Electric utilities; electric school bus projects.

Electric utilities; electric school bus projects;report. Authorizes electric utilities to partner with schooldivisions to implement projects designed to encourage the proliferationof school buses that are fueled in whole or in part by electricity,along with associated charging and other infrastructure, for the purpose of transporting students and that may also serve as electricgrid stabilization or peak-shaving resources. The bill provides thatif an electric school bus project meets the requirements in the bill,then it is in the public interest and may constitute an energy storageresource. The bill requires an electric school bus project and itscorresponding agreement to include a provision to compensate a participating school division for the use of the school bus battery by the electricutility as a grid stabilizing or peak-shaving resource and a provisionthat the electric school buses shall be titled under the participatingschool division, but the utility shall own the associated batteriesand charging stations. The bill also provides a tax exemption forelectric school buses and associated charging and other infrastructurethat is related or incidental to an authorized electric school busproject.