AK HB268

Electric cooperatives would be exempt from state and local ad valorem, income, and excise taxes

The electric cooperative tax is repealed, with only the telephone cooperative gross revenue tax continuing to be refunded to local governments

Tax exemptions for electricity generation and storage facilities constructed after July 1, 2024 are expanded to include storage facilities, not just generation facilities

Non-public utility operators qualify for tax exemptions if they provide power only to a public utility, or to end users who were not receiving electric service from a public utility on July 1, 2026

Effective date: July 1, 2026