Bill > HB1668

This bill establishes new rules for how public utility companies must report and value wind power devices, solar power devices, and utility scale battery energy storage systems when ownership changes. Specifically, when a new public utility company acquires these types of energy devices, they must initially value the devices at the same amount the previous owner last reported, with adjustments for depreciation according to a schedule created by the department of local government finance. The bill requires the new owner to notify the department of ownership changes and prevents the valuation from being lowered below the previous owner's last reported value. For wind power devices, solar power devices, and battery storage systems, the bill defines what constitutes a "change of ownership" to include transactions that result in a majority change of voting securities or the sale of substantially all such devices. The department of local government finance must create depreciation schedules, modify annual report forms, and prepare reports to the interim study committee on energy, utilities, and telecommunications in 2026 and 2027 detailing the valuation of these devices and the implementation of the new rules. The provisions of the bill will take effect on January 1, 2026, and expire on January 1, 2028.

Transportation and Infrastructure

https://iga.in.gov/legislative/2025/bills/house/1668/details