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H.R. 3656 (101st): Gas Related Activities Act of 1990

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

10/27/1990--Passed Senate amended. Gas Related Activities Act of 1990 - Declares that the acquisition by a registered public utility holding company of any interest in a natural gas company (or a company engaged in specified natural gas-related activities including gas supply-related activities) shall be deemed to be reasonably incidental and economically necessary, for purposes of the Public Utility Holding Company Act of 1935, to the operation of the gas utility companies whose voting securities the holding company owns. (This makes any gas-related activities functionally related to the gas distribution business, thus meeting the requirements of such Act, regardless of whether the local distribution company involved is affiliated or unaffiliated with the holding company.) Requires, where the company whose interest is acquired is organized for gas-supply related activities, that: (1) the company proposing the acquisition must prove that it is in the interest of gas consumers; (2) the Securities and Exchange Commission must determine that such acquisition will not be detrimental to gas consumers; and (3) such determination shall be made on a case-by-case basis and shall not be based on any preset criteria.