Full Text of SB1093 100th General Assembly
SB1093sam001 100TH GENERAL ASSEMBLY | Sen. Chuck Weaver Filed: 5/9/2017
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| 1 | | AMENDMENT TO SENATE BILL 1093
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1093 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Public Utilities Act is amended by adding | 5 | | Section 5-119 as follows: | 6 | | (220 ILCS 5/5-119 new) | 7 | | Sec. 5-119. Prevent unfairness in pricing of water assets | 8 | | acquired by governmental purchasers. | 9 | | (a) In this Section: | 10 | | "Illinois governmental purchaser" means the State of | 11 | | Illinois, any State agency, department, or division, or any | 12 | | municipality, county, city, township, water district, or other | 13 | | body politic or political subdivision of the State of Illinois. | 14 | | "Water assets" means a water utility or water distribution | 15 | | company or any of its assets, facilities, piping, pumping and | 16 | | lift stations, water sources and rights, real estate, |
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| 1 | | easements, intangibles, franchises, or other properties. | 2 | | (b) In determining the value or price for the purchase or | 3 | | acquisition of water assets by an Illinois governmental | 4 | | purchaser, whether in an eminent domain proceeding or any other | 5 | | exercise of a right possessed by an Illinois governmental | 6 | | purchaser to purchase or acquire water assets (by contract or | 7 | | statute), the determination of value or price to be paid for | 8 | | the water assets: | 9 | | (1) may not distinguish, penalize, or increase the | 10 | | value or price to be paid by an Illinois governmental | 11 | | purchaser for the purchase or acquisition of water assets | 12 | | because the purchaser or acquirer: is an Illinois | 13 | | governmental purchaser or public body; does not pay income, | 14 | | property, or other taxes; has or may have taxing or | 15 | | ratemaking authority; or has other supposed or real | 16 | | advantages as an Illinois governmental purchaser over a | 17 | | private purchaser; or | 18 | | (2) may not use as a factor any excess of replacement | 19 | | cost new minus depreciation over the value or price based | 20 | | on fair market value of the water assets to be acquired or | 21 | | purchased, as determined by what a willing buyer in the | 22 | | private sector would value, price, or pay for the water | 23 | | assets. | 24 | | (c) The intent of paragraphs (1) and (2) of subsection (b) | 25 | | is to put an Illinois governmental purchaser on equal footing | 26 | | for valuation and price determination purposes with private |
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| 1 | | purchasers in a free and open marketplace with respect to | 2 | | determining values or prices to be paid for water assets and | 3 | | actual valuing, pricing, and purchasing water assets. | 4 | | (d) This Section shall apply to all valuations or price | 5 | | determinations made or to be made or determined after the | 6 | | effective date of this amendatory Act of the 100th General | 7 | | Assembly, except: (1) in the case of paragraph (1) of | 8 | | subsection (b), for contracts already in place on the effective | 9 | | date of this amendatory Act of the 100th General Assembly that | 10 | | expressly require or provide that the value of the water assets | 11 | | be priced or valued on a basis that takes into account that the | 12 | | benefits of the purchaser as a public body over or as opposed | 13 | | to a private body; and (2) in the case of paragraph (2) of | 14 | | subsection (b), for contracts already in place on the effective | 15 | | date of this amendatory Act of the 100th General Assembly that | 16 | | expressly require or provide that the value or price to be paid | 17 | | for water assets may or must take into account the replacement | 18 | | cost new minus depreciation of the water assets to be valued or | 19 | | priced, even though such cost is in excess of a fair market | 20 | | price that a private purchaser would value, price, or pay for | 21 | | such assets.
| 22 | | Section 97. Severability. The provisions of this Act are | 23 | | severable under Section 1.31 of the Statute on Statutes. | 24 | | Section 99. Effective date. This Act takes effect upon |
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| 1 | | becoming law.".
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