The proposed bill aims to amend the Code of West Virginia by establishing a new article, 24-2J-1, which mandates that all public and private utility systems that receive rate increases must allocate 5% of the additional funds into an "infrastructure improvement" fund. This fund is specifically designated for repairs and improvements to physical utility infrastructure, such as water lines, electrical transmission lines, treatment facilities, and power generation substations. The bill outlines that these funds cannot be used for routine maintenance and can only be utilized for new infrastructure improvement projects.

Additionally, the bill prohibits utilities from passing the costs associated with this fund onto consumers through any fees or future rate increases. This measure is intended to ensure that the financial benefits of rate increases are directly invested back into the utility infrastructure, thereby enhancing service reliability and safety for consumers.

Statutes affected:
Introduced Version: 24-2J-1