SB 862 - This act modifies provisions relating to infrastructure system replacement surcharges for water corporations. This act defines "base revenues" and modifies the definitions of "eligible infrastructure system replacements," "water corporation," and "water or sewer utility plant projects."
Currently, only water corporations located within St. Louis County may file a petition with the Public Service Commission to establish or change an infrastructure system replacement surcharge. This act extends the ability to establish or change an infrastructure system replacement surcharge (ISRS) to any water corporation with more than 10,000 customers, provided that the ISRS produces annualized revenues of at least $1 million but not in excess of 10% of the water corporation's base revenue level. This act is intended for the purpose of replacing aging water and sewer infrastructure.
This act is substantially similar to HB 1358 (2014).