42 U.S.C. § 16452 — Federal access to books and records

Page 8902 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 16452 XII of Pub. L. 109–58, Aug. 8, 2005, 119 Stat. 972, which enacted this part, amended sections 824 and 824m of Title 16, Conservation, repealed chapter 2C (§ 79 et seq.) of Title 15, Commerce and Trade, and section 825q of Title 16, and enacted provisions set out as notes under this section and section 15801 of this title. For complete classification of subtitle F to the Code, see Short Title note set out under section 15801 of this title and Tables. For the effective date of this part, referred to in par. (6), see Effective Date note set out below. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Pub. L. 109–58, title XII, § 1274, Aug. 8, 2005, 119 Stat. 977, provided that: ‘‘(a) IN GENERAL.—Except for section 1272 [42 U.S.C. 16460] (relating to implementation), this subtitle [sub- title F (§§ 1261 to 1277) of title XII of Pub. L. 109–58, en- acting this part, amending sections 824 and 824m of Title 16, Conservation, repealing chapter 2C (§ 79 et seq.) of Title 15, Commerce and Trade, and section 825q of Title 16, and enacting provisions set out as a note under section 15801 of this title] shall take effect 6 months after the date of enactment of this subtitle [Aug. 8, 2005]. ‘‘(b) COMPLIANCE WITH CERTAIN RULES.—If the [Fed- eral Energy Regulatory] Commission approves and makes effective any final rulemaking modifying the standards of conduct governing entities that own, oper- ate, or control facilities for transmission of electricity in interstate commerce or transportation of natural gas in interstate commerce prior to the effective date of this subtitle, any action taken by a public-utility company or utility holding company to comply with the requirements of such rulemaking shall not subject such public-utility company or utility holding com- pany to any regulatory requirement applicable to a holding company under the Public Utility Holding Company Act of 1935 (15 U.S.C. 79 et seq.).’’ SHORT TITLE For short title of subtitle F of title XII of Pub. L. 109–58, which enacted this part, as the ‘‘Public Utility Holding Company Act of 2005’’, see section 1261 of Pub. L. 109–58, set out as a note under section 15801 of this title. § 16452. Federal access to books and records (a) In general Each holding company and each associate company thereof shall maintain, and shall make available to the Commission, such books, ac- counts, memoranda, and other records as the Commission determines are relevant to costs in- curred by a public utility or natural gas com- pany that is an associate company of such hold- ing company and necessary or appropriate for the protection of utility customers with respect to jurisdictional rates. (b) Affiliate companies Each affiliate of a holding company or of any subsidiary company of a holding company shall maintain, and shall make available to the Com- mission, such books, accounts, memoranda, and other records with respect to any transaction with another affiliate, as the Commission deter- mines are relevant to costs incurred by a public utility or natural gas company that is an asso- ciate company of such holding company and necessary or appropriate for the protection of utility customers with respect to jurisdictional rates. (c) Holding company systems The Commission may examine the books, ac- counts, memoranda, and other records of any company in a holding company system, or any affiliate thereof, as the Commission determines are relevant to costs incurred by a public utility or natural gas company within such holding company system and necessary or appropriate for the protection of utility customers with re- spect to jurisdictional rates. (d) Confidentiality No member, officer, or employee of the Com- mission shall divulge any fact or information that may come to his or her knowledge during the course of examination of books, accounts, memoranda, or other records as provided in this section, except as may be directed by the Com- mission or by a court of competent jurisdiction. (Pub. L. 109–58, title XII, § 1264, Aug. 8, 2005, 119 Stat. 974.) § 16453. State access to books and records (a) In general Upon the written request of a State commis- sion having jurisdiction to regulate a public- utility company in a holding company system, the holding company or any associate company or affiliate thereof, other than such public-util- ity company, wherever located, shall produce for inspection books, accounts, memoranda, and other records that— (1) have been identified in reasonable detail in a proceeding before the State commission; (2) the State commission determines are rel- evant to costs incurred by such public-utility company; and (3) are necessary for the effective discharge of the responsibilities of the State commission with respect to such proceeding. (b) Limitation Subsection (a) does not apply to any person that is a holding company solely by reason of ownership of one or more qualifying facilities under the Public Utility Regulatory Policies Act of 1978 (16 U.S.C. 2601 et seq.). (c) Confidentiality of information The production of books, accounts, memo- randa, and other records under subsection (a) shall be subject to such terms and conditions as may be necessary and appropriate to safeguard against unwarranted disclosure to the public of any trade secrets or sensitive commercial infor- mation. (d) Effect on State law Nothing in this section shall preempt applica- ble State law concerning the provision of books, accounts, memoranda, and other records, or in any way limit the rights of any State to obtain books, accounts, memoranda, and other records under any other Federal law, contract, or other- wise. (e) Court jurisdiction Any United States district court located in the State in which the State commission re- ferred to in subsection (a) is located shall have jurisdiction to enforce compliance with this sec- tion. (Pub. L. 109–58, title XII, § 1265, Aug. 8, 2005, 119 Stat. 975.)