HB1288eng 97TH GENERAL ASSEMBLY

HB1288 Engrossed LRB097 09165 ASK 49300 b

AN ACT concerning public utilities.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Public Utilities Act is amended by adding Section 9-201.1 as follows:

(220 ILCS 5/9-201.1 new)

Sec. 9-201.1. Change in tax rate for gross receipt taxes, federal income taxes, and State income taxes.

(a) A water or sewer utility may file a petition with the Commission to update any gross receipts tax rate set forth in Section 2-202 of this Act, federal income tax rate, or State income tax rate embedded in a water or sewer utility's base rates for a change in the tax rate if, from the date of filing, the utility had received a rate order from the Commission in the previous 24 months. The Commission shall review and by order approve, or approve as modified, the change in base rates within 180 days after the date on which the proceeding is initiated.

(b) The Commission may also initiate a proceeding to update any gross receipts tax rate set forth in Section 2-202 of this Act, federal income tax rate, or State income tax rate embedded in a water or sewer utility's base rates for a change in the tax rate if the utility had received a rate order from the Commission within the preceding 24 months from the date of the order initiating the proceeding.

Section 99. Effective date. This Act takes effect upon becoming law.