If you dropped out of college, you're still qualified to be a Florida governor, leading the nation's fourth largest state.

Or a state senator, deciding how to spend billions in tax dollars.

Or the state's chief financial officer, responsible for the accounting and auditing of the state's books.

But without a college degree, some legislators say you're not qualified to help set utility rates paid by millions of Floridians.

These regulators "have serious responsibilities to understand complicated rate cases," said Rep. Joe Gibbons, D- Hallandale Beach. "Someone with a college degree has the ability to learn and the discipline required to receive it."

He is one of 34 lawmakers who has voted for a bill that would require those appointed to the state Public Services Commission to have a bachelor's degree from an accredited college. The provision, one of many to reorganize the agency that regulates the state's utilities, is in a bill that could be put to a full House vote this week.

Some observers see another reason for the college-degree provision: oust commission Chairwoman Nancy Argenziano.

"She is fighting for consumers, and the utilities don't like it," said Bill Newton, executive director of the Florida Consumer Action Network. "Utilities are among the largest contributors to the Legislature, so it is no surprise that they are doing the utilities' bidding."

The five-member Public Service Commission has been at the center of a political firestorm over the past year after the state's largest utility, Florida Power & Light, proposed its largest rate increase ever. Contentious hearings erupted over allegations of cozy relationships between regulators and utility staffers.

Some commission officials resigned or were put on temporary leave. Gov. Charlie Crist appointed two regulatory newcomers to the commission, and the new commission rejected all but 6 percent of FPL's rate increase.

All of which put the Public Service Commission in the public eye.

Three House committees have approved the bill to reorganize the commission. Gibbons said the bill "has nothing to do with any one individual."

Five legislators who voted for it don't have bachelor's degrees, including Matt Hudson, a Republican who represents parts of Broward and Collier counties.

Hudson said he supports the requirement for commissioners because they're paid more than $130,000 a year and deal with "extraordinarily technical matters." Legislators are paid about $30,000 for their part-time work.

"Certainly these are people that are expected to know a great deal, and I think it's appropriate that we put criterion, just like you would put criterion for any executive position," he said.

Florida House Speaker Larry Cretul supports the requirement.

A college requirement is important because "PSC members are not elected," Jill Chamberlin, the speaker's spokeswoman, wrote in an e-mail. "They are supposed to make decisions as judges do."

In the FPL rate case, Chamberlin said the PSC considered 176 complex issues ranging from accounting to the cost of capital. The commission has a staff of engineers, economists, accountants, finance experts and lawyers to review these issues, "but the staff does not make the decisions," she wrote.

As for comparisons to elected officials, "The Governor, the Legislature are elected," she said. "It's up to the voters to determine standards for knowledge and background."