Illinois Senate Bill 1477

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 7 2023 - 25% progression
Action: 2024-04-15 - Chief Sponsor Changed to Sen. Don Harmon
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Public Utilities Act. Provides that in provisions concerning the valuation of water and sewer utilities, 20% of the lesser of (1) the purchase price or (2) the fair market value determined shall constitute the rate base associated with the water or sewer utility as acquired by and incorporated into the rate base of the district designated by the acquiring large public utility. Provides that the amount of the difference between the rate base and the purchase price or fair market value shall be borne by the shareholders of the acquiring large public utility. Provides that only 20% of the transaction and closing costs shall be included in rate base. Provides that any large public utility acquiring a water or sewer utility must inform (rather than if the water or sewer utility being acquired is owned by the State or any political subdivision thereof, then the water or sewer utility must inform) the public of the terms of its acquisition.

UTIL VALUATION-RATE BASE

Sen. Don Harmon [D]

Sen. Susan Rezin [R]

Sen. Suzanne Glowiak Hilton [D]

Date	Chamber	Action
2024-04-15	Senate	Chief Sponsor Changed to Sen. Don Harmon
2023-05-04	Senate	Added as Co-Sponsor Sen. Suzy Glowiak Hilton
2023-02-08	Senate	Added as Co-Sponsor Sen. Sue Rezin
2023-02-07	Senate	Referred to Assignments
2023-02-07	Senate	First Reading
2023-02-07	Senate	Filed with Secretary by Sen. Ann Gillespie

Chapter	Article	Section	Citation Type	Statute Text
220	5	9-210.5	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1477&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB1477.htm