H03322023 Regular Session
Amends and adds to existing law to provide for a tax on gross utility electrical earnings and to establish the Rate-Regulated Electric Utility Tax Replacement Fund.
ELECTRIC UTILITIES -- Amends and adds to existing law to provide for a tax on gross utility electrical earnings and to establish the Rate-Regulated Electric Utility Tax Replacement Fund.
ELECTRIC UTILITIES
STATEMENT OF PURPOSE
This bill would replace the property tax on electric utilities with a gross receipts tax at 1.2% rate on gross retail revenues, Idaho Code has similar gross receipt taxes in lieu of property tax for cooperative electric and gas companies and geothermal, solar, and wind energy producers.
LATEST ACTION
Reported Printed and Referred to Revenue & Taxation
BILL INFO
- Session
- 2023
- Chamber
- house
- Status date
- Mar 16, 2023