Aluminum smelter purchases of power

From the 2024 DOR Tax Exemption Study

82.16.0498 - Aluminum smelter purchases of power Description A business with gross income from the sale of electricity, natural gas or manufactured gas to an aluminum smelter is eligible for a credit against the PU tax owed. The contract for the sale of the electricity or gas must specify that the price charged for the electricity or gas will be reduced by an amount equal to the credit. Purpose To support the aluminum industry. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this credit would not increase revenue because currently no taxpayers exemption use it. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions No taxpayers currently use this credit. We expect no usage during the forecasted period of this study. Data Sources Department of Revenue, Excise tax data Additional Additional Information Information Category: Business Year Enacted: 2004 Primary Beneficiaries: The aluminum industry Taxpayer Count: 0 Program Inconsistency: None ev