Rep. Brandon W. Phelps
Filed: 3/13/2013
 
 

 

 

 
09800HB1379ham002LRB098 05850 CEL 42855 a



1
AMENDMENT TO HOUSE BILL 1379 




2    AMENDMENT NO. ______. Amend House Bill 1379, AS AMENDED, 
3with reference to page and line numbers of House Amendment No. 
41 as follows:


 
5on page 4, by replacing lines 12 through 25 with the following:
6    "(c) If a large public utility elects the procedures under 
7this Section to establish the rate base of a water or sewer 
8utility that it is acquiring, then 3 appraisals shall be 
9performed. The average of these 3 appraisals shall represent 
10the fair market value of the water or sewer utility that is 
11being acquired. The appraisals shall be performed by 3 
12appraisers selected by the Commission's water department 
13manager and engaged by either the water or sewer utility being 
14acquired or by the large public utility. The Commission's water 
15department manager shall select the appraisers within 30 days 
16after the water department manager is officially notified. Each 
17appraiser shall be engaged on reasonable terms approved by the 
 
 
09800HB1379ham002- 2 -LRB098 05850 CEL 42855 a

1Commission. Each appraiser shall be a disinterested person 
2licensed as a State certified general real estate appraiser 
3under the Real Estate Appraiser Licensing Act of 2002.
4    Each appraiser shall:"; and
 
5on page 6, by replacing line 9 with the following:
6    "(d) The lesser of (i) the purchase price or (ii) the fair 
7market value determined under subsection (c) of this Section".