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)

Benson Hospital

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

Arizona Farm Bureau Federation

Town of Pima

Safford Unified School District

Graham County Board of Supervisors

Southeastern Arizona Community Action Program

Tom Brady, Mayor of Bullhead City

Supervisor Hildy Angius, Mohave County

City of Bullhead City

 

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