UTILITY-WATER & SEWER VALUE

Amends the Public Utilities Act. Modifies a Section concerning valuation of water and sewer utilities. Provides that the term "large public utility" means an investor-owned public utility that, among other specifications, regularly provides water or sewer service to customer connections (rather than regularly provides water or sewer service to more than 30,000 customer connections). Provides that in an acquiring large public utility's 2 rate cases after an acquisition, the large public utility shall (rather than may) file a rate tariff for an acquired water or sewer utility that establishes an annual rate of 2.5% or less, which shall apply to all customers of the utility going forward, regardless of the rates previously established by the district or tariff group into which the water or sewer utility is to be combined. Provides that any water or sewer utility system which may be purchased shall, before the purchase of the water or sewer utility system, require a vote by referendum of the voters of any affected unit of local government approving the purchase. Provides that a unit of local government that has approved the purchase of a water or sewer utility system may apply to the Illinois Commerce Commission for a docketed proceeding to negotiate the purchase of a buyback of a water or sewer utility system after 3 years after the purchase. Effective immediately.