The bill amends K.S.A. 79-5a01 to redefine the terms "public utility" or "public utilities" to include various entities involved in the ownership, brokering, or marketing of natural gas inventories, as well as those engaged in transportation and distribution of commodities, electric power generation, and water transmission for profit. Notably, the bill specifies that the definition excludes certain entities, such as rural water districts, oil or natural gas production gathering lines within a single county, and natural gas storage facilities constructed after January 1, 2026, among others.

Additionally, the bill updates the applicability of the provisions to all taxable years commencing after December 31, 2025, instead of the previously stated date of December 31, 2008. It also repeals the existing K.S.A. 79-5a01, indicating a complete overhaul of the previous legal framework governing public utilities in Kansas. The act will take effect upon its publication in the statute book.

Statutes affected:
As introduced: 79-5a01