MO HB120

Repeals and replaces sections 393.1000 and 393.1003 of Missouri law regarding infrastructure system replacement surcharges (ISRS) for water corporations.

Expands the definition of "eligible infrastructure system replacements" to include energy efficiency projects that are in service, used and useful, do not connect to new customers, and were not included in the most recent general rate case.

Allows water corporations to file for ISRS rate schedules that must produce revenues of at least $1 million but not exceeding 10% of the corporation's base revenue level, with changes effective August 28, 2012.

Requires water corporations to have had a general rate proceeding decided within the past three years before the commission can approve an ISRS, unless a new general rate proceeding is pending.

Limits ISRS collection periods to three years unless the water corporation files for or is subject to a new general rate proceeding.