UTILITIES - GAS INFRASTRUCTURE

Amends the Public Utilities Act. Provides that a gas or electric utility may recover through an automatic adjustment clause tariff the costs associated with an investment in qualifying infrastructure facilities and such costs may be amortized over a 4-year period at the election of the utility, subject to certain limitations. Provides that the automatic adjustment clause tariff may be established outside the context of a general rate filing. Provides that the Commission shall review and, by order, approve or approve as modified the proposed tariff within 90 days after the date on which it was filed. Provides that the Commission shall not consider the availability or existence of an automatic adjustment clause tariff or any amounts of investments or revenue recovered by such tariff in its determination of a utility's rate of return on rate base. Defines "costs associated with an investment in qualifying infrastructure facilities", "Director", "qualifying infrastructure facilities", "qualifying projects", and "contributions in aid of construction". Makes other changes. Includes a severability clause. Effective immediately.