S.F. No. 1172 Summary

• Establishes electric generation transition aid program for counties, cities, towns, and school districts experiencing tax base losses from retirement of coal, nuclear, or natural gas-powered electric generating units.

• Aid amount equals the difference in tax capacity before and after unit retirement, multiplied by the jurisdiction's tax rate, then decreases by 5 percent annually until payments fall below $5,000.

• Eliminates aid to jurisdictions whose total net tax capacity grows beyond 90 percent of baseline capacity in the year they first qualified, though jurisdictions may requalify for aid from subsequent unit retirements.

• Includes retroactive coverage for electric generating units retired between 2016 and 2023, with their unit base year set as 2023 for aid calculation purposes.

• Appropriates sufficient funds from the general fund to the Commissioner of Revenue (for non-school jurisdictions) and Commissioner of Education (for school districts) to make annual aid payments beginning in 2024.