HB944

Pennsylvania HB944 amends the valuation of acquired water and wastewater systems, setting fees for utility valuation experts.

Pennsylvania HB944 amends Title 66 of the Pennsylvania Consolidated Statutes to modify the valuation of acquired water and wastewater systems. The bill specifies that fees paid to utility valuation experts can be included in transaction and closing costs. These fees must be based on an hourly rate deemed reasonable by the commission and cannot exceed 5% of the fair market value of the selling utility. Utility valuation experts must submit supporting documentation for each hour billed, which is subject to review and approval by the commission before fees are disbursed.