Modifies and creates new provisions relating to utilities

HB 748 establishes a funding mechanism for two utility regulatory entities: the Public Service Commission and the Office of the Public Counsel. It requires regulated utilities (including electric, gas, water, sewer, and telecommunications companies) to pay annual fees based on their gross intrastate revenue, capped at 0.315% of total utility revenue for the Commission and 0.063% for the Public Counsel. These fees fund dedicated special accounts ("Public Service Commission Fund" and "Office of the Public Counsel Fund") that must cover only regulatory costs, with unspent funds rolling over annually to reduce future assessments. The bill directly affects all public utilities subject to the Commission’s jurisdiction by changing how regulatory costs are collected and allocated.