MO HB1488

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

Redefines the Public Counsel's representation scope to focus specifically on residential, small commercial and industrial, and agricultural customers, rather than the general public.

Creates a new "Public Counsel Fund" financed by assessments on public utilities (capped at three hundredths of one percent), with a separate allocation mechanism based on utility group revenues.

Limits telephone corporation assessments to the Public Counsel to no more than three percent of total public counsel expenses.

Requires the Public Service Commission to issue temporary rate adjustments (in addition to permanent adjustments) with interest to refund overcollected revenues or recover undercollected amounts over a one-year period when rate cases conclude.