Bill Summary for H 351 (2017-2018)

Summary date: 

Apr 26 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
House Bill 351 (Public) Filed Tuesday, March 14, 2017
AN ACT AUTHORIZING WATER AND WASTEWATER PUBLIC UTILITIES TO ELECT TO USE A FAIR VALUE DETERMINATION FOR RATE-MAKING PURPOSES WHEN ACQUIRING UTILITIES OWNED BY COUNTIES, MUNICIPALITIES, OR OTHER GOVERNMENTAL ENTITIES.
Intro. by Watford, Collins.

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Bill summary

House amendment #1 makes the following changes to the 2nd edition.

Amends subsection (b) of proposed GS 62-133.1A, concerning determination of fair value for government owned water and wastewater systems. Modifies subdivision (3) to now provide that reasonable fees, as determined by the Utilities Commission (previously, fees alternatively limited to no more than 5% of the fair value of the utility being sold), paid to utility valuation experts can be included in the cost of the acquired system in addition to reasonable transaction and closing costs incurred by the acquiring public utility.

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