Section 393.1503 - DefinitionsAs used in sections 393.1500 to 393.1509, the following terms shall mean:
(1)"Appropriate pretax revenues", the revenues necessary to produce net operating income equal to:(a) The water or sewer corporation's pretax weighted cost of capital multiplied by the net original cost of eligible infrastructure system projects, including recognition of accumulated deferred income taxes and accumulated depreciation associated with eligible infrastructure system projects which are included in the petition to establish or change a WSIRA, plus accumulated deferred income taxes and accumulated depreciation associated with any eligible infrastructure system projects in a currently effective WSIRA implemented pursuant to sections 393.1506 and 393.1509;(b) The state, federal, and local income or excise taxes applicable to such revenues;(c) The depreciation expense applicable to the eligible infrastructure system project less annual depreciation expense associated with any related facility retirements; and(d) The property taxes applicable to the eligible infrastructure that will be due within twelve months of the filing of a request to implement a water and sewer infrastructure rate adjustment pursuant to sections 393.1506 and 393.1509, less any property taxes associated with any related facility retirements;(2)"Commission", the Missouri public service commission;(3)"Eligible infrastructure system projects", water or sewer utility plant projects that:(a) Replace or extend the useful life of existing infrastructure;(b) Are in service and used and useful;(c) Do not include projects intended solely for customer growth; and(d) The costs of which were not recovered in the water or sewer corporation's base rates in its most recent general rate case;(4)"Sewer corporation", the same as defined in section 386.020;(5)"Water and sewer infrastructure rate adjustment" or "WSIRA", a separate line item rate on a customer's water or sewer bill designed to recover the appropriate pretax revenues associated with eligible infrastructure system projects implemented pursuant to sections 393.1500 to 393.1509;(6)"Water corporation", the same as defined in section 386.020;(7)"Water or sewer utility plant projects" shall consist of the following: (a) Replacement of or cleaning and relining of existing water and sewer pipes, and associated valves, hydrants, meters, service lines, laterals, sewer taps, curbstops, and manholes;(b) Replacement of lead mains, lead goosenecks and lead service lines, and associated valves and meters;(c) Replacement of booster station and lift station pumps, with equipment of similar capacity and operation, as well as related pipes, valves, and meters;(d) Facilities relocations required due to construction or improvement of a highway, road, street, public way, or other public work by or on behalf of the United States, this state, a political subdivision of this state, or another entity having the power of eminent domain; provided that the costs related to such projects have not been reimbursed to the water or sewer corporation;(e) Replacement of water and wastewater treatment mechanical equipment with equipment of similar capacity and operation, including well and intake pumps, transfer pumps, high service or discharge pumps, and metering pumps; and(f) Replacement of Supervisory Control and Data Acquisition System (SCADA) components necessary for the operation and monitoring of remote installations including radio and cellular communication equipment, and programmable logic controllers;(8)"WSIRA revenues", revenues produced through implementation of a WSIRA pursuant to sections 393.1500 to 393.1509, exclusive of revenues from all other rates and charges.Added by 2021 Mo. Laws, SB 44,s A, eff. 8/28/2021.