AB 420: Public utilities: property, franchises, and permits: exemption.

This bill aims to amend the public utilities code to exempt certain easements and changes to easements from a prohibition on dispositions of assets necessary for public utility duties. The exemption applies if the transaction has a ratepayer financial impact of $100,000 or less and the public utility has annual revenues of $500,000,000 or more. The threshold values will increase every 5 years to reflect inflation. Public utilities must annually file a report detailing transactions performed under the exemption. A violation of the public utilities act or commission actions implementing this bill would be a crime, imposing a state-mandated local program.