Amends and adds to existing law to provide certain property tax exemptions for certain utilities and to provide for a tax on rate-regulated electric companies and gas companies.
TAXATION -- Amends and adds to existing law to provide certain property tax exemptions for certain utilities and to provide for a tax on rate-regulated electric companies and gas companies.
STATEMENT OF PURPOSE
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This proposed legislation would replace the property tax on electric utilities with a tax based on kilowatt hours sold. It also would replace the property tax on gas companies with a tax based on therms sold.
FISCAL NOTE
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This proposed legislation will replace property tax revenue to local taxing districts that should be revenue neutral.
SOP revised: 02/26/2025, 9:23 AM
HOW THEY VOTED
House Third Reading
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YEA (61)
ABSENT / NOT VOTING (2)
Senate Third Reading
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YEA (31)
ABSENT / NOT VOTING (1)
LATEST ACTION
Reported Signed by Governor on March 27, 2025 Session Law Chapter 188 Effective: 01/01/2026
BILL INFO
- Session
- 2025
- Chamber
- house
- Status date
- Mar 27, 2025
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