IN HB1159

Repeals IC 4-4-11.6-2.5 defining "business day" and IC 4-4-11.6-10.5 defining "savings" related to substitute natural gas (SNG) purchase contracts.

Repeals IC 4-4-11.6-14.5 which established the process for the utility regulatory commission to approve, reject, or modify SNG purchase contracts based on specific public interest criteria including price volatility mitigation and customer savings at designated intervals.

Removes certain legislative findings related to SNG, including findings about realizing savings at intervals during contract terms and legislative power to amend existing laws.

Amends IC 4-4-11.6-14 to eliminate the requirement that amendments, addenda, or other modifications to SNG purchase contracts be submitted to the commission for approval, while keeping initial contract submission requirements.

Takes effect upon passage and declares an emergency for the act.