093_HB3557
LRB093 09016 JLS 09248 b
1 AN ACT concerning utilities.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Public Utilities Act is amended by adding
5 Section 6-103.1 as follows:
6 (220 ILCS 5/6-103.1 new)
7 Sec. 6-103.1. Purchase of public utility by out-of-state
8 company.
9 (a) An out-of-state company or an affiliate of an
10 out-of-state company may not enter into a transaction for the
11 purchase of a public utility located in Illinois unless prior
12 to the transaction, the Commission has held hearings and has
13 determined that the transaction will not be detrimental to
14 the public interest or the interests of consumers and that
15 the taxes collected by the utility from its ratepayers will
16 be paid in full to the appropriate government entities.
17 (b) The Department of Revenue shall review the taxes
18 paid by the out-of-state company in Illinois during the
19 2-year period before the acquisition and shall report its
20 findings to the Commission.
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.