(i) a county;

(ii) a municipal corporation; or

(iii) a nonprofit electric cooperative.]

8-402.

(A) A franchise tax, measured by gross receipts, is imposed, for each calendar
year, on each public service company [doing]:

(1) ENGAGED IN A TELEPHONE business in the State; OR

(2) ENGAGED IN THE TRANSMISSION, DISTRIBUTION, OR DELIVERY OF
ELECTRICITY OR NATURAL GAS IN THE STATE.

(B) THE TAX IMPOSED UNDER SUBSECTION (A) OF THIS SECTION DOES NOT
APPLY TO A PUBLIC SERVICE COMPANY THAT IS:

(1) A COUNTY;

(2) A MUNICIPAL CORPORATION; OR

(3) A NONPROFIT ELECTRIC COOPERATIVE.

8-402.1.

(A) (1) IN ADDITION TO ANY TAX IMPOSED UNDER § 8-402 OF THIS
SUBTITLE, A FRANCHISE TAX IS IMPOSED FOR EACH CALENDAR YEAR ON EACH
PUBLIC SERVICE COMPANY ENGAGED IN THE TRANSMISSION, DISTRIBUTION, OR
DELIVERY OF ELECTRICITY OR NATURAL GAS IN THE STATE.

(2) THE TAX IMPOSED UNDER THIS SECTION IS MEASURED BY
KILOWATT HOURS OF ELECTRICITY OR DEKATHERMS THERMS OF NATURAL GAS
DELIVERED BY THE PUBLIC SERVICE COMPANY FOR FINAL CONSUMPTION IN THE
STATE.

(B) THE TAX IMPOSED UNDER SUBSECTION (A) OF THIS SECTION DOES NOT
APPLY TO DEKATHERMS THERMS OF NATURAL GAS DELIVERED FOR FINAL
CONSUMPTION BY A PUBLIC SERVICE COMPANY THAT IS:

(1) A COUNTY; OR

(2) A MUNICIPAL CORPORATION.

8-403.

(A) The [public service company franchise tax] rate OF THE FRANCHISE TAX
IMPOSED UNDER § 8-402 OF THIS SUBTITLE is 2% of gross receipts derived from
business in the State.

(B) THE RATE OF THE TAX IMPOSED UNDER § 8-402.1 OF THIS SUBTITLE IS:

(1) 0.065 0.062 CENTS FOR EACH KILOWATT HOUR OF ELECTRICITY
DELIVERED BY THE PUBLIC SERVICE COMPANY FOR FINAL CONSUMPTION IN THE
STATE; AND