Oklahoma § 17-190.5 - Study of impact of restructuring on tax revenues

§ 17-190.5. Study of impact of restructuring on tax revenues

To ensure full evaluation and consideration of the impact of

restructuring of the electric utility industry on municipal and

state tax revenues the Legislature hereby directs the Joint Electric

Utility Task Force to study and fully assess the impact of

restructuring on state tax revenues and all other facets of the

current utility tax structure both on the state and all other

political subdivisions of the state. The task force shall direct

the Oklahoma Tax Commission to assist the task force in completion

of this study. The Oklahoma Tax Commission is hereby authorized to

retain such consultants and experts as may be necessary to complete

this study. The study shall include the feasibility of establishing

a uniform consumption tax or other method of taxation which may be

Oklahoma Statutes - Title 17. Corporation Commission

applied in a restructured industry and shall also assess means of

ensuring that tax revenues derived by municipalities will not be

adversely impacted as a result of restructuring. A final report

shall be completed by the task force no later than October 1, 1999.

During the transition period prior to full consumer choice, the

Oklahoma Tax Commission is expressly prohibited from promulgating

any rule or issuing any order relating to methods of taxation to be

applied to a restructured electric industry without prior express

authorization by the Oklahoma State Legislature or the Joint

Electric Utility Task Force.

Notwithstanding any other provisions contained in this act, a

uniform tax policy which allows all competitors to be taxed on a

fair and equal basis shall be established on or before July 1, 2002.

Added by Laws 1997, c. 162, § 5, emerg. eff. April 25, 1997.

Amended by Laws 1998, c. 391, § 5, emerg. eff. June 10, 1998.