HOUSE BILL No. 5457


     November 28, 2001, Introduced by Rep. Bradstreet and referred to the Committee on Energy and Technology.


        A bill to amend 1976 PA 448, entitled

   "Michigan energy employment act of 1976,"

   by amending section 5 (MCL 460.805).

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           Sec. 5.  (1) "Project" means a system or facility for the

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      generation, transmission, or transformation  , or a combination

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      thereof,  of  electric power and energy carried out 
   ELECTRICITY

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      by a municipal electric utility system by any means.  , including

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      but not limited to, any 1 or more electric generating units.

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      PROJECT ALSO MEANS STOCK, MEMBERSHIP UNITS, OR ANY OTHER INTEREST

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      IN A MULTISTATE REGIONAL TRANSMISSION SYSTEM ORGANIZATION

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      APPROVED BY THE FEDERAL GOVERNMENT AND OPERATING IN THIS STATE OR

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      A TRANSMISSION-OWNING ENTITY WHICH IS A MEMBER OF A MULTISTATE

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      REGIONAL TRANSMISSION SYSTEM ORGANIZATION APPROVED BY THE FEDERAL

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      GOVERNMENT AND OPERATING IN THIS STATE.


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           (2) "Project cost"  means  INCLUDES, but is not limited to,

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      the cost of acquisition, construction,  reconstruction,  improve-

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      ment,  enlargement, betterment,  or extension of a project,

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       including  the cost of studies, plans, specifications, surveys,

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      and estimates of RELATED costs and revenues,  relating thereto;

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      the cost of land, land rights, rights of way, easements, water

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      rights, fees, permits, approvals, licenses, certificates, fran-

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      chises, and the preparation of ANY REQUIRED applications,  for

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      securing the same;  engineering and inspection expenses,  ;

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      financing  fees, expenses, and  costs,  ;  working capital,
    ;

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      fuel costs,  ;  interest on bonds,  ;  establishment of
   reserves,

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      and all other  expenditures of the issuing  COSTS OF THE munici-

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      pality or joint agency  which  THAT are incidental, necessary, or

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      convenient to the acquisition, construction,  reconstruction,

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      improvement,  enlargement, betterment,  or extension of a

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      project.  and the placing of the project in operation.

























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