HB 1417 IN

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Became Law

Amends the Indiana Code provision concerning a system of accounting for public utilities to provide the following: (1) That a public utility, municipally owned utility, or not-for-profit utility may defer for consideration by the Indiana utility regulatory commission (IURC) and for future recovery costs incurred or to be incurred in a regulatory asset, to the extent that the specific costs are incremental and are not otherwise already included for recovery in the utility's rates. (2) That preapproval of the IURC is not required for the creation of a regulatory asset. (3) That a public utility, municipally owned utility, or not-for-profit utility may recover through the utility's rates over a reasonable period, as determined by the IURC, costs that are: (A) deferred under these provisions; and (B) found to be reasonable and prudent by the IURC. Amends the Indiana Code provision concerning a public utility's depreciation account and depreciation rates to provide the following: (1) That depreciation rates shall be calculated to recover a reasonable estimate of the future cost of removing retired assets of the public utility. (2) That in a proceeding in which the costs of a capital asset are being recognized for ratemaking purposes, a public utility may account for any asset retirement obligations and recover, through rates charged to customers, reasonably and prudently incurred costs associated with asset retirement obligations, to the extent the specific asset retirement obligation costs are incremental and have not been included in depreciation rates. (3) That the IURC shall make changes in a public utility's depreciation rates as necessary to reflect changes in: (A) the public utility's estimated asset retirement costs, including all reasonable and prudent costs of removing retired assets; and (B) the estimated retirement dates of the public utility's assets. Amends the Indiana Code chapter concerning federally mandated requirements for energy utilities to specify that recovery of the 80% of IURC-approved federally mandated costs that an energy utility may recover through a rate adjustment mechanism must commence no earlier than: (A) the date of a final agency action regarding the federally mandated requirement; or (B) in the absence of a final agency action, the date on which the federally mandated requirement becomes effective.

• Edmond Soliday Republican · author
• Eric Koch Republican · sponsor
• Chip Perfect · sponsor

1. Jan 17, 2023 Authored by Representative Soliday · lower
2. Jan 17, 2023 First reading: referred to Committee on Utilities, Energy and Telecommunications · lower
3. Feb 7, 2023 Representative Frye added as coauthor · lower
4. Feb 9, 2023 Committee report: amend do pass, adopted · lower
5. Feb 14, 2023 Amendment #1 (Soliday) prevailed; voice vote · lower
6. Feb 14, 2023 Second reading: amended, ordered engrossed · lower
7. Feb 20, 2023 Senate sponsor: Senator Koch · lower
8. Feb 20, 2023 Third reading: passed; Roll Call 165: yeas 68, nays 28 · lower
9. Feb 21, 2023 Referred to the Senate · lower
10. Mar 1, 2023 First reading: referred to Committee on Utilities · upper
11. Mar 23, 2023 Committee report: do pass, adopted · upper
12. Mar 28, 2023 Amendment #1 (Yoder) failed; voice vote · upper
13. Mar 28, 2023 Second reading: ordered engrossed · upper
14. Mar 28, 2023 Senator Perfect added as second sponsor · upper
15. Apr 3, 2023 Third reading: passed; Roll Call 293: yeas 33, nays 15 · upper
16. Apr 4, 2023 Returned to the House without amendments · upper
17. Apr 11, 2023 Signed by the Speaker · lower
18. Apr 13, 2023 Signed by the President Pro Tempore · upper
19. Apr 17, 2023 Signed by the President of the Senate · upper
20. Apr 20, 2023 Public Law 81 · lower
21. Apr 20, 2023 Signed by the Governor · executive

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled House Bill (H) · Apr 4, 2023 · PDF
• Introduced House Bill (H) · Jan 17, 2023 · PDF
• House Bill (H) · Feb 9, 2023 · PDF
• Engrossed House Bill (H) · Feb 14, 2023 · PDF
• House Bill (S) · Mar 23, 2023 · PDF