A bill to deem certain interests to be reasonably incidental to the operation of a gas utility company for the purpose of the Public Utility Holding Company Act of 1965.

Declares that the acquisition or retention 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) shall be deemed to be reasonably incidental and economically necessary, for purposes of the Public Utility Holding Company Act, 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.)