Enacts the "utility fair acquisition act", providing that in any acquisition by a municipal corporation or a public benefit corporation created pursuant to article 5 of the public authorities law of infrastructure operated by a public utility company or private energy provider, the appraised value shall be reduced by the value of infrastructure that was financed through customer user fees, ratepayer surcharges, or other non-investor-funded mechanisms as determined by the public service commission.

The 'Utility Fair Acquisition Act' aims to change how the value of utility infrastructure is assessed when a municipal or public benefit corporation acquires it. Specifically, it would require that the appraised value of such infrastructure be lowered by the amount that was paid for it through customer fees or surcharges, rather than by investors. This adjustment would be determined by the public service commission.

Supporters of the bill argue that it promotes fairness in the acquisition process by ensuring that the costs borne by consumers are reflected in the valuation of utility assets. They believe this will protect ratepayers from paying twice for infrastructure that they have already funded through fees and surcharges.

Critics of the bill contend that it could undermine the financial viability of utility companies by devaluing their assets, potentially leading to reduced investment in infrastructure improvements. They argue that this could ultimately harm consumers by limiting the quality and reliability of utility services.