Delaware General Assembly

Signed 6/28/05

The General Assembly has ended, the current status is the final status.

6/14/05

Adams

Rep. Spence

Sen. McDowell, Blevins, DeLuca, McBride, Sokola, Vaughn, Connor, Amick, Still, F Simpson, Bonini, Copeland
Reps. Smith, Lee, Gilligan, VanSant, Mulrooney, Buckworth, Ewing, Viola, Keeley, Atkins, Lavelle, Hudson

AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO RATE BASE.

The existing definition of rate base predates the imposition of the Alternative Minimum Tax (“AMT”) on corporations. The payment of AMT results in an adjustment to accumulated deferred income taxes. This legislation clarifies that this adjustment to accumulated deferred income taxes is recognized in determining the utility’s rate base.

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Takes effect upon being signed into law

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