SB 349

  • Indiana Senate Bill
  • 2021 Regular Session
  • Introduced in Senate
  • Passed Senate Feb 23, 2021
  • Passed House Apr 05, 2021
  • Signed by Governor Apr 26, 2021

Financing, transfer, and improvement of utility assets.

Bill Subjects

Cities And Towns Utilities

Abstract

Requires that the priority ranking system used by the Indiana finance authority in making loans or other financial assistance from: (1) the drinking water revolving loan fund; or (2) the wastewater revolving loan fund; must prioritize loans securing longer term benefits over shorter term projects, all other factors being equal. Provides that not later than 60 days after the effective date of a change in the applicable federal or state income tax rate as a result of new legislation, a water or wastewater utility shall petition the utility regulatory commission (IURC) for a water or wastewater utility surcharge that adjusts the water or wastewater utility's rates and charges to provide recovery for the change in the federal or state income tax rate. Provides that a water or wastewater utility that serves fewer than 8,000 customers may, but is not required to, file a petition for such a surcharge. Provides that a surcharge shall be calculated to reflect the difference between: (1) the amount of federal or state income taxes that each existing rate or charge of the water or wastewater utility was designed to recover based on the income tax rate in effect at the time the rate or charge was approved; and (2) the amount of federal or state income taxes that would have been embedded in the given rate or charge had the new tax rate been in effect at the time of approval. Provides that a surcharge shall not include normalization of a water or wastewater utility's accumulated deferred income taxes. Provides that the IURC shall approve a proposed surcharge if the IURC finds that: (1) the surcharge has been calculated correctly; and (2) the water or wastewater utility's proposal is just and reasonable. Provides that an approved surcharge shall operate on a prospective basis. Amends the applicability language of the statute governing the transfer, acquisition, and improvement of utilities by municipalities to specify that the statute applies to a municipally owned electric, water, wastewater, or combined water and wastewater utility.

Bill Sponsors (7)

Votes


Actions


Apr 26, 2021

Senate

Signed by the President of the Senate

Office of the Governor

Signed by the Governor

Senate

Public Law 120

Apr 22, 2021

House

Signed by the Speaker

Apr 21, 2021

Senate

Signed by the President Pro Tempore

Apr 13, 2021

Senate

Senate concurred in House amendments; Roll Call 434: yeas 48, nays 1

Apr 06, 2021

House

Returned to the Senate with amendments

Senate

Motion to concur filed

Apr 05, 2021

House

Third reading: passed; Roll Call 354: yeas 91, nays 5

Mar 30, 2021

House

Amendment #1 (Soliday) prevailed; voice vote

House

Second reading: amended, ordered engrossed

Mar 23, 2021

House

Committee report: amend do pass, adopted

Mar 04, 2021

House

First reading: referred to Committee on Utilities, Energy and Telecommunications

  • Reading-1
  • Referral-Committee
utilities, energy and telecommunications

Feb 24, 2021

Senate

Referred to the House

Feb 23, 2021

Senate

Third reading: passed; Roll Call 192: yeas 39, nays 8

Senate

Cosponsor: Representative Pressel

Senate

House sponsor: Representative Soliday

Feb 22, 2021

Senate

Senator Doriot added as coauthor

Senate

Senator Randolph added as coauthor

Senate

Senator Zay added as second author

Senate

Second reading: amended, ordered engrossed

Senate

Amendment #1 (Koch) prevailed; voice vote

Senate

Senator Houchin added as third author

Feb 18, 2021

Senate

Committee report: amend do pass, adopted

Jan 11, 2021

Senate

First reading: referred to Committee on Utilities

  • Reading-1
  • Referral-Committee
utilities

Senate

Authored by Senator Koch

Bill Text

Bill Text Versions Format
Introduced Senate Bill (S) PDF
Senate Bill (S) PDF
Engrossed Senate Bill (S) PDF
Senate Bill (H) PDF
Engrossed Senate Bill (H) PDF
Enrolled Senate Bill (S) PDF

Related Documents

Document Format
Fiscal Note: SB0349.06.ENRH.FN001 PDF

Sources

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