Bill Text: IL HB1288 | 2011-2012 | 97th General Assembly | Amended
Bill Title: Amends the Public Utilities Act. Provides that the Illinois Commerce Commission shall authorize a water or sewer utility to file a surcharge that adjusts rates and charges to provide for recovery of the costs of any increase in the water or sewer utility's gross receipts tax rate set forth in a certain provision of the Act, federal income tax rate, or State income tax rate. Provides that the Commission shall review and, by order, approve or approve as modified the surcharge within 180 days after the date on which it is filed.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2011-04-08 - Third Reading - Short Debate - Lost 033-077-000 [HB1288 Detail]
Download: Illinois-2011-HB1288-Amended.html
| |||||||
| |||||||
| |||||||
1 | AMENDMENT TO HOUSE BILL 1288
| ||||||
2 | AMENDMENT NO. ______. Amend House Bill 1288 by replacing | ||||||
3 | everything after the enacting clause with the following:
| ||||||
4 | "Section 5. The Public Utilities Act is amended by adding | ||||||
5 | Section 9-201.1 as follows:
| ||||||
6 | (220 ILCS 5/9-201.1 new) | ||||||
7 | Sec. 9-201.1. Change in tax rate for gross receipt taxes, | ||||||
8 | federal income taxes, and State income taxes. | ||||||
9 | (a) A water or sewer utility may file a petition with the | ||||||
10 | Commission to update any gross receipts tax rate set forth in | ||||||
11 | Section 2-202 of this Act, federal income tax rate, or State | ||||||
12 | income tax rate embedded in a water or sewer utility's base | ||||||
13 | rates for a change in the tax rate if, from the date of filing, | ||||||
14 | the utility had received a rate order from the Commission in | ||||||
15 | the previous 24 months. The Commission shall review and by | ||||||
16 | order approve, or approve as modified, the change in base rates |
| |||||||
| |||||||
1 | within 180 days after the date on which the proceeding is | ||||||
2 | initiated. | ||||||
3 | (b) The Commission may also initiate a proceeding to update | ||||||
4 | any gross receipts tax rate set forth in Section 2-202 of this | ||||||
5 | Act, federal income tax rate, or State income tax rate embedded | ||||||
6 | in a water or sewer utility's base rates for a change in the | ||||||
7 | tax rate if the utility had received a rate order from the | ||||||
8 | Commission within the preceding 24 months from the date of the | ||||||
9 | order initiating the proceeding.
| ||||||
10 | Section 99. Effective date. This Act takes effect upon | ||||||
11 | becoming law.".
|