Los Angeles nears water rationing

With a recent flurry of winter storms doing little to dampen California's latest drought, the nation's biggest public utility voted on Tuesday to impose water rationing in Los Angeles for the first time in nearly two decades.

Under the plan adopted in principle by the governing board of the L.A. Department of Water and Power, homes and businesses would pay a penalty rate - nearly double normal prices - for any water they use in excess of a reduced monthly allowance.

The five-member board plans to formally vote on details of the measure next month.