Comprehensive Electricity Competition Tax Act

[AI summary unavailable — showing source text] Comprehensive Electricity Competition Tax Act - Title I: Amendments to Internal Revenue Code - Amends the Internal Revenue Code with respect to tax-exempt private activity bonds to declare that the determination whether any electric output facility bond issued before enactment of this Act (pre-effective date electric output facility bond) is a private activity bond shall be made without regard to any specified permissible competitive action taken by the issuer. Requires such a bond not to be a private activity bond or industrial development bond as of the date of enactment of this Act. Makes this Act inapplicable to any qualified refunding bond meeting certain criteria which is issued to refund a pre-effective date electric output facility bond if the net proceeds of the refunding bond are used within 90 days of issuance to redeem the refunded bond. Qualifies for tax exemption private activity bonds for electric output facilities issued after enactment of this Act, excluding any part of an issue for distribution property that operates at 69 kilovolts or less. Modifies special rules for nuclear decommissioning costs to eliminate cost-of-service as the maximum which a taxpayer may pa…