Sec. 5.5. As used in this chapter, “infrastructure improvement costs” means the following:

(1) For a public utility:

(A) depreciation expenses;

(B) property taxes to be paid by the public utility based upon the first assessment date following placement in service; and

(C) pretax return;

associated with eligible infrastructure improvements.

(2) The following for a municipally owned utility:

(A) Depreciation expenses.

(B) Adequate money for making extensions and replacements of eligible infrastructure improvements to the extent not provided for through depreciation, as provided in IC 8-1.5-3-8(c).

(C) Debt service on funds borrowed to pay for eligible infrastructure improvements.

(D) To the extent applicable, property taxes to be paid by the municipally owned utility based upon the first assessment date following placement in service of eligible infrastructure improvements.

(3) The following for a not-for-profit utility:

(A) Debt service on funds borrowed to pay for eligible infrastructure improvements.

(B) Adequate money for making extensions and replacements of eligible infrastructure improvements.

(C) To the extent applicable, property taxes to be paid by the not-for-profit utility based upon the first assessment date following placement in service of eligible infrastructure improvements.

As added by P.L.209-2014, SEC.7. Amended by P.L.212-2015, SEC.4; P.L.61-2022, SEC.5.

   Sec. 5. As used in this chapter, “authorized revenues” means the annual operating revenues of an eligible utility approved by the commission for a twelve (12) month period in the eligible utility’s most recent general rate case.

As added by P.L.104-2016, SEC.3.