ID H0722

Establishes a kilowatt-hour tax of $0.000923 per kilowatt-hour on rate-regulated electric utilities and thermal energy taxes of $0.010802 per therm for rate-regulated affiliated gas companies and $0.00329 per therm for rate-regulated gas companies, replacing traditional property taxes on these utilities' operating property.

Creates a new Rate-Regulated Tax Fund in the state treasury to collect and distribute tax revenues from these utility companies to counties, taxing districts, and urban renewal agencies.

Apportions tax revenues to counties based on the proportion of property taxes levied on these utilities' operating property in tax year 2025, with county auditors required to certify 2025 property tax amounts by January 12, 2026.

Requires rate-regulated utilities to file semi-annual statements of kilowatt-hours and therms sold, with taxes due by December 20 for January-June sales and June 20 for July-December sales; delinquent taxes incur a 5% penalty plus 1% monthly interest.

Declares an emergency with retroactive application to January 1, 2026, and prohibits new taxing districts or revenue allocation areas formed after January 1, 2025 from receiving distributions under this tax structure.