ABX 128 - Follow Up

Following up on my previous e-mail regarding ABX 128, I now expect it to
include the following provisions.

1. The tax will be on excess gross receipts from electrical energy
distribution.
2. The tax will be imposed on the person making the first sale of
electrical power in or into CA for consumer consumption.
3. The tax will be based upon the amount by which the gross receipts
from the sale exceed the amount that would have
been received if the sale had been made at a specified "base price" (to
be determined by the PUC).
4. There will be a rebuttable presumption that the base price
represents afair sales price.
5. There will be a withholding mechnism of this excess tax from the
purchasers, other than purchasers who are residential
consumers or small business users.
6. It will require sellers to file annual tax returns to report the tax
on excess gross receipts and pay any remaining taxes
due.
7. It will allow sellers to file a claim for refund in an attempt to
rebut the presumption that the base price was a fair sales
price.
8. Provide certain nexus standards to California to provide the basis
to impose tax liability.
9. Include a 5-year sunset date.