MO HB1316

Changes the assessment cap for Public Service Commission regulatory expenses from one-fourth of one percent to twenty-three hundredths of one percent of total gross intrastate operating revenues of regulated utilities.

Creates a new "Public Counsel Fund" financed by assessments on public utilities (not to exceed four hundredths of one percent) to fund the Public Counsel's representation of public interests in utility matters, with allocations capped at three percent for telephone, eight percent for water, and fifteen percent for gas corporations.

Prohibits electrical corporations from charging ratepayers for construction-in-progress costs, but allows recovery of up to $45 million in prudently incurred costs for obtaining a Nuclear Regulatory Commission early site permit, recoverable over six years with interest.

Establishes a "Governor's Task Force on Electrical Generation Options" to review and report on generation alternatives including nuclear power options by September 30, 2012.

Declares the act an emergency measure to take effect immediately upon passage and approval.