MO HB788

Repeals and rewrites section 393.190 of Missouri law regarding Public Service Commission approval for disposition of water and sewer utilities.

Requires Public Service Commission authorization before any gas, electrical, water, or sewer corporation can sell, transfer, lease, mortgage, merge, or consolidate its franchise, works, or system.

Mandates applicants seeking approval for such transactions file statements detailing impact on tax revenues of affected political subdivisions, with copies sent to relevant county clerks.

Prohibits any person, public utility, or corporation from acquiring 50% or more of total capital stock of a water or sewer corporation serving 8,000 or fewer customers without Public Service Commission consent.

Voids any stock transfers, contracts, or assignments that violate the chapter's provisions and prohibits recognition of such transfers on corporate books.