(1) that does not increase revenues by connecting to new customers, even though the plant or equipment may provide the eligible utility with greater available capacity; and

(A) for a public utility:

(i) is used and useful;

(ii) is procured, installed, or constructed by the public utility with expenditures that are service enhancement improvements; and

(iii) was 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) is or will be an extension or replacement, consistent with section 8 of this chapter; and

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

As added by P.L.137-2020, SEC.15. Amended by P.L.32-2021, SEC.18.