Bill Type
Congress Name
Long Title
AN ACT EXTENDING TAX EXEMPTION, PRIVILEGES AND ASSISTANCE TO RURAL ELECTRIC COOPERATIVES AS A MATTER OF STATE POLICY TO AID THE PROGRAM IMPLEMENTATION ON TOTAL ELECTRIFICATION
Date filed
August 4, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB02130 | |
| FULL TITLE : AN ACT EXTENDING TAX EXEMPTION, PRIVILEGES AND ASSISTANCE TO RURAL ELECTRIC COOPERATIVES AS A MATTER OF STATE POLICY TO AID THE PROGRAM IMPLEMENTATION ON TOTAL ELECTRIFICATION | |
| ABSTRACT : The bill provides that for a period of 50 years from the date of cooperative organization as a non-stock entity operating as a public entity, rural electric cooperatives (RECs) shall be exempt from the payment of: a) all national and local taxes and fees including but not limited to franchise, realty and business taxes; and b) all duties or imposts on foreign materials, equipment and goods acquired for the operation of the RECs. | |
| PRINCIPAL AUTHOR/S : VALDEZ, EDGAR L. | |
| DATE FILED : 2004-08-04 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. Pablo | 2. Madamba |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2004-08-10 |
Abstract
The bill provides that for a period of 50 years from the date of cooperative organization as a non-stock entity operating as a public entity, rural electric cooperatives (RECs) shall be exempt from the payment of: a) all national and local taxes and fees including but not limited to franchise, realty and business taxes; and b) all duties or imposts on foreign materials, equipment and goods acquired for the operation of the RECs.'
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Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.