(a)A franchise tax, measured by gross receipts, is…#
(a) A franchise tax, measured by gross receipts, is imposed, for each calendar year, on each public service company:
(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…#
(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;
(3) a nonprofit electric cooperative; or
(4) a public-private partnership formed for the generation of clean or renewable energy if:
(i)30% or more of the electricity generated through the…#
(i) 30% or more of the electricity generated through the public-private partnership is purchased by the public partner; and