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2000 SESSION
HB 1132 Electric utility consumption tax.
Introduced by: Terry G. Kilgore | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Electric utility consumption tax; consumer services cooperatives and calculation of the tax. Reestablishes alternative tax arrangements for customers of utility consumer services cooperatives that purchase wholesale power from certain federal entities, such as the Tennessee Valley Authority. These entities pay a federally required payment in lieu of state taxes that is calculated on a gross-proceeds basis. The consumption tax imposed on such consumers would be adjusted to compensate for the amount that continues to be collected by the Commonwealth from the federal entity, thus preventing these customers from being subjected to the same tax twice. The Department of Taxation may audit the records and books of the cooperatives to ensure that the tax has been properly calculated and remitted to the State Corporation Commission.
FULL TEXT
HISTORY
- 01/24/00 House: Presented & ordered printed 005787816
- 01/24/00 House: Referred to Committee on Finance
- 01/26/00 House: Assigned to Finance sub-committee: 2
- 02/13/00 House: Stricken from docket by Finance (23-Y 0-N)