An Act relating to the taxation of electric cooperatives; relating to the taxation of electricity generation and electricity storage facilities; and providing for an effective date.

SB 218 exempts electric cooperatives from state and local ad valorem, income, and excise taxes. It also creates tax exemptions for new electricity generation and storage facilities (constructed on or after July 1, 2024) if operated by a public utility or joint action agency, or if they sell exclusively to public utilities or to end users not previously served by a public utility as of July 1, 2026. The bill repeals existing tax provisions for electric cooperatives and related facilities, effective July 1, 2026. This directly affects electric cooperatives and qualifying new energy infrastructure projects meeting the specified conditions.