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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | June 5, 2023 10:52 AM |
|---|---|
| From: | Representative Leanne Krueger |
| To: | All House members |
| Subject: | Co-Sponsorship: Acquisitions of Distressed Water and Wastewater Systems |
| The occurrences of water systems and wastewater systems mergers and acquisitions have increased since 2021 leaving in the wake of these mergers and acquisitions, lingering concerns over infrastructure, increased rates for the consumer, and long-term sustainability. To address these concerns, in the coming days, I plan to introduce legislation that addresses the acquisitions of distressed water and wastewater systems by private companies. My legislation will amend Title 66, Section 1329 of the Public Utilities Law to prohibit the use of Section 1329 for the sale of municipal or authority owned water or wastewater systems to private companies using the valuation procedure outlined in the section unless the system is in financial and/or operational distress. During a hearing on this topic held back in 2021, the Consumer Advocate testified that Section 1329 sales always drive up rates for customers of those systems. To protect ratepayers, those sales should be limited to systems that truly need outside help to meet financial or operational safety best practices. To that end, I thank you for your consideration of this important issue and urge you to join me by adding your name as a co-sponsor. If you have any questions, please do not hesitate to contact Takesha Latham in my Harrisburg office via email at Tlatham@pahouse.net. |
Introduced as HB1308
Memo Updated: June 5, 2023 10:54 AM