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Senate Bill 257

Enrolled Senate Bill (S)

DIGEST

Distressed water and wastewater utilities. Specifies that for purposes of the statute governing the acquisition of distressed water or wastewater utilities, a "utility company" includes, in addition to a regional sewer or water district, a: (1) public utility; (2) municipally owned utility; or (3) not-for-profit utility; that provides water or wastewater service. Eliminates a provision under which the IURC was not required to approve a petition by an acquiring utility company under the statute to recover the cost differentials associated with the purchase of a distressed utility unless the IURC found that the distressed utility being acquired: (1) served not Distressed water and wastewater utilities. Specifies that for purposes of the statute governing the acquisition of distressed water or wastewater utilities, a "utility company" includes, in addition to a regional sewer or water district, a: (1) public utility; (2) municipally owned utility; or (3) not-for-profit utility; that provides water or wastewater service. Eliminates a provision under which the IURC was not required to approve a petition by an acquiring utility company under the statute to recover the cost differentials associated with the purchase of a distressed utility unless the IURC found that the distressed utility being acquired: (1) served not more than 3,000 customers; or (2) was nonviable in the absence of the acquisition. Provides that the distressed utility being acquired is not furnishing or maintaining adequate, efficient, safe, and reasonable service and facilities for purposes of the statute if the IURC finds that the distressed utility: (1) is the property of a municipally owned utility serving fewer than 5,000 customers; and (2) is being sold by an agreement between the parties that is subject to IURC approval. Provides that in a proceeding under the statute, the IURC shall issue its final order not later than 210 days after the filing of the petitioner's case in chief. Provides that for purposes of the statute and for sales of nonsurplus municipally owned utility property reached by an agreement between the parties, the IURC's order approving the petition or agreement shall authorize the acquiring utility company or purchaser to record: (1) the full purchase price; (2) incidental expenses; and (3) other costs of acquisition; as the original cost of the utility plant in service assets being acquired, allocated in a reasonable manner among appropriate utility in service accounts. For purposes of the statute governing the sale of nonsurplus municipally owned utility property: (1) provides that the municipal executive, in addition to the municipal legislative body (as provided under current law), may make the determination to sell or otherwise dispose of the property; and (2) replaces the requirement that the legislative body adopt an ordinance to appoint appraisers to appraise the property with the requirement that the legislative body or the municipal executive provide for the appointment of the appraisers in a written document that is subject to public inspection. Does the following in the case of an ordinance adopted after March 28, 2016, for the sale or disposition of nonsurplus municipally owned property: (1) Provides that the sale or disposition must be approved by the IURC. (2) Requires the IURC to approve the sale or disposition according to the terms and conditions proposed by the parties if the IURC finds that the terms and conditions are in the public interest. (3) Sets forth a process that applies to the IURC's determination of whether the proposed sale or disposition is in the public interest. (4) Provides that the purchase price of the nonsurplus municipally owned utility property shall be considered reasonable if it does not exceed the appraised value set forth in the required appraisal. (5) Requires the IURC to issue its final order not later than 210 days after the filing of the parties' case in chief. (6) Eliminates the referendum process with respect to the proposed sale or disposition if the IURC determines that certain factors are satisfied. ... View more