Revenue and taxation; level 1 freeport exemptions for certain goods in inventory for electric utilities; provide

Summary

The bill changes the state tax code so that electric utilities can claim a level‑1 freeport exemption for inventory used in building or maintaining power infrastructure. It also sets new summary and record‑keeping requirements for all entities seeking the exemption. The change aims to give utilities tax relief on equipment and parts while ensuring transparency for tax officials.

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