Bill > SB1336

This bill modifies the electricity consumption tax rates for commercial and industrial electricity consumers in Virginia, adjusting the tax rates for different levels of monthly electricity consumption. Specifically, for electricity consumed between 2,500 and 50,000 kilowatt hours (kWh) per month, the state consumption tax rate is reduced from $0.00102 to $0.00065 per kWh, while the special regulatory tax rate is increased from $0.00013 to $0.000195 per kWh. Similarly, for electricity consumed over 50,000 kWh per month, the state consumption tax rate is reduced from $0.000771 to $0.00050 per kWh, and the special regulatory tax rate is increased from $0.000091 to $0.000195 per kWh. The bill maintains the existing tax structure that replaces state gross receipts, special regulatory revenue, and local license taxes for electricity corporations. The legislation also preserves existing provisions for municipal electric utilities and utility consumer services cooperatives, ensuring that certain exemptions and calculation methods remain in place. The overall effect of the bill is to slightly adjust the tax rates for different levels of electricity consumption while maintaining the fundamental tax framework.

Budget and Finance

https://lis.virginia.gov/bill-details/20251/SB1336