Synopsis As Introduced 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.
Replaces everything after the enacting clause. Reinserts provisions of the introduced bill with changes. Removes a provision that would limit the Illinois Commerce Commission to ascertain the value of water or sewer utilities under a specified provision until June 1, 2018. Makes other changes. Effective immediately.
House Floor Amendment No. 2 Provides that the average of 3 appraisals shall be performed by 3 different appraisers to determine the fair market value of a water or sewer utility instead of one appraisal by one appraiser. Provides that either the lesser of (i) the purchase price or (ii) the fair market value (instead of the appraised value) shall constitute the rate base associated with a water or sewer utility.