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>>

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