CODE OF VIRGINIA

ELECTRIC UTILITY CONSUMPTION TAX RELATING TO THE SPECIAL REGULATORY TAX; WHEN
NOT ASSESSED OR ASSESSED ONLY IN PART (§ 58.1-2902)

A. The Commission may in the performance of its function and duty in levying the
electric utility consumption tax relating to the special regulatory tax, omit
the levy on any portion of the tax fixed in § 58.1-2900 as is unnecessary
within the Commission’s sole discretion for the accomplishment of the
objects for which the tax is imposed, including a reasonable margin in the
nature of a reserve fund.

B. The Commission shall notify each provider of billing services, as defined in
subsection E of § 58.1-2901, collecting the tax on consumers of electricity of
any change in the electric utility consumption tax relating to the special
regulatory tax not later than the first day of the second month preceding the
month in which the revised rate is to take effect.

HISTORY: 1999, c. 971; 2001, c. 748.