This bill proposes to amend the regulations governing the issuance of securities by common carriers under the jurisdiction of the Public Service Commission in Nebraska. Specifically, it seeks to eliminate existing conditions that currently govern this process, thereby streamlining the regulatory framework for common carriers.

Additionally, the bill includes the outright repeal of Section 75-148 from the Reissue Revised Statutes of Nebraska, which likely contains the provisions related to the aforementioned conditions. This repeal signifies a move towards reducing regulatory burdens on common carriers in the state.