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2005 SESSION

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SB 1011 Personal property tax; rate on generating equipment of electric suppliers.

Introduced by: Emmett W. Hanger, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Property taxes; generating equipment of electric suppliers.  Provides that generating equipment of electric suppliers utilizing wind turbines shall be taxed at a rate or rates that when applied to assessed value would generate an amount of revenue approximately equal to $3,000 per megawatt of the nameplate production capacity. The bill has an effective date of January 1, 2006.

SUMMARY AS INTRODUCED:

Property taxes; generating equipment of electric suppliers.  Provides that generating equipment of electric suppliers utilizing wind turbines shall be taxed at a rate or rates that when applied to fair market value would generate an amount of revenue approximately equal to $3,000 per megawatt of production capacity. The bill has an effective date of January 1, 2006.