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2018 SESSION

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18105569D
HOUSE BILL NO. 1573 Offered January 19, 2018 A BILL to authorize the State Corporation Commission to adjust base rates of electric utilities for changes in corporate income tax rates. ---------- Patron-- Keam ---------- Referred to Committee on Commerce and Labor ----------

Be it enacted by the General Assembly of Virginia:

1. § 1. Notwithstanding any other provision of law, nothing shall preclude the State Corporation Commission from adjusting the rates of any investor-owned electric utility to recognize changes in the utility’s cost of service associated with the reduction in federal corporate income tax rates as a result of federal Public Law No. 115-97. The Commission shall continue to determine income tax costs for such utilities in accordance with the provisions of § 56-585.1.A.10.

2. That an emergency exists and this act is in force from its passage.