Electric Utility Tax Reform Act

[AI summary unavailable — showing source text] Electric Utility Tax Reform Act - Amends the Internal Revenue Code to exclude from the gross income of a regulated public utility any amount, including any gain from the sale or transfer of certain property, derived by such utility from a regulated electric trade or business. Imposes on any purchaser of electrical energy from a public utility a tax in an amount equal to 0.04 of a cent per kilowatt hour so purchased.…