Compensation policy for tax exempt property in theory and practice: comment. [Payments in lieu of]
Journal Article
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· Land Econ.; (United States)
OSTI ID:6546094
The TVA Act (section 13, as amended) provides that with some exclusions, TVA may pay up to 5% of its gross revenues to states and counties within its legal region. The payment made to counties (no provision is made for other local governments) is equivalent to county taxes paid prior to acquisition by TVA, for lands containing power-related facilities, reservoirs, and underground coal reserves. No provision is made to update this payment, despite the fact that most TVA lands were acquired decades ago. Once these payments are subtracted from the 5% fund, the remainder is allocated to the state level government, with one-half based on each state's share of power sales and one-half based on the book value of TVA property.
- Research Organization:
- Oak Ridge National Lab., TN
- OSTI ID:
- 6546094
- Journal Information:
- Land Econ.; (United States), Journal Name: Land Econ.; (United States) Vol. 57:4; ISSN LAECA
- Country of Publication:
- United States
- Language:
- English
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Payments in lieu of taxes. Hearing before the Subcommittee on the Environment and Land Resources of the Committee on Interior and Insular Affairs, United States Senate, Ninety-Fourth Congress, Second Session on S. 3468 and H. R. 9719, August 27, 1976
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Book
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OSTI ID:7318697
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· J. Energy Dev.; (United States)
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OSTI ID:5525094
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