Bill Summary for H 351 (2017-2018)
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Summary date:
Apr 26 2017
S.L. 2018-51
Bill Information:
| View NCGA Bill Details | 2017-2018 Session |
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.