Senate Bill 2694 amends Chapter 62 of the Private Acts of 2016, as previously amended by Chapter 40 of the Private Acts of 2020, specifically regarding the governance structure of the Shelbyville Power, Water and Sewerage System. The bill modifies Section 17-3 by deleting subsections (a) and (c) and replacing them with new provisions. The revised subsection (a) establishes that the board will consist of seven members, including five citizen members appointed by the city council for staggered three-year terms, and two city council members. The appointment process for citizen members is outlined to ensure continuity, with specific appointments scheduled for 2016, 2017, and 2018, and the city council members will serve terms determined by the council, not exceeding their elected terms.

Additionally, the new subsection (c) addresses compensation, stating that the compensation for citizen members will be set by city council ordinance, while city council members will not receive extra compensation for their board service. The bill also includes provisions ensuring that no current officeholder will be removed or have their term abridged due to this act. For the bill to take effect, it requires a two-thirds vote from the legislative body of the City of Shelbyville, with its approval or disapproval to be certified to the secretary of state. The act will be effective upon becoming law for the purpose of approval, while other provisions will take effect as specified.