2006 Regular Session

SENATE BILL 1097

File Code: Taxes - Income
Sponsored By:
Senators Hollinger, Forehand, Green, and Middleton
Entitled:
Electric Utilities - Windfall Profits Tax - Electric Universal Service Program

Synopsis:

Imposing a 50% tax on specified windfall profits of corporations that transmit or distribute electricity in the State and their affiliated corporations; providing for the distribution of the revenues from the tax to the Electric Universal Service Program Fund; and applying the Act to tax years after 2005.

History by Legislative Date

Senate Action
3/22
First Reading Budget and Taxation & Finance
Motion Rules Suspended for late introduction (Senator Hollinger) Adopted
Motion Rules Suspended Referred (Senator Hollinger) Adopted
Referred Budget and Taxation Finance
3/28
Hearing 3/29 at 1:00 p.m.
House Action
No Action

Sponsored by:

Senator Paula C. Hollinger, District 11
Senator Jennie M. Forehand, District 17
Senator Leo E. Green, District 23
Senator Thomas M. Middleton, District 28

Bill indexed under the following Subjects:

COMPTROLLER
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
ENERGY MATTERS -see also- FUEL; POWER PLANTS; SOLAR ENERGY
INCOME TAX
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
SOCIAL SERVICES -see also- WELFARE
UTILITIES -see also- HIGH VOLTAGE LINES; TELEPHONES; WATER

Bill affects the following Statutes:

Public Utility Companies
( 7-512.1 )
Tax - General
( 2-613.1 , 2-614 , 2-615 , 10-101 , 10-102.2 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered