FL S0658

Requires municipalities operating water or sewer utilities in other recipient municipalities to charge customers the same rates, fees, and charges as they charge customers within their own municipal boundaries.

Allows water and wastewater utilities acquiring existing utility systems to establish rate base values using fair market value instead of original cost, determined by averaging two independent licensed appraisals.

Requires fair market value appraisals to use the Uniform Standards of Professional Appraisal Practice and employ cost, market, and income approaches, with rate base value equal to the lesser of the purchase price or fair market value.

Mandates that acquiring utilities include in applications to the Public Service Commission the appraisals, engineering assessments, deficiency reports, 3-year improvement plans, 5-year rate projections, and contract of sale.

Requires the Public Service Commission to issue a final order approving or denying acquisition applications within 8 months, with the provision applying only to utilities serving more than 10,000 customers engaged in voluntary acquisitions.