AN ACT RELATING TO TAXATION -- PUBLIC SERVICE CORPORATION TAX

SB 2544 suspends the 4% gross earnings tax on electric utility companies and the 3% tax on gas utility companies until January 1, 2036. This directly affects electric and gas utility corporations operating in the state by removing these tax obligations for nearly a decade. The bill amends tax code provisions to halt these specific tax rates, which would otherwise apply to their gross earnings from electricity and gas services. The suspension begins January 1, 2027, and remains in effect through 2035.