Attached is the EWS Tax Group's analysis of the California Assembly's current version of the proposed excise tax on "excess gross receipts" payable to electricity marketers selling power into California.  Suffice it to say that it is a poorly thought out proposal.  I am working with the EWS Legal Department and Legislative Affairs Group to provide them the Tax Group's assessment of matters and will keep you apprised as things progress (or, hopefully, not).  As of today, Assembly Bill No. 128 is in committee and has not yet been passed by the Assembly (the Bill that has been discussed as having been passed is Senate Bill No. 1, which Bill is inconsistent with Assembly Bill No. 128 and, therefore, will have to be reconciled with it at some later point).  I will forward under cover of separate E-mail our analysis of Senate Bill No. 1.   Best regards.  SHD.