HB2663 HFA BOGGS 3-18 #1

    Delegate Boggs moves to amend the Enrolled Bill as follows:

    ON page three, section one, line three, immediately following the word “electric”, by striking the word “and” and adding in lieu thereof the word “or”;

    AND

    On page three, section one, line three, immediately following the word “gas” by adding in lieu thereof the words “or water”;

    AND

    ON page three, section one, line seven, immediately preceding the word “water” by striking the word “and” and inserting in lieu thereof the word “or”;

    AND

    ON page three, section eleven, by striking out the provisions of section eleven, article twenty-four, chapter eleven, which appears twice in the enrolled bill on pages three through seven, and inserting in lieu thereof the following:     

“ §11-24-11. Credit for reducing electric or natural gas or water utility rates for low-income residential customers.

(a) General. -- A credit shall be allowed against the primary

tax liability of an eligible taxpayer under this article for the cost of providing electric or natural gas or water utility service, or any combination of electric, natural gas or water utility services, at special reduced rates to qualified low-income residential customers which has not been reimbursed by any other means.

    (b) Definitions. -- For purposes of this section, the term:

    (1) “Eligible taxpayer” means a utility which has provided electric or natural gas or water utility service, or any combination of electric, natural gas or water utility services, to qualified low-income residential customers at special reduced rates.

    (2) “Cost of providing electric or natural gas or water utility service, or any combination of electric, natural gas or water utility services, at special reduced rates” means the amount certified by the public service commission under the provisions of section two, article two-a, chapter twenty-four of this Code, as the revenue deficiency incurred by a public utility in providing special reduced rates for electric or natural gas or water utility service, or any combination of electric, natural gas or water utility services, as required by section one or authorized by section five, article two-a, chapter twenty-four of this code.    (3) “Special reduced rates” means the rates ordered or approved by the public service commission under the authority of sections one or five, article two-a, chapter twenty-four of this code.

    (4) “Qualified low-income residential customers” means those utility customers eligible to receive electric or natural gas or water utility service, or any combination of electric, natural gas or water utility services, under special reduced rates.

    (c) Amount of credit. -- The amount of the credit available to any eligible taxpayer shall be equal to its cost of providing electric or natural gas or water utility service, or any combination of electric, natural gas or water utility services, at special reduced rates to qualified residential customers, less any reimbursement of said cost which the taxpayer has received through any other means.

    (d) When credit may be taken. -- An eligible taxpayer may claim a credit allowed under this section on its annual return for the taxable year in which it receives certification of the amount of its revenue deficiency from the public service commission.

    Notwithstanding the provisions of section sixteen of this article to the contrary, no credit may be claimed on any declaration of estimated tax filed for such taxable year prior to the first day of July of such taxable year. Such credit may be claimed on a declaration or amended declaration filed on or after that date but only if the amount certified will not be recovered by application of the business and occupation tax credit allowed by section three-f, article thirteen of this chapter. In such event, only that amount not recovered by that credit may be considered or taken as a credit when estimating the tax due under this article. In no event may the eligible taxpayer recover more than one hundred percent of its revenue deficiency as certified by the public service commission.

    (e) Application of credit. -- The credit allowable by this section for a taxable year is not subject to the fifty percent limitation specified in section nine of this article. Notwithstanding the provisions of section four, article thirteen-f of this chapter, any unused credit may be carried over and applied against business and occupation taxes in the manner specified in section five, article thirteen-f of this chapter.

    (f) Copy of certification order. -- A copy of a certification order from the public service commission shall be attached to any annual return under this article on which a credit allowed by this section is taken.”;

    AND

    ON page twelve, section two, line one, immediately following the word “mandated” by adding the words “or authorized”;

    AND

    ON page thirteen, section five, line twenty-six, immediately following the word “SSI” and a comma, by adding the word “TANF” and a comma;

    AND

    ON page fourteen, section five, line thirty-six, immediately following the word “rules” and by adding the word “and”.