State of Illinois
92^nd General Assembly
Legislation

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92_SB2081eng

 
SB2081 Engrossed                               LRB9212879JSpc

 1        AN ACT concerning public 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 16-111.3 as follows:

 6        (220 ILCS 5/16-111.3 new)
 7        Sec.  16-111.3.  Transition period earnings calculations.
 8    At such time as the Board of Governors of the Federal Reserve
 9    System ceases  to  include  the  monthly  average  yields  of
10    30-year  U.S.  Treasury  bonds in its weekly H.15 Statistical
11    Release  or  successor  publication,  the  Monthly   Treasury
12    Long-Term Average Rates (25 years and above) published by the
13    Board  of  Governors  of  the  Federal  Reserve System in its
14    weekly H.15  Statistical  Release  or  successor  publication
15    shall  instead be used to establish a rate for the purpose of
16    calculating the Index defined in subsection  (e)  of  Section
17    16-111  of  this Act, and at such time, such Monthly Treasury
18    Long-Term Average Rates (25 years and above)  shall  also  be
19    used  in  place of the monthly average yields of 30-year U.S.
20    Treasury bonds in the rate of return calculation required  by
21    subsection  (d) of Section 16-111.  An electric utility shall
22    also remove the  effects,  if  any,  of  the  application  of
23    Statement  of  Financial  Accounting Standards No. 142, which
24    was  issued  in  June  2001,  when  making  the  calculations
25    required by this Section or by subsections  (d)  and  (e)  of
26    Section 16-111.

27        Section  99.  Effective date.  This Act takes effect upon
28    becoming law.

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