Bill Text: IL HB5485 | 2009-2010 | 96th General Assembly | Introduced

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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]

Download: Illinois-2009-HB5485-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB5485 Introduced 2/5/2010, by Rep. Renée Kosel SYNOPSIS AS INTRODUCED:
65 ILCS 5/11-139-12 from Ch. 24, par. 11-139-12
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.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning local government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Municipal Code is amended by
changing Section 11-139-12 as follows:
(65 ILCS 5/11-139-12) (from Ch. 24, par. 11-139-12)
Sec. 11-139-12. For the purpose of acquiring,
constructing, extending, or improving any combined waterworks
and sewerage system under this Division 139, or any property
necessary or appropriate therefor, any municipality has the
right of eminent domain, as provided by the Eminent Domain Act.
The fair cash market value of an existing waterworks and
sewerage system, or portion thereof, acquired under this
Division 139, which existing system is a special use property,
shall may be determined in accordance with the following
valuation principles.
The fair cash market value of existing facilities, whether
real or personal, shall be 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. In addition, the acquiring municipality shall
reimburse the utility company for payments made by the utility
in connection with the dedication or donation of any waterworks

HB5485 - 2 - LRB096 16763 RLJ 32059 b
or sewerage system to the utility company. may be determined by
utilizing the net earnings which are attributable to the
facilities in question for the preceding fiscal year on the
date the condemnation petition is filed, over the remaining
useful life of the facilities. Said earnings may be capitalized
under an annuity capitalization method and discounted to
present value. The fair cash market value of any extensions,
additions or improvements of the existing system made
subsequent to the date that the condemnation petition is filed
may be determined by utilizing the probable net earnings
attributable to the facilities in question over the remaining
life of the facilities. The probable earnings may be
capitalized under an annuity capitalization method and
discounted to present value.
The value of the land and easements upon which the
facilities are situated may be determined in accordance with
the foregoing principles, giving due account to the special use
of the property for water and sewerage purposes.
For the purposes of this Section no prior approval of the
Illinois Commerce Commission, or any other body having
jurisdiction over the existing system, shall be required.
(Source: P.A. 94-1055, eff. 1-1-07.)