An Act relating to the taxation of independent power producers; and increasing the efficiency of integrated transmission system charges and use for the benefit of ratepayers.

This bill changes how independent power producers and electric cooperatives in Alaska are taxed by replacing standard income and property taxes with a fee based on the amount of electricity they sell. It also creates a new system for recovering the costs of operating integrated transmission networks, aiming to replace inefficient per-unit charges with a method that considers each utility's share of the total load. To manage this new cost recovery, the bill requires utilities to form an association that will file tariffs to ensure fair and reasonable rates for all connected entities.