10-1-302 - Purpose and intent.
10-1-302. Purpose and intent.
The Legislature finds that:
(1) the energy industry has previously been highly regulated and monopolistic;
(2) municipalities have historically raised general fund revenues by collecting franchiseand business license revenues from the energy industry;
(3) substantial restructuring of the energy industry has created an opportunity forincreased competition within the energy industry;
(4) the restructuring of the energy industry has diminished the effectiveness and fairnessof the revenues collected by municipalities;
(5) to provide for a stable revenue source for municipalities and to create a morecompetitive environment for the energy industry, it is necessary to enact taxing authority formunicipalities that accomplishes those goals; and
(6) this part does not alter or affect the municipalities' authority to grant or regulatefranchises, or to control municipal streets, highways, or other property.
Enacted by Chapter 280, 1996 General Session