IN HB1174

Allows municipal utility boards to transfer surplus earnings from the utility's cash reserve fund to local economic development organizations, in addition to the municipality's general fund as currently permitted

Permits rates and charges collected in lieu of taxes to be transferred to either the municipal general fund or, if cash revenue requirements are met, to the utility's cash reserve fund

Prohibits municipalities from imposing special rates, charges, surcharges, or fees on utility customers to fund transfers to economic development organizations or cash reserve funds

Defines "local economic development organization" to include entities that coordinate efforts to attract jobs and business investment, assist existing businesses, and improve community quality of life

Authorizes the state board of accounts to adopt emergency rules to implement these provisions, with an effective date of July 1, 2013