UTILITIES INFRASTRUCTURE RATE

Amends the Public Utilities Act. Requires the Illinois Commerce Commission to make a report to the Governor, the General Assembly, or either branch of the General Assembly (rather than the Governor) upon request. In provisions concerning recovery of delivery service costs through performance-based formula rate tariffs, makes changes concerning how the Commission shall determine the investment return on certain pension assets. Allows a utility to retroactively recover certain costs of delivery service to the extent not recovered through reconciliation by assessing a surcharge reflecting those unrecovered costs with interest at the utility's weighted average cost of capital during the period in which those costs were unrecovered. Provides that the utility's filing on its updated cost inputs to the performance-based formula rate shall include a reconciliation of the revenue requirement in effect for the prior rate year (as set by the cost inputs for the prior rate year) with the actual revenue requirement for the prior rate year (determined using a year-end rate base) that uses amounts reflected in the applicable FERC Form 1 that reports actual costs for the prior rate year. States that the changes are intended to: be a restatement and clarification of existing law; give binding effect to certain legislative actions; and preempt and supersede certain final orders of the Commission. Provides that each participating utility is deemed to have been in full compliance with specified requirements and all Commission orders entered under specified provisions. Provides that the Commission shall not undertake any investigation of such compliance and no penalty shall be assessed or adverse action taken against a participating utility for noncompliance with Commission orders associated with the Act. Makes other changes. Effective immediately.