§ 5402a - Electric generating plant education property tax
§ 5402a. Electric generating plant education property tax
(a) There is assessed for the fiscal year July through June upon any operating electric generating plant subject to the tax under chapter 213 of this title, an education property tax in accordance with the following table:
If megawatt hour production is: tax is:
Less than 2,300,000 megawatt hours $1.465 million
2,300,000 to 3,800,000 megawatt hours $1.465 million plus $0.29 per
megawatt hour over 2,300,000
3,800,001 to 4,200,000 megawatt hours $1.9 million
Over 4,200,000 megawatt hours $1.9 million plus $0.29 per megawatt hour over 4,200,000
(b) If an entity subject to this tax generates no electricity during the tax year due to termination or expiration of a necessary license or due to permanent cessation of operations, no tax shall be due for that year.
(c) The tax imposed by this section shall be paid to the commissioner of taxes by the person or corporation then owning or operating such electric generating plant, one-half on December 1 and one-half on June 1 each year, for deposit into the education fund. A person or entity failing to make returns or pay the tax imposed by this section within the time required shall be subject to and governed by the provisions of sections 3202, 3203, 5868, and 5873 of this title.
(d) For purposes of this section, "megawatt hour production" means the average of net production for sale in the three most recent preceding calendar years. (Added 1999, No. 49, § 89; amended 2003, No. 50, § 2, eff. for taxes due in 2005 and after.)