SC S0656

Requires the Public Service Commission to consider fair market value when evaluating applications for public utilities to acquire water or sewerage assets from counties, municipalities, or special purpose districts

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 determined by averaging all submitted appraisals

Prohibits the commission from considering the original funding source of tangible assets when determining property value

Sets timeline requirements: public hearing must occur 60-90 days after application receipt, with final order issued within 180 days of a complete application

Allows the lower of purchase price or fair market value to enter the public utility's rate base in its next rate case, subject to commission finding that the acquisition is in the public interest and costs are just and reasonable