Exceptions to commission jurisdiction.
Ark. Code Ann. § 23-18-904
in effect(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 because of the potential availability of storm recovery financing.
Source: Arkansas General Assembly, Acts of 2021-2026 (arkleg.state.ar.us)URL: https://arkleg.state.ar.us/Acts/FTPDocument?path=%2FACTS%2F2021R%2FPublic%2F&file=641.pdf&ddBienniumSession=2021%2F2021RFetched: 11/8/2026