Requires a city, town, or code city, for each annexation by the city or town, to provide notification by certified mail or electronic means to the light and power businesses and the gas distribution businesses at least sixty days before the effective date of the annexation.

Requires the county treasurer to remit to the city or town only the road taxes, fire district taxes, and library district taxes collected sixty days or more after receipt of the notification.

Requires the light and power businesses and the gas distribution businesses to remit to the city or town only the utility taxes collected sixty days or more after receipt of the notification.