Disposition of a Federal Income Tax Refund
NY-ADR
9/9/09 N.Y. St. Reg. PSC-36-09-00010-P
NEW YORK STATE REGISTER
VOLUME XXXI, ISSUE 36
September 09, 2009
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
HEARING(S) SCHEDULED
I.D No. PSC-36-09-00010-P
Disposition of a Federal Income Tax Refund
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
The Public Service Commission is considering whether to approve or reject, in whole or in part, a petition filed by Niagara Mohawk Power Corporation d/b/a National Grid to retain $4.66 million of a $25.6 million federal income tax refund.
Statutory authority:
Public Service Law, section 113(2)
Subject:
Disposition of a federal income tax refund.
Purpose:
To determine how much of a federal income tax refund should be retrained by National Grid.
Public hearing(s) will be held at:
10:30 a.m., Dec. 10, 2009 at Three Empire State Plaza, 3rd Fl. Hearing Rm., Albany, NY.*
*There could be requests to reschedule the hearings. Notification of any subsequent scheduling changes will be available at the DPS Website (www.dps.state.ny.us) under Case No. 09-M-0554SP1.
Interpreter Service:
Interpreter services will be made available to hearing impaired 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.
Accessibility:
All public hearings have been scheduled at places reasonably accessible to persons with a mobility impairment.
Substance of proposed rule:
Niagara Mohawk Power Corporation d/b/a National Grid filed a petition proposing the disposition of a portion of a federal income tax refund allocable to its regulated New York electric and gas operations. The total tax refund of approximately $25.6 million, inclusive of interest, was the result of IRS adjustments and IRS Appeals Office settlement adjustments related to the period of 1991 to 1995. National Grid has requested permission to retain a portion of the tax refund (net of deferred taxes) of approximately $4.66 million. The Public Service Commission may approve or reject, in whole or in part, National Grid's request.
Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.state.ny.us/f96dir.htm. For questions, contact:
Leann Ayer, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: [email protected]
Data, views or arguments may be submitted to:
Jaclyn A. Brilling, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: [email protected]
Public comment will be received until:
45 days after publication of this notice.
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.
(09-M-0554SP1)
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