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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB5008 Introduced , by Rep. Ryan Spain SYNOPSIS AS INTRODUCED:
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Amends the Public Utilities Act. Adds provisions concerning pricing of water assets, meaning a for profit water utility or water distribution company and its tangible and intangible properties, by an Illinois governmental purchaser. Provides that the determination of value or price for the purchase or acquisition of water assets by the Illinois governmental purchaser: may not distinguish, penalize, or increase the value or price to be paid by an Illinois governmental purchaser based on specified characteristics of the purchaser; or may not use as a factor any excess of replacement cost new minus depreciation over the value of price based on fair market value of the water assets, as determined by what a willing buyer in the private sector would value, price, or pay for the water assets. Provides for application of the provisions to contracts already in place. Contains a severability clause. Effective immediately.
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| | A BILL FOR |
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| | HB5008 | | LRB100 20147 SMS 35432 b |
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1 | | AN ACT concerning regulation.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Public Utilities Act is amended by adding |
5 | | Section 5-119 as follows:
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6 | | (220 ILCS 5/5-119 new) |
7 | | Sec. 5-119. Prevent unfairness in pricing of water assets |
8 | | acquired by governmental purchasers. |
9 | | (a) In this Section: |
10 | | "Illinois governmental purchaser" means the State of |
11 | | Illinois, any State agency, department, or division, or any |
12 | | municipality, county, city, township, water district, or other |
13 | | body politic or political subdivision of the State of Illinois. |
14 | | "Water assets" means a for profit water utility or water |
15 | | distribution company or any of its assets, facilities, piping, |
16 | | pumping and lift stations, water sources and rights, real |
17 | | estate, easements, intangibles, franchises, or other |
18 | | properties. |
19 | | (b) In determining the value or price for the purchase or |
20 | | acquisition of water assets by an Illinois governmental |
21 | | purchaser, whether in an eminent domain proceeding or any other |
22 | | exercise of a right possessed by an Illinois governmental |
23 | | purchaser to purchase or acquire water assets (by contract or |