relative to the application of utility property taxes and statewide education property taxes to electric generating facilities.

HB 696 modifies how utility property taxes and statewide education property taxes apply to electric generating facilities, such as power plants. It exempts qualifying facilities from these taxes, directly affecting utility companies and electric generators that own such infrastructure. The key provision changes the tax treatment by removing these facilities from the taxable base for both utility and education property taxes. The bill was signed into law on July 15, 2025, and takes effect on July 1, 2027. This creates a permanent tax exemption for eligible electric generation facilities under the specified tax categories.