278.150 Payment of assessments -- Certification of deduction by commission --

274 words·~1 min read·/ky/278-150

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Administration of funds collected.

(1)The commission shall, on or before June 1, certify to the Department of Revenue

and the Finance and Administration Cabinet the amount of intrastate business of

each utility in the state subject to its jurisdiction during the previous calendar year.

The commission shall, when certifying the intrastate sales of retail electric

suppliers, deduct from such sales one-half (1/2) of the applicable wholesale power

costs, provided the utility from which such wholesale power purchases were made

pays assessment on the full wholesale value of its gross intrastate sales in Kentucky.

When certifying the intrastate sales of retail electric suppliers not subject to the

jurisdiction of the commission for rates, the commission shall deduct one-half (1/2)

of their actual intrastate sales. All utilities classified as retail electric suppliers shall

pay assessments based on the amount of intrastate sales less deductions as certified

by the commission.

(2)The Finance and Administration Cabinet shall, on or before June 10, establish the

assessment rate and give written notification thereof to the Department of Revenue

and the commission. The Department of Revenue shall collect and pay the

assessment into the State Treasury to the credit of the general expenditure fund. All

such assessments shall be paid into the State Treasury through the Department of

Revenue on or before July 31 of the year in which the assessments are made.

(3)If any amount in the special fund for the maintenance of the commission remains

unexpended at the end of any fiscal year, that amount shall not lapse, but shall

remain credited to the account of the commission and may be used during any

succeeding year.