IL HB0463

Amends the Public Utilities Act to add Section 5-119 governing pricing of water assets purchased by Illinois governmental entities, including the state, agencies, municipalities, counties, water districts, and other political subdivisions.

Prohibits valuation or pricing of water assets from distinguishing against or penalizing Illinois governmental purchasers based on their tax-exempt status, lack of income or property tax payments, taxing authority, ratemaking authority, or other supposed advantages over private purchasers.

Prohibits using replacement cost new minus depreciation as a valuation factor if that amount exceeds the fair market value that a willing private sector buyer would pay for the water assets.

Applies to all valuations made after the bill's effective date, with exceptions for existing contracts that expressly require pricing adjustments based on public body benefits or replacement cost methodologies.

Contains a severability clause and takes effect immediately upon becoming law.