UTILITY-EXPEDITED ACQUISITION

Amends the Public Utilities Act. In provisions concerning the valuation of water and sewer utilities, provides that a large public utility that acquires a water or sewer utility may recommend that the large public utility adopt the existing rates of the water or sewer utility. Provides that the contractor or subcontractor shall submit evidence of meeting the requirements to be a responsible bidder to the large public utility (rather than water or sewer utility). Provides that the provisions are repealed on June 30, 2038 (rather than June 1, 2028). Provides that a large public utility, in its application to acquire a water or sewer utility or any other application requesting approval of an acquisition of a water or sewer utility, may request that the Illinois Commerce Commission expedite its review and issue an order within an expedited timeframe. Provides that, if, in its application, a large public utility requests an expedited review, the Commission shall issue a ruling approving or denying expedited review within 30 days of the filing of the application if the large public utility provides ample evidence supporting the need for expedited review. Provides that the large public utility, in its application, shall establish evidence that the expedited review is necessary which may include certain factors. Provides that, upon granting expedited review, and subject to the Commission's rules on interlocutory review, the Commission shall issue its final order no later than 5 months after the date the expedited review was granted. Makes other changes. Effective immediately.