§ 58.1-2902 Electric utility consumption tax relating to the special regulatory tax; when not assessed or assessed only in part
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
This law was first created in 1999. The record of its establishment is cataloged in chapter 971 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2001, chapter 748.
1999, c. 971; 2001, c. 748.