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Bill > HB626
PA HB626
PA HB626In rates and distribution systems, further providing for valuation of acquired water and wastewater systems.
summary
Introduced
08/30/2023
08/30/2023
In Committee
08/30/2023
08/30/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
Amending Title 66 (Public Utilities) of the Pennsylvania Consolidated Statutes, in rates and distribution systems, further providing for valuation of acquired water and wastewater systems.
AI Summary
This bill amends the Pennsylvania Consolidated Statutes to further provide for the valuation of acquired water and wastewater systems. It requires a ratepayer referendum for the acquisition of a selling utility with a fair market value of $1 million or more, where ratepayers must approve the sale. The bill also outlines the process for the acquiring public utility to include in its application for commission approval, such as the purchase price, ratemaking rate base, and transaction costs. Additionally, the bill states that unless the ratepayer referendum shows majority approval, the proposed acquisition shall be considered contrary to the public interest, and the commission shall not approve the application.
Committee Categories
Business and Industry
Sponsors (9)
John Lawrence (R)*,
Joe Ciresi (D),
Paul Friel (D),
Mark Gillen (R),
Liz Hanbidge (D),
Dan Moul (R),
Christina Sappey (D),
Melissa Shusterman (D),
Craig Williams (R),
Last Action
Referred to CONSUMER PROTECTION, TECHNOLOGY AND UTILITIES (on 08/30/2023)
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