Synopsis As Introduced Amends the Public Utilities Act. Modifies the definition of "water or sewer utility" to remove language specifying water or sewer service provided to 7,500 or fewer customer connections as provided by certain entities. Provides that appraisals of the fair market value of the water or sewer utility that is being acquired shall be performed by 3 appraisers approved (rather than selected) by the Illinois Commerce Commission's Executive Director or designee (rather than the water department manager) and engaged by either the water or sewer utility being acquired or by the large public utility. Allows appraisers to engage one disinterested engineer who is licensed in this State who may be the same engineer that is engaged by other appraisers. Provides that in the Commission's order that approves the large public utility's acquisition of the water or sewer utility, the Commission shall issue its decision establishing, among other requirements, the rates to be charged to customers in the water or sewer utility. Provides that a large public utility may (rather than shall) recommend the district or tariff group of which the water or sewer utility shall become a part of after the acquisition, or may recommend a lesser rate for the water or sewer utility. Provides that from the date of acquisition until the date that new rates are effective in an acquiring large public utility's next rate case, the customers of the acquired water or sewer utility shall pay the approved then-existing rates of the district or tariff group as ordered by the Commission, or some lesser rates as recommended by the large public utility and approved by the Commission. Provides that in an acquiring large public utility's 2 rate cases following an acquisition, the public utility may file a rate tariff for an acquired water or sewer utility that establishes lesser rates than the district or tariff group into which the water or sewer utility is combined. Extends the repeal date of the valuation of water and sewer utilities Section from June 1, 2018 to June 1, 2028. Makes conforming changes. Effective immediately.