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Court Reverses State Utilities Board's Refund Order
Publication year - 1992
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.1002/j.1551-8833.1992.tb07313.x
Subject(s) - appeal , order (exchange) , state (computer science) , federal court , law , business , public administration , economics , political science , finance , supreme court , computer science , algorithm
In 1987, Iowa enacted a law to cover adjustments to utility rates as a result of the effects of the Tax Reform Act of 1986. That federal law lowered the tax rates of utilities from 46 to 34 percent. GTE North Inc., a public utility, pursuant to the Iowa law elected to file a general rate change rather than filing revised rates to reflect the change in state and federal taxes. In December 1987, the state utilities board ordered GTE to file a refund plan for the period July 1 to Dec. 28, 1987, on account of delayed implementation of lower tax rates. The trial court upheld the board's order. However, on appeal, the decision was reversed.