Illinois SB0075 amends the Public Utilities Act to revise the procedures for establishing the rate base of water or sewer utilities acquired by large.

Illinois SB0075 amends the Public Utilities Act to change how the rate base is established for water or sewer utilities acquired by large public utilities. The bill specifies that three appraisals must be performed to determine the fair market value of the utility being acquired. The average of these appraisals will represent the fair market value. The bill also allows for a referendum in the service area of the acquired utility, where a majority vote in favor is required for the acquisition to proceed.

Illinois SB0075 amends the Public Utilities Act to revise the procedures for establishing the rate base of water or sewer utilities acquired by large.

Illinois SB0075 amends the Public Utilities Act to change how the rate base is established for water or sewer utilities acquired by large public utilities. The bill specifies that three appraisals must be performed to determine the fair market value of the utility being acquired. The average of these appraisals will represent the fair market value. The bill also allows for a referendum in the service area of the acquired utility, where a majority vote in favor is required for the acquisition to proceed.