AN ACT relating to revenue and taxation.
     Create a new section of KRS Chapter 136 to provide definitions; create a new section of KRS Chapter 136 to impose a tax of one-tenth of one cent per kilowatt hour of electricity generated by a merchant power plant located in Kentucky; create a new section of KRS Chapter 136 to provide that any merchant power plant subject to the tax shall register with the cabinet; create a new section of KRS Chapter 136 to provide that the tax shall be remitted quarterly to the cabinet; create a new section of KRS Chapter 136 to provide that the cabinet shall assess any underpayment of tax within four years; create a new section of KRS Chapter 136 to provide for offset of overpayments; create a new section of KRS Chapter 136 to require taxpayers to keep records for five years; create a new section of KRS Chapter 136 to provide that tax due shall bear interest at the tax interest rate; create a new section of KRS Chapter 136 to provide for refunds or credits; create a new section of KRS Chapter 136 to provide that the Revenue Cabinet shall administer the tax; create a new section of KRS Chapter 136 to provide that the cabinet may require security to be placed with the cabinet; create a new section of KRS Chapter 136 to provide personal and individual liability provisions for tax liabilities for officers of corporations, managers of a limited liability company, and the partners of a registered limited liability partnership; create a new section of KRS Chapter 136 to provide for penalties; and amend KRS 141.0405 to conform.

     Mar 4-introduced in House
     Mar 5-to Appropriations and Revenue (H)
     Mar 11-posting waived
     Mar 20-reported favorably, 1st reading, to Calendar with Committee Substitute
     Mar 21-2nd reading, to Rules
     Mar 28-posted for passage in the Regular Orders of the Day for Friday, March 29, 2002