ASSUMPTIONS:
1.
Effective
for tax years beginning after July 1, 2011.
2.
The
act reduces the general public utility tax rate on electricity and gas from
5.00% to 4.25%; and from 2.35% to 2.00% for electricity and gas distributed to
manufacturers, food processors and other agribusinesses.
3.
Further,
the first $5.0 million in annual collections is dedicated to a new “Energy
Efficiency Investment Fund” to be managed by the Department of Natural
Resources and Environmental Control.
REVENUE
LOSS:
FY 2012 $9,500,000
FY 2013 $10,900,000
Office of
Controller General
(Amounts are shown in whole dollars)
May 31, 2011
SBK:kea
2051460025