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Enrolled Senate Bill (S)

Sponsored by

DIGEST

Distressed utilities. Amends a provision in the statute concerning the acquisition of distressed water or wastewater utilities to require that, upon filing a petition with the utility regulatory commission (IURC) to include the cost differentials of the transaction as part of the acquiring utility company's rate base, the acquiring utility company must provide notice to its customers that the petition has been filed. (Current law requires the acquiring utility company to provide notice to its customers if the proposed acquisition will increase the utility company's rates by an amount that is greater than 1% of the utility company's base annual Distressed utilities. Amends a provision in the statute concerning the acquisition of distressed water or wastewater utilities to require that, upon filing a petition with the utility regulatory commission (IURC) to include the cost differentials of the transaction as part of the acquiring utility company's rate base, the acquiring utility company must provide notice to its customers that the petition has been filed. (Current law requires the acquiring utility company to provide notice to its customers if the proposed acquisition will increase the utility company's rates by an amount that is greater than 1% of the utility company's base annual revenue.) Amends a provision in the statute concerning the sale or disposition of nonsurplus municipally owned utility property to provide that in determining whether the sale or disposition according to the parties' proposed terms and conditions is in the public interest, the IURC shall accept as reasonable the valuation of the property as determined through an appraisal and review made under the procedures set forth in the statute. ... View more