HB2712 amends the Public Utilities Act to regulate the acquisition of water or sewer utilities by large public utilities in Illinois.
HB2712 amends the Public Utilities Act to establish procedures for the acquisition of water or sewer utilities by large public utilities. If a majority of electors in the service area vote in favor of the acquisition, it may proceed. The Illinois Commerce Commission must establish the rate base for the acquired utility, which is set at 20% of the lesser of the purchase price or fair market value. The large public utility may recommend rates for the acquired utility, which the Commission must approve.
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