Bill Title: Amends the Illinois Municipal Code. Provides that in certain eminent domain proceedings the fair cash market value of waterworks and sewerage system facilities is the depreciated value of the land and easements upon which the facilities are situated and all facilities and fixtures constructed or installed by the utility company (rather than the net earnings attributable to those facilities). Requires the acquiring municipality to reimburse the utility company for payments made by the utility in connection with the dedication or donation of any waterworks or sewerage system to the utility company.

Spectrum: Slight Partisan Bill (Republican 5-2)

Status: (Introduced - Dead) 2010-03-26 - Rule 19(a) / Re-referred to Rules Committee [HB5485 Detail]

Text: Latest bill text (Introduced) [HTML]

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