An Act To Amend the Auditing Requirements for Accounts of All Water Utilities
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 35-A MRSA §504, sub-§3, as amended by PL 1987, c. 631, §6, is further amended to read:
3. Extension. The commission may, for good cause, extend the deadline set out in subsection 2 not exceeding one month and may excuse any public utility except a water utility from filing its returns when the gross revenue of the utility does not exceed $50,000. The commission may, for good cause, extend the deadline set out in subsection 2 not exceeding one month and may excuse any water utility from filing its returns when the gross revenue of the utility does not exceed $200,000.
summary
This bill amends the auditing requirements for accounts of all water utilities as they pertain to the gross revenue necessary before the Public Utilities Commission may either extend the deadline for or excuse any water utility from filing a return. Current law sets the threshold at $50,000. The bill increases that amount to $200,000.