PA SB512

Repeals Section 1329 of Title 66 (Public Utilities) of the Pennsylvania Consolidated Statutes, which established the "fair market value" methodology for valuing municipal water and wastewater systems acquired by private utilities

Eliminates the process requiring two independent utility valuation experts to appraise selling utilities using cost, market, and income approaches under Uniform Standards of Professional Appraisal Practice

Removes provisions that allowed acquiring utilities to incorporate the fair market value (or negotiated purchase price, whichever is lower) into their rate base, potentially leading to higher customer rates

Takes effect 60 days after enactment