HB 95 w/ SA 1 — Session Law

… USE BILL NO. 95 AS AMENDED BY SENATE AMENDMENT NO. 1 AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO ELECTRIC COOPERATIVE CAPITAL CREDITS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE: WHEREAS, electri …

… LECTRIC COOPERATIVE CAPITAL CREDITS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE: WHEREAS, electric cooperatives are owned by and managed for the benefit of their members; and WHEREAS, electric cooperatives allocate …

… DELAWARE: WHEREAS, electric cooperatives are owned by and managed for the benefit of their members; and WHEREAS, electric cooperatives allocate and return all net operating margins to their members in the form of capital credits; and WHE …

… llocate and return all net operating margins to their members in the form of capital credits; and WHEREAS, Delaware Electric Cooperative has returned more than $20 million in capital credits to its members since 2015, including approximately …

… EREAS, unclaimed capital credits are held for the benefit of the member to whom they have been allocated and Delaware Electric Cooperative is permitted after 5 years to use any unclaimed capital credits for low income energy assistance programs …

… aking deletions as shown by strike through and insertions as shown by underline as follows: § 909 Special duties of electric utility corporations organized as cooperatives. (b) A cooperative electric utility shall use all nonescheat capital …

… ine as follows: § 909 Special duties of electric utility corporations organized as cooperatives. (b) A cooperative electric utility shall use all nonescheat capital credits, net of claims pursuant to subsection (g) of this section, to fund t …

… grams in its service area. (3) Donations to such nonprofit charitable and community organizations. (d) Cooperative electric utilities shall submit a written report to the Division of Revenue publish an annual report to members of the retir …