As used in this chapter, "eligible infrastructure improvements" means new used and useful water or wastewater utility distribution or collection plant projects that:

1. (1) do not increase revenues by connecting to new customers; and

2. (2) either:

   1. (A) for a public utility:

      1. (i) are in service; and
      2. (ii) were not included in the public utility's rate base in its most recent general rate case; or

   2. (B) for a municipally owned or not-for-profit utility:

      1. (i) are in service;
      2. (ii) were not included on the utility's balance sheet as plant in service in the utility's most recent general rate case; and
      3. (iii) are not subject to another rate adjustment mechanism.

As added by P.L.94-2000, SEC.1. Amended by P.L.209-2014, SEC.6; P.L.212-2015, SEC.2; P.L.91-2017, SEC.6.