Title 8, UTILITIES AND TRANSPORTATION

Sec. 13. (a) The commission, in exercising the commission's powers and carrying out the commission's duties with regard to any matter within the commission's authority under this chapter, may not: (1) for purposes of ratemaking or approval of financing, consider: (A) securitizati…

Sec. 14. (a) If an agreement by an electric utility or an assignee to transfer securitization property expressly states that the transfer is a sale or is otherwise an absolute transfer: (1) the resulting transaction: (A) is a true sale; and (B) is not a secured transaction; and (…

Sec. 15. (a) A valid and enforceable lien and security interest in securitization property may be created only by a financing order and the execution and delivery of a security agreement with a financing entity in connection with the issuance of securitization bonds. (b) The lien…

securitization bonds Sec. 16. (a) Securitization bonds are not: (1) a debt or obligation of the state; or (2) a charge on the state's full faith and credit or on the state's taxing power. (b) The state pledges, for the benefit and protection of financing parties and electric util…

Sec. 17. (a) The acquisition, ownership, and disposition of any direct interest in any securitization bond shall not be taken into account in determining whether a person is subject to any income tax, franchise tax, business activities tax, intangible property tax, excise tax, st…

Sec. 18. The provisions of this chapter are severable in the manner provided in IC 1-1-1-8(b). As added by P.L.80-2021, SEC.1.

Sec. 19. The commission shall adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.80-2021, SEC.1. Amended by P.L.93-2024, SEC.76.

Sec. 2. As used in this chapter, "commission" refers to the Indiana utility regulatory commission created by IC 8-1-1-2. As added by P.L.80-2021, SEC.1.

Sec. 3. As used in this chapter, "electric utility" means a public utility (as defined in IC 8-1-2-1(a)) that meets the following criteria: (1) The public utility owns or operates any electric generation facility for the provision of electric utility service to Indiana customers.…

Sec. 4. As used in this chapter, "financing order" means an order issued by the commission under section 10 of this chapter. As added by P.L.80-2021, SEC.1.

Sec. 5. (a) As used in this chapter, "financing party" means a holder of securitization bonds. (b) The term includes a trustee, a collateral agent, or any other person acting for the benefit of the holder. As added by P.L.80-2021, SEC.1.

Sec. 6. As used in this chapter, "qualified costs", with respect to an electric generation facility that will be retired from service by an electric utility not later than twenty-four (24) months after the filing of a petition by the electric utility under section 10 of this chap…

Sec. 7. (a) As used in this chapter, "securitization bonds" means bonds, debentures, notes, certificates of participation, certificates of a beneficial interest, certificates of ownership, or other evidences of indebtedness that: (1) are issued by an electric utility, its success…

Sec. 8. As used in this chapter, "securitization charges" means nonbypassable amounts that are: (1) approved by the commission under a financing order to allow for the full recovery of qualified costs by an electric utility; (2) collected from all retail customers and customer cl…

Sec. 9. As used in this chapter, "securitization property" means the rights and interests of an electric utility, or its successor, under a financing order, as described in section 11 of this chapter. As added by P.L.80-2021, SEC.1.