Illinois HB2863 mandates public notice and appraisal for water or sewer utility acquisitions by large public utilities.
HB2863 amends the Public Utilities Act to require water or sewer utilities owned by the state or political subdivisions to inform the public about their acquisition by large public utilities. This includes holding a public meeting and mailing a notice to residents. The notice must detail the public meeting, the decision-making body, and potential rate increases over the next five years. The bill also outlines procedures for appraising the utility's value, including the engagement of disinterested appraisers and engineers.
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