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Jennifer -
Please make sure that Vicki gets regular updates of both bills. Thanks. Jim -----Original Message----- From: Thome, Jennifer Sent: Wednesday, September 05, 2001 5:09 PM To: Steffes, James D. Subject: FW: ABX2 1 Jim: It looks like the second "windfall tax" bill (ABX2 1 - Corbett) may be heard as early as tomorrow (see Scott's message below). Among other things, this bill: - Creates a Tax on Excess Gross Receipts from Electrical Energy Distribution and imposes the tax on the person making the first sale of electrical power in CA for consumption. -Establishes a three-tiered tax system. The measure of the tax is 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 price (base price) - the "excess gross receipts" (ESRs). -Sets the initial base price at $60/MWhr *Have you been in touch with Vicki Sharp regarding this bill (in addition to the other windfall tax bill we summarized for her - SBX2 1)? I can send her a summary of the Corbett bill, if you would like. Jennifer -----Original Message----- From: "Scott Govenar" <sgovenar@govadv.com<@ENRON Sent: Wed 9/5/2001 3:47 PM To: Thome, Jennifer Cc: Subject: RE: ABX2 1 Jennifer, Unfortunately. It is ABX2 2 however and I would expect the bill to be heard as early as tomorrow. Scott -----Original Message----- From: Thome, Jennifer [ <mailto:Jennifer.Thome@ENRON.com<] Sent: Wednesday, September 05, 2001 11:46 AM To: sgovenar@govadv.com Subject: ABX2 Thanks. I just saw the revised ABX2 1 (Corbett) windfall tax bill. According to the Web, it was revised and is on its way to a 3rd reading. Is it correct that it has been changed to require a simple majority and thus may be passed more quickly? I will pass on your response to our commercial folks... Thanks, Jennifer -----Original Message----- From: "Scott Govenar" <sgovenar@govadv.com<@ENRON Sent: Tue 9/4/2001 12:21 PM To: Thome, Jennifer Cc: Subject: RE: Legislation Jennifer, To the best of my knowledge, Enron has not produced a document outlining the implications of the windfall profits tax bills. The opposition letter which Enron provided me, dealt solely with the constitutional issues. What has been conveyed to me unofficially, is that several of the companies will likely sue if one or both become law. With respect to 2, supposedly Corbett is reviewing potential amendments to make hers a simply majority vote bill in order to move it. I will look at the revised matrix shortly. Scott -----Original Message----- From: Thome, Jennifer [ <mailto:Jennifer.Thome@ENRON.com< <<mailto:Jennifer.Thome@ENRON.com<< ] Sent: Tuesday, September 04, 2001 9:50 AM To: sgovenar@govadv.com Cc: Steffes, James D. Subject: Legislation Scott: I have updated the attached matrix that: 1) reflects legislative developments I read about in today and Friday's trade mags; 2) highlights the bills that seem of particular importance to Enron. Please review and let me know your input. Again, the goal is to identify the key bills and review them regularly during the Tuesday and Thursday CA calls. Also, are you aware of whether we have analyzed the implications of and differences between the two windfall profits tax bills (ABX 2 2 - Corbett and SBX2 1)? Our retail folks are very interested in the tax issue, and I have been asked to provide them with updates and information. Thanks, Jennifer <<matrix 9-4.xls<< ********************************************************************** This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you. ********************************************************************** - winmail.dat <<winmail.dat<<
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