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DE HB129

Bill

Official Source

Status

Passed

7/1/2011

Primary Sponsor

Rebecca Walker

Click for details

Origin

House of Representatives

146th General Assembly

AI Summary

  • Reduces the general public utility tax rate on electricity and gas from 5.00% to 4.25%
  • Reduces the public utility tax rate on electricity and gas distributed to manufacturers, food processors, and agribusinesses from 2.35% to 2.00%
  • Transfers the first $5,000,000 in annual tax receipts to the new Energy Efficiency Investment Fund managed by the Department of Natural Resources and Environmental Control
  • Creates the Energy Efficiency Investment Fund to provide grants, low-interest loans, and financing for energy efficiency projects, with preference given to projects reducing energy consumption and creating jobs
  • Takes effect for tax periods beginning after July 31, 2011, with the fund provisions effective for fiscal years commencing after June 30, 2011

Legislative Description

An Act To Amend Titles 29 And 30 Of The Delaware Code Relating To Public Utility Tax Rates And The Use Of The Proceeds Thereof.

Last Action

Signed by Governor

7/1/2011

Committee Referrals

Revenue & Taxation6/7/2011
Revenue & Finance5/13/2011

Full Bill Text

No bill text available