(1) are:

(B) projects to relocate existing utility plant, including projects to relocate utility plant or equipment to accommodate the construction, reconstruction, or improvement of a highway, street, or road (as defined in IC 8-23-1-23), including projects under IC 8-25;

(2) do not increase revenues by connecting to new customers, even if the projects provide greater available capacity with respect to an eligible utility‘s distribution or collection plant; and

(3) either:

(A) for a public utility:

(i) are in service and used and useful; and

(ii) were not included in the public utility’s rate base in its most recent general rate case; or

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

(i) are or will be extensions or replacements of projects described in subdivision (1), as described in section 5.5(2)(B) or 5.5(3)(B) of this chapter, as applicable;

(ii) were not included on the utility’s balance sheet as plant in service in the utility’s most recent general rate case; and

(iii) are not infrastructure improvements that are being recovered or have been recovered through rates or 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; P.L.61-2022, SEC.4.