House Bill 2632 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: 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 for a term determined by the council, not exceeding their own term in office.

Additionally, the new subsection (c) addresses compensation, stating that the compensation for citizen members will be set by the city council through ordinance, while city council members will not receive extra compensation for their board service. The bill also clarifies that it will not remove any current officeholders or shorten their terms and requires a two-thirds vote from the legislative body of Shelbyville for it to take effect. The act will be effective upon becoming law for the purpose of approval or rejection, while other provisions will take effect as specified in the bill.