Public Utility Holding Company Act of 1996

TABLE OF CONTENTS:

Title I: Repeal of the Public Utility Holding Company Act of

1935

Title II: Enactment of the Public Utility Holding Company

Act of 1996

Title III: Conforming Changes to Other Statutes

Public Utility Holding Company Act of 1996 - Title I: Repeal of the Public Utility Holding Act of 1935 - Repeals the Public Utility Holding Company Act of 1935 (PUHCA).

Title II: Enactment of the Public Utility Holding Company Act of 1996 - Declares that this Act does not apply to persons previously exempted from regulations under the PUHCA. Authorizes the Federal Energy Regulatory Commission (FERC) to institute proceedings to terminate any such exemption if termination would be necessary for regulating the rates of a public utility company and for protecting consumers.

Empowers FERC to exempt any person or transaction from this title if it finds that regulation of such person or transaction is irrelevant to the rates of a public utility company.

Prescribes procedural guidelines for both FERC and State access to holding company records (including subsidiaries and affiliates).

Retains the jurisdiction of FERC and State commissions to determine whether a public utility company may recover in rates any costs of affiliate transactions. Grants FERC certain Federal Power Act enforcement powers.

Transfers from the Securities and Exchange Commission (SEC) to FERC all resources that relate primarily to the functions vested in FERC by this Act.

Expresses the sense of the Congress that all personnel of the Office of Public Utility Regulation of the SEC should be transferred to FERC.

Title III: Conforming Changes to Other Statutes - Amends the Federal Power Act to repeal its conflict of jurisdiction guidelines.