IN SB0267

Expands infrastructure improvement cost recovery to public utilities providing water or wastewater service (previously limited to water service only) by allowing petition to the utility regulatory commission for rate adjustment.

Defines "adjustment amount" as the proposed rate increase and "adjustment revenues" as revenues generated through the approved adjustment, replacing prior distribution system improvement charge (DSIC) terminology.

Requires public utilities to annually reconcile the difference between adjustment revenues and actual infrastructure improvement costs, with recovery or refund of differences through rate adjustments.

Caps total adjustment revenues at 5% of the public utility's base revenue level approved in its most recent general rate proceeding.

Repeals definitions related to DSIC and makes conforming amendments to align terminology throughout Indiana Code Chapter 8-1-31; effective July 1, 2014.