Illinois Statutes Chapter 220. Utilities § 5/16-108.21. Accelerated repayment of excess deferred income tax

(1) That a portion of each utility's compensation from ratepayers is attributable to reimbursement for federal taxes paid by the utility.

(2) Due to the enactment of the 2017 Tax Cut and Jobs Act, the federal income tax rate for corporations was lowered, resulting in excess deferred income tax for distribution utilities in the State that serve more than 100,000 customers.

(3) In proceedings before the Commission, it was determined that the repayment period to ratepayers by the utilities which serve more than 100,000 customers in this State for this excess deferred income tax would be 39.5 years.

(4) The COVID-19 pandemic has harmed many customers of all rate classes in the State, and resulted in the Commission adopting a number of measures to provide relief for customers.

(5) It would be in the interest of the State for the repayment of the excess deferred income tax referenced in Commission Dockets 19-0436, 19-0387, 20-0381, and 20-0393 to be paid back to ratepayers on a timetable greatly accelerated from that set forth in the dockets.