Exempts electric cooperatives and certain electricity generation and storage facilities from state and local taxes.

This bill amends Alaska state tax law to exempt electric cooperatives from state and local ad valorem, income, and excise taxes. It also exempts electricity generation and storage facilities constructed and placed into service after July 1, 2024, from these taxes if operated by a public utility or by an entity providing power to a public utility or an end user not receiving service from a public utility on July 1, 2026.

Exempts electric cooperatives and certain electricity generation and storage facilities from state and local taxes.

This bill amends Alaska state tax law to exempt electric cooperatives from state and local ad valorem, income, and excise taxes. It also exempts electricity generation and storage facilities constructed and placed into service after July 1, 2024, from these taxes if operated by a public utility or by an entity providing power to a public utility or an end user not receiving service from a public utility on July 1, 2026.