SB3889

SB3889 amends the valuation process for water and sewer utilities in Illinois, expediting the repeal of certain provisions.

SB3889 modifies the Illinois Municipal Code and Public Utilities Act to streamline the valuation process for water and sewer utilities acquired by large public utilities. It mandates that before a sale of a municipal water or sewer system to a private entity, a referendum must be held with the municipality's electors. The bill also stipulates that three appraisals must be performed to establish the ratemaking rate base of the acquired utility, with the average of these appraisals determining the rate base.