; Use of Funds; Payments; Dist...

Section 460.9r - Shut Off of Service by Municipally Owned Electric Utility; Prohibitions; Requirements; Definitions.

Section 460.9s - Postponement of Service Shutoff; Conditions; Definitions.

Section 460.9t - Low-Income Energy Assistance Fund.

Section 460.10 - MCL 460.10a to 460.10bb; Purpose.

Section 460.10a - Alternative Electric Suppliers; Orders Establishing Rates, Terms, and Conditions of Service; Licensing Procedure; Switching or Billing for Services Without Consent; Self-Service Power; Affiliate Wheeling; Rights of Parties to Existi...

Section 460.10b - Rates, Terms, and Conditions of New Technologies; Application to Unbundle Existing Rate Schedules; Providing Reliable and Lower Cost Competitive Rates; Standby Generation Service; Identification of Retail Market Prices.

Section 460.10c - Determination of Noncompliance; Order of Remedies and Penalties; Contested Case; Violation as Unintentional and Bona Fide Error; Finding of Frivolous Complaint.

Section 460.10d - Electric Utility Serving Less Than 1,000,000 Retail Customers; Utility Issuing Securitization Bonds; Compliance With Federal Rules, Regulations, and Standards; Security Recovery Factor; Protective Orders; Low-Income and Energy Effic...

Section 460.10e - Connection of Merchant Plants to Transmission and Distribution Systems; Finding of Prevention or Delay; Remedies; Merchant Plant; Standards; Exception.

Section 460.10f - Generation Capacity in Excess of Utility's Retail Sales Load; Determination of Total Generating Capacity; Market Power Mitigation Plan; Application; Approval; Requirements of Independent Brokering Trustee.

Section 460.10g - Definitions; School Properties.

Section 460.10h - Definitions.

Section 460.10i - Financing Order; Recovery of Qualified Costs; Conditions; Amount; Limitation on Period for Recovery of Securitization Charges; Financing Order as Effective and Irrevocable; Evidence of Indebtedness; Time Period to Issue or Reject; R...

Section 460.10j - Securitization Property; Rights and Interests.

Section 460.10k - Financing Order; Effect in Connection With Bankruptcy.

Section 460.10l - Agreement to Transfer Securitization Property as True Sale.

Section 460.10m - Lien and Security Interest; Creation; Changes in Order or Charges Attachment; Perfection; Priority; Sequestration and Payment of Revenues.

Section 460.10n - Securitization Bonds; State Pledge of Certain Conduct.

Section 460.10o - Securitization Bond; Direct Interest in Acquisition, Ownership, and Disposition Not Used in Determining Tax; Obligations of Electric Utility Successor; Assignee or Financing Party as Public Utility.

Section 460.10p - Establishment of Industry Worker Transition Program; Adoption of Service Quality and Reliability Standards; Compliance Report; Rules; Benchmarks; Method for Gathering Data; Incentives and Penalties; "Jurisdictional Utility" or "Juri...

Section 460.10q - Alternative Electric Supplier; License Requirements.

Section 460.10r - Dissemination of Disclosures, Explanations, or Sales Information; Standards; Establishment of Michigan Renewables Energy Program; Plan.

Section 460.10s - Low-Income and Energy Assistance Programs; Availability of Federal Funds.

Section 460.10t - Shut Off of Service; Conditions; Procedures; Definitions.

Section 460.10u - Report.

Section 460.10v - Joint Plan to Expand Available Transmission Capability.

Section 460.10w - Investor-Owned Electric Utility; Ferc Approval.

Section 460.10x - Cooperative Electric Utility; Requirements.

Section 460.10y - Municipally Owned Utility; Requirements.

Section 460.10z - Provisions of Act as Severable.

Section 460.10aa - Impairment of Contractual Rights Under Existing Contract.

Section 460.10bb - Aggregation; Use; Definition.

Section 460.10cc - Provisions as Severable; Certain Rate Reductions as Void.

Section 460.10dd - Appropriation; Hiring Full-Time Positions to Implement Act.

Section 460.10ee - Code of Conduct; Value-Added Programs and Services; Definitions.

Section 460.10ff - Energy Ombudsman.

Section 460.10gg - Long-Term Industrial Load Rate; Findings of Commission.

Section 460.10hh - Nuclear Energy Generation Feasibility Study.

Section 460.11 - Establishment of Electric Rates; Establishment of Eligible Low-Income Customer or Senior Citizen Customer Rates; Public and Private Schools, Universities, and Community Colleges Rate Schedules.