PSC-23-13-00003-P Stock Acquisition

6/5/13 N.Y. St. Reg. PSC-23-13-00003-P

NEW YORK STATE REGISTER

VOLUME XXXV, ISSUE 23

June 05, 2013

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-23-13-00003-P

Stock Acquisition

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:

Proposed Action:

The Commission is considering the joint petition of Corning Natural Gas Corporation and the Anita G. Zucker Revocable Trust whereas the Anita G. Zucker Revocable Trust proposes to acquire more shares of Corning Natural Gas Corporation up to 15 percent.

Statutory authority:

Public Service Law, section 70

Subject:

Stock Acquisition.

Purpose:

To authorize the acquisition of the Anita G. Zucker Revocable Trust to buy shares of Corning's capital stock up to 15 percent.

Substance of proposed rule:

The Public Service Commission is considering whether to approve, deny, or modify, in whole or in part, a joint petition by Corning Natural Gas Corporation and the Anita G. Zucker Revocable Trust for the approval of the Anita G. Zucker Revocable Trust to increase its holdings in Corning from below 10 percent up to 15 percent.

Corning has major ongoing infrastructure investment obligations that are required under its current Rate Plan and depends on significant equity infusions by investors to supply some of the funding for such obligations.

Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.ny.gov/f96dir.htm. For questions, contact:

Deborah Swatling, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Jeffrey C. Cohen, Acting Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

Public comment will be received until:

45 days after publication of this notice.

Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement

Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.

(13-G-0202SP1)