IL SB0075

Limits the rate base for water or sewer utility acquisitions by large public utilities to 20% of the lesser of the purchase price or fair market value, with shareholders of the acquiring utility bearing the remaining 80% of costs

Requires a voter referendum in the service area before a large public utility can acquire a water or sewer utility owned by the state or a political subdivision; acquisition cannot proceed if a majority of voters reject it

Removes the existing provision allowing water and sewer utilities to file surcharges for recovery of costs associated with qualifying infrastructure plant investments independent of other revenue requirements

Applies to investor-owned public utilities with more than 15,000 customer connections acquiring smaller water or sewer utilities with 6,000 or fewer connections, as well as water districts, townships, and municipal systems

Maintains existing requirements for three independent appraisals to determine fair market value and limits transaction costs that can be included in the rate base to 20%