Relating to an exemption from taxes imposed on the gross receipts of electricity sold to political subdivisions.

HB 2962 exempts electricity sales to local governments and public schools from a specific state tax on gross receipts. The bill amends the tax code to remove this tax for political subdivisions (like school districts and municipalities) purchasing electricity. It requires utility companies and retail providers to adjust billing for these entities to reflect the tax savings, effective September 1, 2025. This change directly affects local public entities that buy electricity, reducing their costs without altering tax rates.