KY SB163 | 2019 | Regular Session

Kentucky Senate Bill 163 (Prior Session Legislation)

Status

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on February 11 2019 - 25% progression, died in committee
Action: 2019-03-28 - recommitted to Natural Resources & Energy (S)
Pending: Senate Natural Resources and Energy Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Create a new section of KRS 278.010 to 278.450 to set forth procedures for the valuation of assets and rate base calculations relating to the acquisition of existing water or sewer utilities by investor-owned water or sewer utilities; define terms; allow the Public Service Commission to include in the acquiring utility's next base rate case the entire value of all assets acquired as measured by the fair market value on the date of acquisition or purchase price paid, whichever is less; specify certain considerations that the Public Service Commission shall make in reviewing an acquiring utility's request to include the value of acquired assets in the rate base; require the acquiring utility to pay for three appraisals, the average of which shall determine the fair market value; require one appraiser to be chosen by the acquiring utility, one to be chosen by the utility to be acquired, and one to be chosen by mutual agreement of the first two appraisers; require that the appraisers be properly qualified, not have any interest in the transaction, and not be a resident or taxpayer of the service area of the utility being acquired; require the appraisers to separately determine the fair market value of the assets in compliance with the latest version of the Uniform Standards of Professional Appraisal Practice; require that the appraisal include the value of all assets to be acquired regardless of source or original price; provide that the current value of the assets not be limited to or by the original purchase price or value of the assets; provide for the repayment of any debt owed on the acquired assets by the utility being acquired to any person or government entity; specify that nothing in the section affects the Public Service Commission's jurisdiction under KRS 278.040.

Title

AN ACT relating to the acquisition of water or sewer utilities.

History

Date	Chamber	Action
2019-03-28	Senate	recommitted to Natural Resources & Energy (S)
2019-03-14	Senate	passed over and retained in the Orders of the Day
2019-03-13	Senate	passed over and retained in the Orders of the Day
2019-03-12	Senate	passed over and retained in the Orders of the Day
2019-03-07	Senate	passed over and retained in the Orders of the Day
2019-03-06	Senate	passed over and retained in the Orders of the Day
2019-03-05	Senate	passed over and retained in the Orders of the Day
2019-03-04	Senate	passed over and retained in the Orders of the Day
2019-03-01	Senate	passed over and retained in the Orders of the Day
2019-02-28	Senate	passed over and retained in the Orders of the Day
2019-02-27	Senate	passed over and retained in the Orders of the Day
2019-02-26	Senate	passed over and retained in the Orders of the Day
2019-02-26	Senate	posted for passage in the Regular Orders of the Day for Tuesday, February 26, 2019
2019-02-21	Senate	2nd reading, to Rules
2019-02-20	Senate	reported favorably, 1st reading, to Calendar
2019-02-13	Senate	to Natural Resources & Energy (S)
2019-02-11	Senate	introduced in Senate