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| | HB1288 Engrossed | | LRB097 09165 ASK 49300 b |
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| 1 | | AN ACT concerning public utilities.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Public Utilities Act is amended by adding |
| 5 | | Section 9-201.1 as follows:
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| 6 | | (220 ILCS 5/9-201.1 new) |
| 7 | | Sec. 9-201.1. Change in tax rate for gross receipt taxes, |
| 8 | | federal income taxes, and State income taxes. |
| 9 | | (a) A water or sewer utility may file a petition with the |
| 10 | | Commission to update any gross receipts tax rate set forth in |
| 11 | | Section 2-202 of this Act, federal income tax rate, or State |
| 12 | | income tax rate embedded in a water or sewer utility's base |
| 13 | | rates for a change in the tax rate if, from the date of filing, |
| 14 | | the utility had received a rate order from the Commission in |
| 15 | | the previous 24 months. The Commission shall review and by |
| 16 | | order approve, or approve as modified, the change in base rates |
| 17 | | within 180 days after the date on which the proceeding is |
| 18 | | initiated. |
| 19 | | (b) The Commission may also initiate a proceeding to update |
| 20 | | any gross receipts tax rate set forth in Section 2-202 of this |
| 21 | | Act, federal income tax rate, or State income tax rate embedded |
| 22 | | in a water or sewer utility's base rates for a change in the |
| 23 | | tax rate if the utility had received a rate order from the |