Statewide Utility Tax Reform Act redefines taxation for public utilities, including nuclear power plants, to ensure fair distribution of tax revenues.
The Statewide Utility Tax Reform Act establishes a tiered distribution system for ad valorem tax revenues collected in counties hosting high-risk facilities. Counties hosting high-risk facilities receive 65% of the total tax revenues, adjacent counties receive 10%, and the State General Fund receives 25%. Utility companies must make annual Payments in Lieu of Taxes (PILOT) to host counties, calculated based on a base amount and a performance-based adjustment. Counties must allocate revenues for public infrastructure, education, healthcare, and economic development.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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