AB 2xx passes fiscal cmte

----- Forwarded by Jeff Dasovich/NA/Enron on 06/06/2001 08:54 AM -----

"Chris Micheli" <cmicheli@carpentersnodgrass.com<
06/05/2001 05:08 PM

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cc:
Subject: AB 2xx passes fiscal cmte

In a hearing off the Floor this afternoon, the Assembly Appropriations
Committee voted on a partisan basis (14-7) to pass AB 2xx (Corbett), which
would enact a gross receipts tax on power generators. Please note that three
amendments were adopted by the author: (1) exempt state contracts (not all
long-term contracts like SB 1xx does) and the taxpayer would have to go to
DWR for this exemption; (2) taxpayer would get a credit for any similar tax
paid in another state (assuming other states will actually enact windfall
profits tax bills; (3) PUC will adjust the base price quarterly (rather than
"from time-to-time").
Next stop is the Assembly Floor, planned for Thursday morning.

Chris Micheli, Esq.
Carpenter Snodgrass & Associates
1201 K Street, Suite 710
Sacramento, CA 95814
(916) 447-2251
FAX: (916) 445-5624
EMAIL: cmicheli@carpentersnodgrass.com