SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1999 SESSION
SB 1286 Taxation of electric utilities.
Introduced by: John C. Watkins | all patrons ... notes | add to my profiles
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)
Taxation of electric utilities. Eliminates the state gross receipts tax, the State Corporation Commission special assessment tax, and the local gross receipts tax on electric suppliers. In place of these taxes, consumers of electricity will pay a declining block consumption tax and corporations will be subject to corporate income tax. The consumption tax, which contains components for a state gross receipts tax, SCC regulatory tax, and local consumption tax, will be levied at rates of (i) $0.00155 for the first 2,500 kWh consumed; (ii) $0.00099 for between 2,500 and 50,000 kWh; and (iii) $0.00075 for power consumed in excess of 50,000 kWh. These combined rates may be reduced to reflect lower SCC regulatory charges and to omit the local tax component in localities served by municipal-owned electric utilities that opt not to assess the local tax. In addition, most electric suppliers will pay a net corporate income tax. Electric cooperatives are not subject to the corporate income tax except to the extent sales are made to nonmember customers. Electric suppliers will report real and personal property to the State Corporation Commission, which will centrally assess their property. These changes are in anticipation of federal deregulation of the electric utility industry. The effective date of the legislation is January 1, 2001.
FULL TEXT
- 01/21/99 Senate: Presented & ordered printed 992604755 pdf
- 02/05/99 Senate: Committee substitute printed 999612755-S1 pdf
- 03/05/99 Senate: Bill text as passed Senate and House (SB1286ER) pdf
- 04/07/99 Senate: Reenrolled bill text (SB1286ER2) pdf
- 04/13/99 Governor: Acts of Assembly Chapter text (CHAP0971) pdf
AMENDMENTS
HISTORY
- 01/21/99 Senate: Presented & ordered printed 992604755
- 01/21/99 Senate: Referred to Committee on Finance
- 02/04/99 Senate: Reported from Finance with substitute (15-Y 2-N)
- 02/05/99 Senate: Committee substitute printed 999612755-S1
- 02/05/99 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/05/99 Senate: VOTE: CONST. RDG. DISPENSED R (39-Y 0-N)
- 02/08/99 Senate: Read second time
- 02/08/99 Senate: Reading of substitute waived
- 02/08/99 Senate: Committee substitute agreed to 999612755-S1
- 02/08/99 Senate: Passed by for the day
- 02/09/99 Senate: Read second time
- 02/09/99 Senate: Engrossed by Senate - comm. sub. 999612755-S1
- 02/09/99 Senate: Passed by temporarily
- 02/09/99 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/09/99 Senate: VOTE: CONST. RDG. DISPENSED (40-Y 0-N)
- 02/09/99 Senate: Passed Senate (34-Y 4-N 2-A)
- 02/09/99 Senate: VOTE: PASSAGE (34-Y 4-N 2-A)
- 02/09/99 Senate: Communicated to House
- 02/12/99 House: Placed on Calendar
- 02/15/99 House: Read first time
- 02/15/99 House: Referred to Committee on Finance
- 02/18/99 House: Reported from Finance with amds. (20-Y 4-N)
- 02/19/99 House: Read second time
- 02/22/99 House: Read third time
- 02/22/99 House: Passed by for the day
- 02/23/99 House: Passed by for the day
- 02/24/99 House: Read third time
- 02/24/99 House: Committee amendments agreed to
- 02/24/99 House: Engrossed by House as amended
- 02/24/99 House: Pending question ordered
- 02/24/99 House: Passed House with amendments (62-Y 36-N)
- 02/24/99 House: VOTE: PASSAGE (64-Y 36-N)
- 02/25/99 Senate: Reading of amendments waived
- 02/25/99 Senate: House amendments agreed to by Senate (34-Y 4-N 2-A)
- 02/25/99 Senate: VOTE: CONCUR HOUSE AMENDMENTS (34-Y 4-N 2-A)
- 03/05/99 Senate: Bill text as passed Senate and House (SB1286ER)
- 03/12/99 Senate: Enrolled
- 03/12/99 House: Signed by Speaker
- 03/15/99 Senate: Signed by President
- 03/29/99 Senate: Governor's recommendation received by Senate
- 04/07/99 Senate: Placed on Calendar
- 04/07/99 Senate: Senate concurred in Gov's recommendation (39-Y 0-N)
- 04/07/99 Senate: VOTE: ADOPT GOV. RECOMM. (39-Y 0-N)
- 04/07/99 House: House concurred in Gov. recomm. (Block Vote) (97-Y 0-N)
- 04/07/99 House: VOTE: BLOCK VOTE-ADOPTION (97-Y 0-N)
- 04/07/99 Governor: Governor's recommendation adopted
- 04/07/99 Senate: Reenrolled
- 04/07/99 Senate: Signed by President as reenrolled
- 04/07/99 House: Signed by Speaker as reenrolled
- 04/07/99 House: Enacted, Chapter 971 (effective 7/1/99)
- 04/07/99 Senate: Reenrolled bill text (SB1286ER2)
- 04/13/99 Governor: Acts of Assembly Chapter text (CHAP0971)