HB1379ham002 98TH GENERAL ASSEMBLY

Rep. Brandon W. Phelps

Filed: 3/13/2013

09800HB1379ham002 LRB098 05850 CEL 42855 a

AMENDMENT TO HOUSE BILL 1379

AMENDMENT NO. ______. Amend House Bill 1379, AS AMENDED, with reference to page and line numbers of House Amendment No. 1 as follows:

on page 4, by replacing lines 12 through 25 with the following:

"(c) If a large public utility elects the procedures under this Section to establish the rate base of a water or sewer utility that it is acquiring, then 3 appraisals shall be performed. The average of these 3 appraisals shall represent the fair market value of the water or sewer utility that is being acquired. The appraisals shall be performed by 3 appraisers selected by the Commission's water department manager and engaged by either the water or sewer utility being acquired or by the large public utility. The Commission's water department manager shall select the appraisers within 30 days after the water department manager is officially notified. Each appraiser shall be engaged on reasonable terms approved by the Commission. Each appraiser shall be a disinterested person licensed as a State certified general real estate appraiser under the Real Estate Appraiser Licensing Act of 2002.

Each appraiser shall:"; and

on page 6, by replacing line 9 with the following:

"(d) The lesser of (i) the purchase price or (ii) the fair market value determined under subsection (c) of this Section".