IN HB1132

Replaces the "Distribution System Improvement Charge" (DSIC) terminology with "adjustment amount" and "infrastructure improvement costs" for water and wastewater utilities effective July 1, 2014.

Allows public utilities providing water or wastewater service to file petitions for automatic rate adjustments to recover infrastructure improvement costs, with the utility consumer counselor having 30 days to review and the commission having 60 days to approve.

Limits adjustment revenues to a maximum of 5% of the utility's base revenue level approved in its most recent general rate proceeding.

Requires utilities to reconcile actual adjustment revenues with infrastructure improvement costs annually and recover or refund differences through adjustment of the charge.

Prohibits utilities from filing infrastructure improvement petitions in the same calendar year they request a general rate increase, and specifies that approval of such petitions does not constitute a general increase in basic rates and charges.