Sec. 13. (a) The commission may not approve a petition filed under section 8 or 10 of this chapter to the extent it would:
(1) for a public utility, produce total adjustment revenues exceeding ten percent (10%) of the eligible utility's base revenue level approved by the commission in the eligible utility's most recent general rate proceeding; or
(2) for a municipally owned or not-for-profit utility, produce total adjustment revenues over the course of each twelve (12) month recovery period that exceed ten percent (10%) of the eligible utility's base revenue level approved by the commission in the eligible utility's most recent general rate proceeding.
(b) Subsection (a) does not apply to:
(1) infrastructure improvement costs associated with eligible infrastructure improvements that are placed in service due to the construction, reconstruction, or improvement of a highway, street, or road (as defined in IC 8-23-1-23), including projects under IC 8-25; or
(2) property taxes associated with eligible infrastructure improvements.