Allocation of Property Tax Refunds

NY-ADR

8/2/17 N.Y. St. Reg. PSC-36-16-00005-A
NEW YORK STATE REGISTER
VOLUME XXXIX, ISSUE 31
August 02, 2017
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
NOTICE OF ADOPTION
 
I.D No. PSC-36-16-00005-A
Filing Date. Jul. 13, 2017
Effective Date. Jul. 13, 2017
Allocation of Property Tax Refunds
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
On 7/13/17, the PSC adopted an order approving the terms of a joint proposal executed by New York American Water Company, Inc. (NYAW) and the Department of Public Service (DPS) Staff and denied NYAW's petition for the proposed allocation of tax refunds.
Statutory authority:
Public Service Law, section 113(2)
Subject:
Allocation of property tax refunds.
Purpose:
To adopt the terms of a joint proposal between NYAW and DPS Staff and deny NYAW's petition.
Substance of final rule:
The Commission, on July 13, 2017, adopted an order approving the terms of a joint proposal executed by New York American Water Company, Inc. (NYAW) and the Department of Public Service (DPS) Staff and denied NYAW's petition seeking approval of a proposed allocation of tax refunds. NYAW shall pass back to customers (a) $672,617, representing 88 percent of the total net refund remaining after deduction of $219,721 in legal and other expenses, as shown in Attachment A of the Joint Proposal; (b) $7,564 in interest accrued on the above $672,617 through January 31, 2017; and (c) interest accrued on items (a) and (b) above, calculated using the Other Customer Provided Capital Rate, until those items have been refunded to customers, subject to the terms and conditions set forth in the order.
Final rule as compared with last published rule:
No changes.
Text of rule may be obtained from:
John Pitucci, Public Service Commission, Three Empire State Plaza, Albany, New York 12223, (518) 486-2655, email: [email protected] An IRS employer ID no. or social security no. is required from firms or persons to be billed 25 cents per page. Please use tracking number found on last line of notice in requests.
Assessment of Public Comment
An assessment of public comment is not submitted with this notice because the rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(16-W-0384SA1)
End of Document