Indiana Code 8-1-40.5-11. Securitization property
(1) The right to impose, collect, and receive securitization charges, as authorized under the financing order, in an amount necessary to provide for the full recovery of all qualified costs.
Terms Used In Indiana Code 8-1-40.5-11
- electric utility: means a public utility (as defined in IC 8-1-2-1(a)) that meets the following criteria:
Indiana Code 8-1-40.5-3
- financing order: means an order issued by the commission under section 10 of this chapter. See Indiana Code 8-1-40.5-4
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- securitization charges: means nonbypassable amounts that are:
Indiana Code 8-1-40.5-8
- 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. See Indiana Code 8-1-40.5-9
(3) All revenue, collections, payments, money, and proceeds arising out of the rights and interests described in this section.
(b) Securitization property constitutes a present property right for purposes of contracts concerning the sale or pledge of property, even if the imposition and collection of securitization charges depend on further acts of the electric utility or others that have not yet occurred. The securitization property continues to exist, and the financing order under which the securitization property arises remains in effect, for the same period as the pledge of the state under section 16(b) of this chapter.
(c) All revenues and collections resulting from securitization charges constitute proceeds of only the securitization property arising from the financing order.
As added by P.L.80-2021, SEC.1.