Bill > SB653

This bill modifies the funding mechanism for the Missouri Public Service Commission (PSC) by adjusting how expenses for utility regulation are calculated and assessed. Specifically, the bill increases the maximum assessment rate from 0.315% to 0.350% of a utility's gross intrastate operating revenues, which is used to fund the PSC's regulatory activities. The bill maintains the existing process where the PSC estimates its annual expenses, allocates those expenses across different utility groups (such as electrical, gas, water/sewer, telephone, and other utilities), and then assesses each utility group proportionally based on their revenues. Utilities can pay their assessment in a lump sum by July 15th or opt to pay in four equal quarterly installments. The collected funds are deposited into a special Public Service Commission Fund, which can only be used for utility regulation expenses. Any surplus funds at the end of a fiscal year will not revert to the general revenue fund but instead will be applied to reduce the next year's assessments. The bill also preserves the requirement for utilities to report their annual gross intrastate operating revenues to the PSC by March 31st each year, with the commission able to estimate revenues if a utility fails to report.

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https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=3379125