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92_SB2081eng
SB2081 Engrossed LRB9212879JSpc
1 AN ACT concerning public utilities.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Public Utilities Act is amended by adding
5 Section 16-111.3 as follows:
6 (220 ILCS 5/16-111.3 new)
7 Sec. 16-111.3. Transition period earnings calculations.
8 At such time as the Board of Governors of the Federal Reserve
9 System ceases to include the monthly average yields of
10 30-year U.S. Treasury bonds in its weekly H.15 Statistical
11 Release or successor publication, the Monthly Treasury
12 Long-Term Average Rates (25 years and above) published by the
13 Board of Governors of the Federal Reserve System in its
14 weekly H.15 Statistical Release or successor publication
15 shall instead be used to establish a rate for the purpose of
16 calculating the Index defined in subsection (e) of Section
17 16-111 of this Act, and at such time, such Monthly Treasury
18 Long-Term Average Rates (25 years and above) shall also be
19 used in place of the monthly average yields of 30-year U.S.
20 Treasury bonds in the rate of return calculation required by
21 subsection (d) of Section 16-111. An electric utility shall
22 also remove the effects, if any, of the application of
23 Statement of Financial Accounting Standards No. 142, which
24 was issued in June 2001, when making the calculations
25 required by this Section or by subsections (d) and (e) of
26 Section 16-111.
27 Section 99. Effective date. This Act takes effect upon
28 becoming law.
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