Illinois General Assembly

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 Bill Status of SB3026  99th General Assembly


Short Description:  UTILITIES-WATER ASSETS PRICING

Senate Sponsors
Sen. Chuck Weaver

Last Action
DateChamber Action
  1/10/2017SenateSession Sine Die

Statutes Amended In Order of Appearance
220 ILCS 5/5-119 new


Synopsis As Introduced
Amends the Public Utilities Act. Adds provisions concerning pricing of water assets, meaning a 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.

Actions 
DateChamber Action
  2/18/2016SenateFiled with Secretary by Sen. Chuck Weaver
  2/18/2016SenateFirst Reading
  2/18/2016SenateReferred to Assignments
  3/8/2016SenateAssigned to Environment and Conservation
  4/8/2016SenateRule 2-10 Committee Deadline Established As April 22, 2016
  4/22/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 13, 2016
  5/13/2016SenateRule 3-9(a) / Re-referred to Assignments
  1/10/2017SenateSession Sine Die

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