DIGEST OF INTRODUCED BILL
Acquisition of utility property. Provides that a municipality or a municipally owned utility may not purchase the property of a utility company that provides water or sewer service (including a regional sewer and water district) unless the utility regulatory commission (IURC): (1) finds that the utility company has continued violations of the IURC's orders or the law regulating the utility company after the IURC has ordered compliance; or (2) finds after a review that the utility company has severe deficiencies that the utility company has failed to remedy. Specifies that the statute prescribing the procedures for such findings by the IURC exclusively governs the acquisition of a water or sewer utility. Provides that if a municipality or a municipally owned utility has initiated proceedings under another statute before the effective date of this statute, the utility to be acquired may seek injunctive relief. Provides that a municipality or a public utility may not acquire any of the property of a rural electric membership corporation (REMC) without the consent of the REMC. Provides that, after a municipally owned utility withdraws from the IURC's jurisdiction, the IURC continues to have jurisdiction over the utility's rates and charges that are charged to customers located outside the municipality's boundaries. Requires the office of utility consumer counselor to represent such customers in rate cases.