Assemblywoman Corbett will likely propose  amendments at Monday's Rev & Tax 
Cmte hearing on her AB 128x. Apparently,  the amendments will require that 
the PUC set a "fair price" for  electricity.? Any charges above that fair 
price?will be subject to the  proposed excess profits tax.
Also of interest is that the excess profits tax  would attempt to apply to 
out-of-state companies that sell energy into  California.? They are going to 
try to impute nexus to the out-of-state  generators by arguing that they are 
deriving economic benefit from selling into  California and that creates 
nexus.
Finally, it appears that the Suspense File will not  be invoked in this case 
because that policy only applies to Regular Session  bills. Obviously, AB 
128x is a Special Session bill.
?

Chris Micheli, Esq.
Carpenter Snodgrass  & Associates
1201 K Street, Suite 710
Sacramento, CA?  95814
(916) 447-2251
FAX: (916) 445-5624
EMAIL: cmicheli@carpentersnodgrass.com