AN ACT RELATING TO TAXATION -- PUBLIC SERVICE CORPORATION TAX

HB 6013 suspends the 4% gross earnings tax on electric and gas utility corporations from January 1, 2026, through December 31, 2034 (a 10-year period). This directly affects companies primarily engaged in manufacturing, selling, or distributing electricity and gas to the public. The bill amends tax code section 44-13-4 to temporarily halt this specific tax rate, which would otherwise apply to these utilities. The suspension is set to end on January 1, 2035, when the tax would resume.