Bill Text: IL HB1379 | 2013-2014 | 98th General Assembly | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Public Utilities Act. Provides an alternative procedure that a large public utility may choose in establishing the ratemaking rate base of a water or sewer utility that the large public utility is acquiring. Provides that the Commission's order that approves the large public utility's acquisition of the water or sewer utility shall include the Commission's decision establishing (1) the ratemaking rate base of the water or sewer utility and (2) the district or tariff group with which the water or sewer utility will be combined for ratemaking purposes. Sets forth provisions concerning definitions, appraisers and their duties, ratemaking rate base, and rate cases. Makes the provisions applicable until June 1, 2018. Makes other changes. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Passed) 2013-08-09 - Public Act . . . . . . . . . 98-0213 [HB1379 Detail]
Download: Illinois-2013-HB1379-Amended.html
Bill Title: Amends the Public Utilities Act. Provides an alternative procedure that a large public utility may choose in establishing the ratemaking rate base of a water or sewer utility that the large public utility is acquiring. Provides that the Commission's order that approves the large public utility's acquisition of the water or sewer utility shall include the Commission's decision establishing (1) the ratemaking rate base of the water or sewer utility and (2) the district or tariff group with which the water or sewer utility will be combined for ratemaking purposes. Sets forth provisions concerning definitions, appraisers and their duties, ratemaking rate base, and rate cases. Makes the provisions applicable until June 1, 2018. Makes other changes. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Passed) 2013-08-09 - Public Act . . . . . . . . . 98-0213 [HB1379 Detail]
Download: Illinois-2013-HB1379-Amended.html
| |||||||
| |||||||
| |||||||
1 | AMENDMENT TO HOUSE BILL 1379
| ||||||
2 | AMENDMENT NO. ______. Amend House Bill 1379, AS AMENDED, | ||||||
3 | with reference to page and line numbers of House Amendment No. | ||||||
4 | 1 as follows:
| ||||||
5 | on page 4, by replacing lines 12 through 25 with the following: | ||||||
6 | " (c) If a large public utility elects the procedures under | ||||||
7 | this Section to establish the rate base of a water or sewer | ||||||
8 | utility that it is acquiring, then 3 appraisals shall be | ||||||
9 | performed. The average of these 3 appraisals shall represent | ||||||
10 | the fair market value of the water or sewer utility that is | ||||||
11 | being acquired. The appraisals shall be performed by 3 | ||||||
12 | appraisers selected by the Commission's water department | ||||||
13 | manager and engaged by either the water or sewer utility being | ||||||
14 | acquired or by the large public utility. The Commission's water | ||||||
15 | department manager shall select the appraisers within 30 days | ||||||
16 | after the water department manager is officially notified. Each | ||||||
17 | appraiser shall be engaged on reasonable terms approved by the |
| |||||||
| |||||||
1 | Commission. Each appraiser shall be a disinterested person | ||||||
2 | licensed as a State certified general real estate appraiser | ||||||
3 | under the Real Estate Appraiser Licensing Act of 2002. | ||||||
4 | Each appraiser shall: "; and
| ||||||
5 | on page 6, by replacing line 9 with the following: | ||||||
6 | " (d) The lesser of (i) the purchase price or (ii) the fair | ||||||
7 | market value determined under subsection (c) of this Section ".
|