DIGEST OF INTRODUCED BILL
IURC penalties and merger authority. Provides that certain transactions involving the reorganization of a public utility require approval by the Indiana utility regulatory commission (IURC) after a hearing. Requires a resulting entity to establish procurement goals relating to minority and women's business enterprises and to report annually to the IURC the percentage of total procurements obtained from minority and women's business enterprises. Allows the IURC to impose a civil penalty of not more than $50,000 per offense if a public utility: (1) has repeatedly violated a law, an order, or an agreement between the IURC and the public utility; or (2) has severe deficiencies that the public utility has failed to remedy. Allows the IURC to impose only existing civil penalties for violations of slamming and cramming laws. Provides that a public utility may not award a bonus to or increase above the cost of living the compensation of the utility's director during the year after a rate increase.