AK SB218

Electric cooperatives would be exempt from state and local ad valorem, income, and excise taxes under a new provision added to AS 10.25.540

Removes the electric cooperative tax from the existing local government refund mechanism, leaving only telephone cooperative gross revenue taxes subject to refund to boroughs and cities

Expands tax exemptions for electricity facilities constructed and placed into service on or after July 1, 2024, to include both electricity generation and electricity storage facilities (previously only generation facilities)

Adds a new tax exemption for non-utility electricity providers serving end users who were not receiving electric service from a public utility on July 1, 2026

Effective date is July 1, 2026