96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB5485


 
Introduced 2/5/2010, by Rep. Renée Kosel
 
SYNOPSIS AS INTRODUCED:
 		





 








65 ILCS 5/11-139-12
  from Ch. 24, par. 11-139-12








     Amends the Illinois Municipal Code. Provides that in certain eminent domain proceedings the fair cash market value of waterworks and sewerage system facilities is the depreciated value of the land and easements upon which the facilities are situated and all facilities and fixtures constructed or installed by the utility company (rather than the net earnings attributable to those facilities). Requires the acquiring municipality to reimburse the utility company for payments made by the utility in connection with the dedication or donation of any waterworks or sewerage system to the utility company.
  















LRB096 16763 RLJ 32059 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 




  






HB5485

LRB096 16763 RLJ 32059 b





  
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    AN ACT concerning local government.
  
 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:
  
 
 
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    Section 5. The Illinois Municipal Code is amended  by 
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changing Section 11-139-12 as follows:
 



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    (65 ILCS 5/11-139-12)  (from Ch. 24, par. 11-139-12)



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    Sec. 11-139-12. For the purpose of acquiring, 
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constructing, extending, or
improving any combined waterworks 
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and sewerage system under this Division
139, or any property 
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necessary or appropriate therefor, any municipality
has the 
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right of eminent domain, as provided by the Eminent Domain Act.

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    The fair cash market value of an existing waterworks and 
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sewerage system,
or portion thereof, acquired under this 
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Division 139, which existing system
is a special use property,

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shall may be determined in accordance with the following 
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valuation  principles.

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    The fair cash market value of existing facilities, whether 
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real or
personal, shall be the depreciated value of the  land 
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and easements upon which the facilities are situated and all 
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facilities and fixtures constructed or installed by the utility 
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company. In addition, the acquiring municipality shall 
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reimburse the utility company for payments made by the utility 
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in connection with the dedication or donation of any waterworks 
 


 






HB5485
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LRB096 16763 RLJ 32059 b




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or sewerage system to the utility company. may be determined by  
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utilizing the net earnings which are attributable
to the 
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facilities in question for the preceding fiscal year on the 
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date the
condemnation petition is filed,
over the remaining 
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useful life of the facilities.  Said earnings may be
capitalized 
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under an annuity capitalization method and discounted to 
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present
value.  The fair cash market value of any extensions, 
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additions or improvements
of the existing system made 
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subsequent to the date that the condemnation
petition is filed 
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may be determined by utilizing the probable net earnings

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attributable to the facilities in question over the
remaining 
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life of the facilities.  The probable earnings may be 
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capitalized
under an annuity capitalization method and 
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discounted to present value.

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    The value of the land and easements upon which the 
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facilities are situated
may be determined in accordance with 
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the foregoing principles, giving
due account to the special use 
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of the property for water and sewerage purposes.

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    For the purposes of this Section no prior approval of the 
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Illinois Commerce
Commission, or any other body having 
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jurisdiction over the existing system,
shall be required.

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(Source: P.A. 94-1055, eff. 1-1-07.)