This bill amends Title 66 of the Pennsylvania Consolidated Statutes, specifically focusing on the valuation of acquired water and wastewater systems. It modifies Section 1329(b)(3) to change how fees for utility valuation experts are determined and approved. The previous provision, which allowed fees not exceeding 5% of the fair market value of the selling utility or a fee approved by the commission, has been deleted. In its place, the new language stipulates that fees shall be based on an hourly rate deemed reasonable by the commission, and requires utility valuation experts to submit supporting documentation for each hour billed.

Additionally, the bill mandates that the total fees due and the accompanying documentation must be reviewed and approved by the commission before any disbursal of fees to the utility valuation expert. The total billed amount is still capped at 5% of the fair market value of the selling utility, ensuring that while the method of calculating fees has changed, the overall limit remains the same. The act is set to take effect 60 days after its passage.

Statutes/Laws affected:
Printer's No. 1011 (Mar 17, 2025): 66-1329(b)(3)
Printer's No. 1011: 66-1329(b)(3)