Utilities, Utility Districts - As introduced, requires proportionate representation on certain municipal electric utility boards; requires direct payment of tax equivalent amounts to the taxing jurisdictions in the various counties in which a municipal utility's electric plant is located under certain circumstances; eliminates exemptions from the manner in which tax equivalent amounts are directed to certain taxing jurisdictions. - Amends TCA Title 5; Title 6; Title 7; Title 65 and Title 67.