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92_SB2081
LRB9212879JSpc
1 AN ACT concerning public utilities.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Public Utilities Act is amended by adding
5 Section 16-111.3 as follows:
6 (220 ILCS 5/16-111.3 new)
7 Sec. 16-111.3. Rate index components. At such time as
8 the Board of Governors of the Federal Reserve System ceases
9 to include the monthly average yields of 30-year U.S.
10 Treasury bonds in its weekly H.15 Statistical Release or
11 successor publication, then electric utilities shall
12 substitute the monthly average yields of 10-year U.S.
13 Treasury bonds published by the Board of Governors of the
14 Federal Reserve System in its weekly H.15 Statistical release
15 or successor publication for the purpose of calculating the
16 Index defined in subsection (e) of Section 16-111 of this Act
17 and, when using the monthly average yields of 10-year U.S.
18 Treasury bonds in lieu of the monthly average yields of
19 30-year U.S. Treasury bonds as authorized by this Section,
20 shall add an additional 0.5 percentage points to the
21 percentage points that are identified in subsection (e) of
22 Section 16-111 and used in calculating the Index. An
23 electric utility shall also remove the effects, if any, of
24 the implementation of Statement of Financial Accounting
25 Standards No. 142, which was issued in June, 2001, when
26 making the calculations required by this Section.
27 Section 99. Effective date. This Act takes effect upon
28 becoming law.