Relating to taxation; providing for state paid refunds to electric public utilities for taxes paid on personal property, providing for application to the commissioner of revenue; exempting personal property of new electric generating plants built after a certain date used to generate electric power from taxation, defining personal property, excluding electric substation property, providing for a partial exemption for existing power plants under certain nameplate capacity increase conditions; authorizing counties, cities and towns to impose a fee on utilities with tax exempt personal property, requiring negotiation of the fee with the utility before construction of the new facility, specifying certain market value and tax rate determination and certification requirements of the commissioner and specifying the formula for determination of a maximum annual fee; requiring electric utilities to notify the public utilities commission of property tax obligation reductions and the amount of local government fees, requiring the PUC to annually equally reduce utility rates by the full amount of the tax reduction and the commissioner of the PUC to allow utilities to recover fees in rates (ra)