HB2863: UTILITY ACQUISITION NOTICE

Legislative Summary

Amends the Public Utilities Act. Provides that a water or sewer utility owned by the State or any political subdivision thereof and being acquired by a large public utility must inform the public of the terms of its acquisition by the large public utility by holding a public meeting prior to the acquisition and causing to be published, in a newspaper of general circulation in the area that the water or sewer utility operates, information about the public meeting being held prior to the acquisition, the terms of the water or sewer utility's acquisition by the large public utility, and options that shall be available to assist customers to pay their bills after the acquisition. Provides that the water or sewer utility being acquired shall provide a notice 30 days prior to the public meeting to customers who will be affected by the acquisition. Provides that the notice shall be sent to the customers in the same manner as the customers' monthly bills, either by mail or electronically, but shall be delivered on a page separate from the bill itself and written in no less than 12-point font. Provides that the notice shall include (i) information about the public meeting being held prior to the acquisition, (ii) information on the public body that will make the decision regarding the sale of the water or sewer utility, and (iii) if available, an estimate of the capital investment needs of the water or sewer utility being acquired and a statement stating that customer rates may change in the future due to the capital investment needs.