SB 5542-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

     Authorizes sales and use tax exemptions for air pollution control facilities acquired or installed by a light and power business at thermal electric peaking plants.

     Declares that the exemption is limited to the installation or acquisition of a qualifying facility and does not apply to servicing, maintenance, operation, or repairs of a thermal electric peaking plant or of an air pollution control facility.

     Expires June 30, 2011.