SB 2707

ON APRIL 15, 2026, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 2643, AS AMENDED. AMENDMENT #1 removes the provision that provides that a ny surplus remaining at the end of each fiscal year, after payment and satisfaction of the following payments and the withholding of proper reserves as set forth in the bill , may be paid and deposited into the general fund for the City of Winchester :  Expenses for the operation and maintenance of each separate system under the b oard of p ublic u tilities.  Principal and interest on bonds issued payable from the revenues from each separate system under the board of public utilities .  Modification, extension, and improvements of the systems under the board of public utilities .  All obligations incurred in the operation and maintenance of the systems under the board of public utilities .  Purchase and redemption of bonds issued by the systems under the board of public utilities in the event such bonds can be obtained for redemption .  Creation and maintenance of a working cash fund .  Payment of an amount to the general fund of the City of Winchester, which must be a tax equivalent not in excess of 100% of realty tax on property owned or controlled by the systems under the board of public utilities in lieu of ad valorem taxes on the properties of the systems .  P ayment of taxes to other taxing bodies having jurisdiction, if such taxes are legally imposed.