Indiana Code Title 8. Utilities and Transportation § 8-1-31.7-2

(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

(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.