IL SB0164

Amends the Public Utilities Act to require a referendum for large public utilities acquiring water or sewer utilities owned by the State or a political subdivision, rather than only requiring a public meeting and newspaper notice.

Referendum must be placed on the ballot at the next election following the public meeting and notice; acquisition may proceed only if a majority of electors in the service area vote in favor.

Establishes detailed procedures for valuing acquired utilities through three independent appraisals by State-certified real estate appraisers, with the average representing fair market value.

Limits appraiser fees to the greater of $15,000 or 5% of appraised value and requires the lesser of purchase price or appraised value to constitute the rate base.

Takes effect immediately upon becoming law and applies exclusively to voluntary acquisitions of water and sewer utilities by large public utilities regulated by the Illinois Commerce Commission.