Missouri § 393.1000 - Definitions.

§ 393.1000. Definitions.

As used in sections 393.1000 to 393.1006, the following terms mean:

(1)  "Appropriate pretax revenues", the revenues necessary to produce net operating income equal to:

(a)  The water corporation's weighted cost of capital multiplied by the net original cost of eligible infrastructure system replacements, including recognition of accumulated deferred income taxes and accumulated depreciation associated with eligible infrastructure system replacements which are included in a currently effective ISRS; and

(b)  Recover state, federal, and local income or excise taxes applicable to such income; and

(c)  Recover all other ISRS costs;

(2)  "Commission", the Missouri public service commission;

(3)  "Eligible infrastructure system replacements", water 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 increase revenues by directly connecting the infrastructure replacement to new customers; and

(d)  Were not included in the water corporation's rate base in its most recent general rate case;

(4)  "ISRS", infrastructure system replacement surcharge;

(5)  "ISRS costs", depreciation expenses and property taxes that will be due within twelve months of the ISRS filing;

(6)  "ISRS revenues", revenues produced through an ISRS, exclusive of revenues from all other rates and charges;

(7)  "Water corporation", every corporation, company, association, joint stock company or association, partnership, and person, their lessees, trustees, or receivers appointed by any court whatsoever, owning, operating, controlling, or managing any plant or property, dam or water supply, canal, or power station, distributing or selling for distribution, or selling or supplying for gain any water to more than ten thousand customers;

(8)  "Water utility plant projects" may consist only of the following:

(a)  Mains, and associated valves and hydrants, installed as replacements for existing facilities that have worn out or are in deteriorated condition;

(b)  Main cleaning and relining projects; and

(c)  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 corporation.

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(L. 2003 H.B. 208)

---- end of effective  28 Aug 2003 ----

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