VOL. 126 | NO. 230 | Thursday, November 24, 2011
TVA Tax Equivalents in 2011 Total $530 Million
KNOXVILLE (AP) – The Tennessee Valley Authority has paid $530 million in tax equivalent payments in fiscal year 2011 to states and local governments where it sells electricity or has power properties.
TVA records show that's down from $550 million in fiscal year 2010, due mainly to decreased sales revenue.
A TVA statement said the payments are made in eight states where it sells electricity or owns generating plants, transmission lines or other assets, and to 144 local governments where it has acquired power facilities.
The TVA board approved the final payment for 2011 and an estimated 7 percent increase for this fiscal year.
Tennessee received the largest 2011 payout at $321.5 million, followed by Alabama at $115.5 million, Kentucky at $46.5 million, Mississippi at $33 million, Georgia at $8.5 million, North Carolina at $2.7 million and Virginia at $1.2 million.
Illinois gets $450,000.
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