Modifies and creates new provisions relating to electric utilities

HB 2402 modifies Missouri's tax code to clarify definitions for energy production projects, primarily affecting owners of solar energy systems. The bill adds specific language defining solar panels, racking systems, inverters, and related equipment as "tangible personal property" for tax purposes. This change ensures solar installations meet the state's criteria for tangible assets, potentially impacting property tax assessments. The legislation focuses on updating existing definitions rather than creating new regulatory requirements.