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Date: Tue, 08 May 2001 08:52:01 -0500 From: "Tracey Bradley" <tbradley@bracepatt.com< To: "Justin Long" <jlong@bracepatt.com<, "Paul Fox" <pfox@bracepatt.com< Cc: "Deanna King" <dking@bracepatt.com<, "Dan Watkiss" <dwatkiss@bracepatt.com<, "Ronald Carroll" <rcarroll@bracepatt.com< Subject: Calif State Senate Passes Windfall Profits Tax Bill Mime-Version: 1.0 Content-Type: text/plain; charset="us-ascii" Content-Disposition: inline FYI Calif State Senate Passes Windfall Profits Tax Bill Monday, May 07, 2001 08:48 PM ET LOS ANGELES -(Dow Jones)- The California state Senate passed a measure Monday that would place a windfall-profits tax on sales of electricity into the state's wholesale electricity market. The bill, SB1X, sponsored by state Sen. Nell Soto, D-Ontario, passed the Senate by a vote of 25-12. The legislation will now be sent to the Assembly. The legislation would require state regulators to set a base price for wholesale electricity sold in California and generators would be taxed at 100% above the base price for power sales that exceed that amount, according to the legislation. (This story was originally published by Dow Jones Newswires) Copyright © 2001 Dow Jones & Company, Inc. All Rights Reserved
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