SC H4386

Requires the Public Service Commission to consider fair market value when evaluating a public utility's application to acquire water or sewer property from a county, municipality, or special purpose district

Mandates two independent appraisals from utility-valuation experts mutually selected by the buyer and seller, with the Office of Regulatory Staff optionally providing a third appraisal; fair market value is calculated as the average of all submitted appraisals

Sets strict timelines: public hearing must begin 60-90 days after application receipt, and the Commission must issue a decision within 180 days of receiving a complete application

Allows the purchase price or fair market value (whichever is less) to be added to the utility's rate base in its next rate case, provided the Commission finds the acquisition is in the public interest and costs are just and reasonable

Permits either party to decline to proceed with the acquisition at any point in the process