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A BILL to amend and reenact § 56-88.1 of the Code of Virginia, relating to public utilities; acquisition or disposition of control of a public utility; reopening rate proceeding under certain circumstances. Public utilities; reopening rate case in certain instances. Provides that if an application is filed with the State Corporation Commission for approval of the acquisition or disposition of control involving a public utility and such application is filed within 24 months after the entry of a final order in a rate increase proceeding, the Commission may, on its own initiative or upon petition of any interested person, reopen such rate increase proceeding.