Bill > HB2269

This bill establishes new reporting requirements for utilities regarding sales of natural gas and electricity to retail customers, and it sets a threshold for a tax deduction related to these sales. Specifically, utilities must report their gross proceeds from selling natural or artificial gas and electricity to retail customers. The Department of Revenue will then track the "foregone revenue" (the amount of tax not collected due to the deduction) and will estimate when this foregone revenue reaches $2.3 billion. If this threshold is projected to be met within a year, the department must notify legislative leaders and the governor, indicating the date the deduction will expire. Utilities claiming this deduction will be required to notify their retail customers in writing about the expiration date and the percentage of the transaction privilege tax rate that will apply afterward. The bill also amends existing law to remove the deduction for sales to natural or artificial gas and electricity retail customers, with this removal becoming effective either on December 31, 2046, or on the last day of the fiscal quarter in which the $2.3 billion foregone revenue threshold is met, whichever comes first.

Budget and Finance

https://apps.azleg.gov/BillStatus/BillOverview/83994