The bill clarifies the responsibilities of the state regarding the valuation and assessment of independent power producer property for ad valorem taxation. It introduces a new provision that mandates the state to annually value and assess property belonging to independent power producers, specifically those operating facilities for the generation or transmission of electricity for wholesale. Additionally, the bill requires the state to provide information related to this valuation and assessment to the county assessor upon written request, ensuring that this information remains confidential.

To protect the confidentiality of the valuation data, the bill stipulates that any individual receiving this information must sign an agreement with the department to maintain its confidentiality. It also emphasizes that no current or former officials or employees of the state or its political subdivisions, including county assessors, are permitted to disclose any information obtained under this provision. The act is set to take effect immediately upon the completion of all necessary legislative procedures.

Statutes affected:
Introduced: 39-13-102