Property Tax Refunds Received by the Long Island Water Company
NY-ADR
1/17/07 N.Y. St. Reg. PSC-03-07-00011-P
NEW YORK STATE REGISTER
VOLUME XXIX, ISSUE 3
January 17, 2007
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
HEARING(S) SCHEDULED
I.D No. PSC-03-07-00011-P
Property Tax Refunds Received by the Long Island Water Company
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed action:
In Case 06-W-0069, concerning a petition of Long Island Water Corporation providing notification of the receipt of property tax refunds of $7,386,087.89 from Nassau County, the Public Service Commission is considering and may adopt a joint proposal provided by the water company and Department of Public Service staff.
Statutory authority:
Public Service Law, section 113(2)
Subject:
Property tax refunds received by the Long Island Water Company.
Purpose:
To determine the portion of the property tax refunds to be distributed to customers and the portion of the refunds to be retained by shareholders.
Public hearing(s) will be held at:
1:00 p.m., Feb. 5, 2007 at Public Service Commission, Three Empire State Plaza, 3rd Fl., (Alternative Dispute Resolution Room), Albany, NY.
Accessibility:
All public hearings have been scheduled at places reasonably accessible to persons with a mobility impairment.
Interpreter Service:
Interpreter services will be made available to deaf persons, at no charge, upon written request submitted within reasonable time prior to the scheduled public hearing. The written request must be addressed to the agency representative designated in the paragraph below.
Substance of proposed rule:
In November 2005, the Long Island Water Company (the Company) received approximately $7.4 million in property tax refunds from Nassau County. The Company notified the Public Service Commission (Commission) of the property tax refunds and, in 2006, the Department of Public Service (DPS) Staff audited the Company's books and records of the tax refunds. In December 2006, the DPS Staff entered into a joint proposal with the Company that has been submitted to the Commission for consideration and action. The proposal, if adopted by the Commission, would allow the Company to retain 15% of the net tax refund and would provide 85% of the refund to customers. The customers' portion of the refund would either be applied as a credit and a reduction to the customers' water bills or be used to pay amounts that the Company could otherwise collect from customers. The Commission may accept, reject or modify the joint proposal when it acts in this proceeding.
Text of proposed rule may be obtained from:
Elaine Lynch, Public Service Commission, Bldg. 3, Empire State Plaza, Albany, NY 12223-1350, (518) 486-2660
Data, views or argument may be submitted to:
Jaclyn A. Brilling, Secretary, Public Service Commission, Bldg. 3, Empire State Plaza, Albany, NY 12223-1350, (518) 474-6530
Public comment will be received until:
Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(06-W-0069SA2)
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