DIGEST OF INTRODUCED BILL
Public power and finance authority. Creates the public power and finance authority. Allows the authority to sell electricity at cost to Indiana customers other than investor owned utilities. Requires the authority to use project labor agreements. Allows the authority to charge fees to use its transmission lines and use the revenue generated by the fees to repay bonds. Provides that the utility regulatory commission (IURC) has jurisdiction over: (1) purchases of clean coal technology; and (2) certain merchant power plants. Requires a merchant power plant to give notice of a proposed facility to property owners within one half mile of the proposed facility, to hold hearings, and to issue written findings. Establishes the criteria the IURC must consider when considering a merchant power plant application. Requires the IURC to obtain a recommendation from the department of natural resources regarding a merchant power plant's planned use of and potential effect on a water resource and to have prepared an assessment of the plant's effect on a water resource and its users. Requires a merchant power plant that seeks approval from or alternative regulation by the IURC to establish proof of financial responsibility in an amount determined by the IURC. Requires the IURC to issue a decision on a merchant power plant's petition for approval or for alternative regulation not later than 18 months after the date of the petition. Lists the duties of the merchant power plant following approval by the IURC. Provides the circumstances under which the IURC may revoke its approval of a merchant power plant. Allows the IURC to decline to exercise jurisdiction over a facility that has applied to the IURC before March 1, 2003.