94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB1912


 
Introduced 2/25/2005, by Sen. William R. Haine
 
SYNOPSIS AS INTRODUCED:
 		














220 ILCS 5/16-111.3










    Amends the Electric Service Customer Choice and Rate Relief Law of 1997 of the Public Utilities Act. Provides that, at such time as the Board of Governors of the Federal Reserve System includes neither the nominal yields of 30-year U.S. Treasury bonds nor the Treasury Long-Term Average Rate (25 years and above) in its weekly H.15 Statistical Release or successor publication, the nominal yields of 20-year U.S. Treasury bonds published by the Board of Governors of the Federal Reserve System in its weekly H.15 Statistical Release or successor publication shall instead be used to establish a rate for the purpose of calculating the Index defined in subsection (e) of Section 16-111 of the Act, and at such time, such yields of 20-year U.S. Treasury bonds shall also be used in place of the yields of 30-year U.S. Treasury bonds in the rate of return calculation required by subsection (d) of Section 16-111. Effective January 1, 2006.
















LRB094 08639 MKM 38848 b

















 


 


A BILL FOR









 











SB1912

LRB094 08639 MKM 38848 b






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    AN ACT concerning regulation.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Public Utilities Act is amended  by changing 
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Section 16-111.3 as follows:
 



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    (220 ILCS 5/16-111.3)


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    Sec. 16-111.3. Transition period earnings calculations. At 
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such time as
the Board of Governors of the Federal Reserve 
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System ceases to include the
monthly average yields of 30-year 
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U.S. Treasury bonds in its weekly H.15
Statistical Release or 
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successor publication, the Monthly Treasury Long-Term
Average 
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Rates (25 years and above) published by the Board of Governors 
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of the
Federal Reserve System in its weekly H.15 Statistical 
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Release or successor
publication shall instead be used to 
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establish a rate for the purpose of
calculating the Index 
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defined in subsection (e) of Section 16-111 of this Act,
and at 
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such time, such Monthly Treasury Long-Term Average Rates (25 
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years and
above) shall also be used in place of the monthly 
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average yields of 30-year
U.S. Treasury bonds in the rate of 
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return calculation required by subsection
(d) of Section 
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16-111.  At such time as the Board of Governors of the Federal 
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Reserve System includes neither the nominal yields of 30-year 
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U.S. Treasury bonds nor the Treasury Long-Term Average Rate (25 
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years and above) in its weekly H.15 Statistical Release or 
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successor publication, the nominal yields of 20-year U.S. 
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Treasury bonds published by the Board of Governors of the 
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Federal Reserve System in its weekly H.15 Statistical Release 
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or successor publication shall instead be used to establish a 
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rate for the purpose of calculating the Index defined in 
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subsection (e) of Section 16-111 of this Act, and at such time, 
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such yields of 20-year U.S. Treasury bonds shall also be used 
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in place of the yields of 30-year U.S. Treasury bonds in the 
 


 






SB1912
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LRB094 08639 MKM 38848 b




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rate of return calculation required by subsection (d) of 
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Section 16-111. An electric utility shall also remove the 
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effects, if
any, of any impairment due to the application of 
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Statement of Financial
Accounting Standards No. 142,
which was 
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issued in June 2001, when making the calculations required by 
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this
Section or by subsections (d) and (e) of Section 16-111.

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(Source: P.A. 92-537, eff. 6-6-02.)



 

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    Section 99. Effective date. This Act takes effect January 
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1, 2006.