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Date: Tue, 08 May 2001 08:52:01 -0500
From: "Tracey Bradley" <tbradley@bracepatt.com>
To: "Justin Long" <jlong@bracepatt.com>, "Paul Fox" <pfox@bracepatt.com>
Cc: "Deanna King" <dking@bracepatt.com>, "Dan Watkiss" 
<dwatkiss@bracepatt.com>, "Ronald Carroll" <rcarroll@bracepatt.com>
Subject: Calif State Senate Passes Windfall Profits Tax Bill
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FYI

Calif State Senate Passes Windfall Profits Tax Bill
Monday, May 07, 2001 08:48 PM ET


LOS ANGELES -(Dow Jones)- The California state Senate passed a measure Monday 
that would place a windfall-profits tax on sales of electricity into the 
state's wholesale electricity market.

The bill, SB1X, sponsored by state Sen. Nell Soto, D-Ontario, passed the 
Senate by a vote of 25-12. The legislation will now be sent to the Assembly.

The legislation would require state regulators to set a base price for 
wholesale electricity sold in California and generators would be taxed at 
100% above the base price for power sales that exceed that amount, according 
to the legislation.

(This story was originally published by Dow Jones Newswires)




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