Bills › 90th General Assembly
Relating to the acquisition of water, sanitary sewer, and storm water utilities by rate-regulated public utilities
Sponsored by the Senate Commerce Committee
Where it is now
- Done: IntroducedJanuary 18, 2023
- Done: SubcommitteeJanuary 31, 2023
- Done: Senate committeeFebruary 27, 2023
- Done: Passes the SenateFebruary 26, 202446–0
- Skipped: House committeeSkipped
- Done: Passes the HouseFebruary 19, 202491–0
- Done: To the GovernorApril 10, 2024
- Done: Signed into lawApril 10, 2024
HF 2101 became law → The same legislation passed as HF 2101, so this version was set aside. Go to HF 2101 What’s a funnel?
What’s in it
This bill relates to the acquisition of water, sanitary sewer, and storm water utilities by rate-regulated public utilities. The bill increases the threshold amount requiring utilities board (board) approval from $500,000 to $3 million when a public utility is acquiring a water, sanitary sewer, or storm water utility. The bill modifies city utility acquisition to include that the city must first certify completion of certain requirements, including an appraisal for the fair market value of the utility system, discussion of alternatives of the sale of the utility system, and a city council proposal for the sale.
Read the full explanation
A certified completion shall include an affirmation that the city has complied timely and substantially to the acquisition. Current law requires that the city meets the requirements, but the city does not need to certify compliance. The bill provides that the rate base in the final order approving an acquisition shall include reasonable and customary closing costs, the cost of appraisals, and regulatory and legal expenses incurred in connection with the acquisition. The bill requires the public utility to submit a purchase agreement for the acquisition to the board to determine ratemaking principles. Purchase agreements must substantially comply with certain requirements. The bill provides that the board shall issue a final order within 120 days of the filing of an application for the acquisition of an at-risk utility system, or an order within 180 days for all other acquisitions. Current law provides that the board shall issue a final order within 120 days of filing the application for a utility that is an at-risk system.
Senate subcommittee
Named January 31, 2023 (as SSB 1097). On February 22, 2023 it recommended amendment and passage. [].
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Amends§476.84
Lobbying
3 for · 1 against · 16 undecided · Who →