MO SB862

Repeals and replaces sections 393.1000 and 393.1003, RSMo, relating to infrastructure system replacement surcharges (ISRS) for water corporations.

Changes the effective date of ISRS provisions from August 28, 2003, to August 28, 2014, and removes the geographic restriction limiting ISRS to counties with a charter form of government and more than one million inhabitants.

Expands the definition of eligible water or sewer utility plant projects to include collecting sewer pipelines, service lines, sewer cleaning and relining projects, and facilities relocations required due to public construction projects.

Requires ISRS revenues to be at least $1 million but not exceed 10 percent of the water corporation's base revenue level, and limits ISRS collection to three years unless a new general rate proceeding is filed.

Specifies that ISRS provisions apply only to water and sewer corporations and explicitly excludes application to electric corporations, natural gas corporations, or other public service commission-regulated utilities.