Co-ops for Communities
Grand Canyon State Electric Cooperative Association (GCSECA) is working to help cooperatives retain their Capital Credits instead of having to surrender the money to the state. Planned legislation, designed to counteract a 2016 state ruling, will create an exemption from the state’s abandoned property laws, similar to 34 other states where cooperatives operate.
Retired Patronage Capital Credits that were not claimed or were returned to the cooperative because the members or former members could not be found, have historically been retained by the cooperatives and used for various beneficial programs, including youth scholarships, educational opportunities and assistance for low-income cooperative members. In 2016, the Arizona Department of Revenue (ADOR) issued a ruling claiming that these resources fall under the state’s unclaimed property act and thus, should be remitted to the state rather than staying with cooperatives to benefit rural communities. This ruling reversed decades of guidance an interpretation from the department allowing for the establishment of these programs.
In 2018, GCSECA will (once again) be taking the lead to introduce legislation to provide an exemption for returned capital credit payments from Arizona’s unclaimed property laws, so the cooperatives will be able to keep these resources local.
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FACTS ABOUT PATRONAGE CAPITAL
FROM THE COMMUNITY
CO-OPS FOR COMMUNITIES SUPPORTERS
Grand Canyon State Electric Cooperative Association
Anza Electric Cooperative
Duncan Valley Electric Cooperative
Graham County Electric Cooperative
Mohave Electric Cooperative
Navopache Electric Cooperative
Sulphur Springs Valley Electric Cooperative
Trico Electric Cooperative
Arizona Generation and Transmission Cooperatives
Sierra Vista Unified School District
Arizona Community Action Association
Wellton-Mohawk Irrigation and Drainage District
Arizona Municipal Power Users Association (AMPUA)
Salt River Project (SRP)
Arizona Public Service (APS)
Tucson Electric Power (TEP)
Boys and Girls Club of Sierra Vista (Jay Hamwright)
First Baptist Church (Willcox)
Tylene Miller – Athletic Director – St. David High School
Veterans Resource Centers of America – Mohave County Branch
River Fund Inc.
Bullhead Area Chamber of Commerce
Southern Arizona Economic Development Council (SAEDG)
Marana Chamber of Commerce
Boy Scouts of America – Catalina Council
John T. Jones – Dir. Of CTE, Marana Unified School District
Kristin Reidy – Asst. Superintendent, Marana Unified School District
Sahuarita Unified School District
Oro Valley Chamber of Commerce
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