(a) If the Arkansas Public Service Commission issues a financing order to a utility pursuant to this section, the commission shall not:(1) Consider the storm recovery bonds issued pursuant to the financing order to be the debt of the utility other than for federal and state income tax purposes;(2) Consider the storm recovery charges paid under the financing order to be the revenue of the utility for any purpose;(3) Consider the storm recovery costs or financing costs specified in the financing order to be the costs of the utility; or(4) Determine any action taken by a utility which is consistent with the financing order to be unjust or unreasonable.(b) The commission shall not: (1) Order or otherwise directly or indirectly require a utility to use storm recovery bonds to finance any project, addition, plant, facility, extension, capital improvement, equipment, or any other expenditure;(2) Refuse to allow a utility to recover costs for storm recovery activities in an otherwise permissible and reasonable fashion; or(3) Refuse or condition authorization or approval of the issuance and sale by a utility of securities or the assumption by it of liabilities or obligations, solely

rmissible and reasonable fashion; or(3) Refuse or condition authorization or approval of the issuance and sale by a utility of securities or the assumption by it of liabilities or obligations, solely because of the potential availability of storm recovery financing.Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021.Acts 2009, No. 729, § 1.

(a) If the Arkansas Public Service Commission issues a financing order to a utility pursuant to this section, the commission shall not:(1) Consider the storm recovery bonds issued pursuant to the financing order to be the debt of the utility other than for federal and state income tax purposes;(2) Consider the storm recovery charges paid under the financing order to be the revenue of the utility for any purpose;(3) Consider the storm recovery costs or financing costs specified in the financing order to be the costs of the utility; or(4) Determine any action taken by a utility which is consistent with the financing order to be unjust or unreasonable.(b) The commission shall not: (1) Order or otherwise directly or indirectly require a utility to use storm recovery bonds to finance any project, addition, plant, facility, extension, capital improvement, equipment, or any other expenditure;(2) Refuse to allow a utility to recover costs for storm recovery activities in an otherwise permissible and reasonable fashion; or(3) Refuse or condition authorization or approval of the issuance and sale by a utility of securities or the assumption by it of liabilities or obligations, solely

rmissible and reasonable fashion; or(3) Refuse or condition authorization or approval of the issuance and sale by a utility of securities or the assumption by it of liabilities or obligations, solely because of the potential availability of storm recovery financing.Amended by Act 2021, No. 641,§ 1, eff. 4/12/2021.Acts 2009, No. 729, § 1.