Iowa SSB3060 modifies rules for acquiring water, sanitary sewer, and storm water utilities, including commission findings and ratemaking principles.

Iowa SSB3060 changes the process for acquiring water, sanitary sewer, and storm water utilities. The bill removes the $3 million purchase price threshold and requires the Iowa utilities commission to find that the acquisition will not detrimentally affect ratepayers. It mandates the commission to specify ratemaking principles before approving the acquisition and prohibits deferring these principles to a later proceeding. The bill also changes the basis for determining applicable ratemaking principles from the fair market value to the net book value.

Iowa SSB3060 modifies rules for acquiring water, sanitary sewer, and storm water utilities, including commission findings and ratemaking principles.

Iowa SSB3060 changes the process for acquiring water, sanitary sewer, and storm water utilities. The bill removes the $3 million purchase price threshold and requires the Iowa utilities commission to find that the acquisition will not detrimentally affect ratepayers. It mandates the commission to specify ratemaking principles before approving the acquisition and prohibits deferring these principles to a later proceeding. The bill also changes the basis for determining applicable ratemaking principles from the fair market value to the net book value.