HB1288 EngrossedLRB097 09165 ASK 49300 b

1    AN ACT concerning public utilities.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Public Utilities Act is amended by adding
5Section 9-201.1 as follows:
 
6    (220 ILCS 5/9-201.1 new)
7    Sec. 9-201.1. Change in tax rate for gross receipt taxes,
8federal income taxes, and State income taxes.
9    (a) A water or sewer utility may file a petition with the
10Commission to update any gross receipts tax rate set forth in
11Section 2-202 of this Act, federal income tax rate, or State
12income tax rate embedded in a water or sewer utility's base
13rates for a change in the tax rate if, from the date of filing,
14the utility had received a rate order from the Commission in
15the previous 24 months. The Commission shall review and by
16order approve, or approve as modified, the change in base rates
17within 180 days after the date on which the proceeding is
18initiated.
19    (b) The Commission may also initiate a proceeding to update
20any gross receipts tax rate set forth in Section 2-202 of this
21Act, federal income tax rate, or State income tax rate embedded
22in a water or sewer utility's base rates for a change in the
23tax rate if the utility had received a rate order from the

 

 

HB1288 Engrossed- 2 -LRB097 09165 ASK 49300 b

1Commission within the preceding 24 months from the date of the
2order initiating the proceeding.
 
3    Section 99. Effective date. This Act takes effect upon
4becoming law.