Illinois General Assembly - Bill Status for SB1477
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 Bill Status of SB1477  103rd General Assembly


Senate Sponsors
Sen. Don Harmon, Sue Rezin and Suzy Glowiak Hilton

Last Action
DateChamber Action
  2/7/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
220 ILCS 5/9-210.5

Synopsis As Introduced
Amends the Public Utilities Act. Provides that in provisions concerning the valuation of water and sewer utilities, 20% of the lesser of (1) the purchase price or (2) the fair market value determined shall constitute the rate base associated with the water or sewer utility as acquired by and incorporated into the rate base of the district designated by the acquiring large public utility. Provides that the amount of the difference between the rate base and the purchase price or fair market value shall be borne by the shareholders of the acquiring large public utility. Provides that only 20% of the transaction and closing costs shall be included in rate base. Provides that any large public utility acquiring a water or sewer utility must inform (rather than if the water or sewer utility being acquired is owned by the State or any political subdivision thereof, then the water or sewer utility must inform) the public of the terms of its acquisition.

DateChamber Action
  2/7/2023SenateFiled with Secretary by Sen. Ann Gillespie
  2/7/2023SenateFirst Reading
  2/7/2023SenateReferred to Assignments
  2/8/2023SenateAdded as Co-Sponsor Sen. Sue Rezin
  5/4/2023SenateAdded as Co-Sponsor Sen. Suzy Glowiak Hilton
  4/15/2024SenateChief Sponsor Changed to Sen. Don Harmon

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