IN SB0548

Replaces the Distribution System Improvement Charge (DSIC) with a new Utility System Improvement Charge (USIC) that applies to both water and wastewater utilities, allowing recovery of infrastructure improvement costs

Increases the revenue cap for USIC from 5% to 10% of a utility's base revenue level and allows utilities to petition for rate changes every 3 months instead of every 12 months

Prohibits municipalities from purchasing or condemning water or sewer utility property unless the Indiana Utility Regulatory Commission finds the utility has continued violations of orders or severe unaddressed deficiencies

Requires municipalities seeking to acquire or establish a utility where a public utility already operates to submit the question to voters as a public referendum before proceeding

Allows utilities to file a court action within 30 days of a municipality's ordinance to challenge the public convenience and necessity determination, with the court staying municipal action pending resolution