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House Bill 1174


 

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House Bill 1174

ARCHIVE (2013)

Latest Information

 
DIGEST OF INTRODUCED BILL

Municipal utility funds and economic development. Allows the board of a municipally owned utility to approve or recommend a transfer of all or part of the utility's surplus earnings from the utility's cash reserve fund to: (1) the municipality's general fund; or (2) a local economic development organization to benefit or promote the municipality, the utility's service area, or the county or region in which the municipality or the utility's service area is located. (Current law allows for a transfer of the utility's surplus earnings only to the municipality's general fund.) Provides that rates and charges in lieu of taxes incorporated into a municipally owned utility's rates and charges may be transferred to: (1) the municipal general fund; or (2) if the cash revenue requirements of the utility have been met, the utility's cash reserve fund. (Current law allows for a transfer of rates and charges in lieu of taxes only to the municipality's general fund.) Provides that a municipality that seeks to make a transfer from the municipally owned utility's cash reserve fund to a local economic development organization may not impose a special rate, charge, surcharge, or other fee on the customers of the utility in order to pay for the transfer. Authorizes the state board of accounts to adopt rules, including emergency rules, to implement these provisions.
Current Status:
 In Committee - first House
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