1 | Representative Littlefield offered the following: |
2 |
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3 | Amendment to Amendment (413029) (with title amendment) |
4 | Remove lines 455-882 and insert: |
5 | 220.187, and those enumerated in ss. 220.192 and 220.193. |
6 | Section 12. Section 220.192, Florida Statutes, is created |
7 | to read: |
8 | 220.192 Renewable energy technologies investment tax |
9 | credit.-- |
10 | (1) DEFINITIONS.--For purposes of this section, the term: |
11 | (a) "Biodiesel" means biodiesel as defined in s. |
12 | 212.08(7)(ccc). |
13 | (b) "Eligible costs" means: |
14 | 1. Seventy-five percent of all capital costs, operation |
15 | and maintenance costs, and research and development costs |
16 | incurred between July 1, 2006, and June 30, 2010, up to a limit |
17 | of $3 million per state fiscal year for all taxpayers, in |
18 | connection with an investment in hydrogen-powered vehicles and |
19 | hydrogen vehicle fueling stations in the state, including, but |
20 | not limited to, the costs of constructing, installing, and |
21 | equipping such technologies in the state. |
22 | 2. Seventy-five percent of all capital costs, operation |
23 | and maintenance costs, and research and development costs |
24 | incurred between July 1, 2006, and June 30, 2010, up to a limit |
25 | of $1.5 million per state fiscal year for all taxpayers, and |
26 | limited to a maximum of $12,000 per fuel cell, in connection |
27 | with an investment in commercial stationary hydrogen fuel cells |
28 | in the state, including, but not limited to, the costs of |
29 | constructing, installing, and equipping such technologies in the |
30 | state. |
31 | 3. Seventy-five percent of all capital costs, operation |
32 | and maintenance costs, and research and development costs |
33 | incurred between July 1, 2006, and June 30, 2010, up to a limit |
34 | of $6.5 million per state fiscal year for all taxpayers, in |
35 | connection with an investment in the production, storage, and |
36 | distribution of biodiesel (B10-B100) and ethanol (E10-E100) in |
37 | the state, including the costs of constructing, installing, and |
38 | equipping such technologies in the state. Gasoline fueling |
39 | station pump retrofits for ethanol (E10-E100) distribution |
40 | qualify as an eligible cost under this subparagraph. |
41 | (c) "Ethanol" means ethanol as defined in s. |
42 | 212.08(7)(ccc). |
43 | (d) "Hydrogen fuel cell" means hydrogen fuel cell as |
44 | defined in s. 212.08(7)(ccc). |
45 | (2) TAX CREDIT.--For tax years beginning on or after |
46 | January 1, 2007, a credit against the tax imposed by this |
47 | chapter shall be granted in an amount equal to the eligible |
48 | costs. Credits may be used in tax years beginning January 1, |
49 | 2007, and ending December 31, 2010, after which the credit shall |
50 | expire. If the credit is not fully used in any one tax year |
51 | because of insufficient tax liability on the part of the |
52 | corporation, the unused amount may be carried forward and used |
53 | in tax years beginning January 1, 2007, and ending December 31, |
54 | 2012, after which the credit carryover expires and may not be |
55 | used. A taxpayer that files a consolidated return in this state |
56 | as a member of an affiliated group under s. 220.131(1) may be |
57 | allowed the credit on a consolidated return basis up to the |
58 | amount of tax imposed upon the consolidated group. Any eligible |
59 | cost for which a credit is claimed and which is deducted or |
60 | otherwise reduces federal taxable income shall be added back in |
61 | computing adjusted federal income under s. 220.13. |
62 | (3) CORPORATE APPLICATION PROCESS.--Any corporation |
63 | wishing to obtain tax credits available under this section must |
64 | submit to the Department of Environmental Protection an |
65 | application for tax credit that includes a complete description |
66 | of all eligible costs for which the corporation is seeking a |
67 | credit and a description of the total amount of credits sought. |
68 | The Department of Environmental Protection shall make a |
69 | determination on the eligibility of the applicant for the |
70 | credits sought and certify the determination to the applicant |
71 | and the Department of Revenue. The corporation must attach the |
72 | Department of Environmental Protection's certification to the |
73 | tax return on which the credit is claimed. The Department of |
74 | Environmental Protection shall be responsible for ensuring that |
75 | the corporate income tax credits granted in each fiscal year do |
76 | not exceed the limits provided for in this section. The |
77 | Department of Environmental Protection is authorized to adopt |
78 | the necessary rules, guidelines, and application materials for |
79 | the application process. |
80 | (4) TAXPAYER APPLICATION PROCESS.--To claim a credit under |
81 | this section, each taxpayer must apply to the Department of |
82 | Environmental Protection for an allocation of each type of |
83 | annual credit by the date established by the Department of |
84 | Environmental Protection. The application form may be |
85 | established by the Department of Environmental Protection and |
86 | shall include an affidavit from each taxpayer certifying that |
87 | all information contained in the application, including all |
88 | records of eligible costs claimed as the basis for the tax |
89 | credit, are true and correct. Approval of the credits under this |
90 | section shall be accomplished on a first-come, first-served |
91 | basis, based upon the date complete applications are received by |
92 | the Department of Environmental Protection. A taxpayer shall |
93 | submit only one complete application based upon eligible costs |
94 | incurred within a particular state fiscal year. Incomplete |
95 | placeholder applications will not be accepted and will not |
96 | secure a place in the first-come, first-served application line. |
97 | If a taxpayer does not receive a tax credit allocation due to |
98 | the exhaustion of the annual tax credit authorizations, then |
99 | such taxpayer may reapply in the following year for those |
100 | eligible costs and will have priority over other applicants for |
101 | the allocation of credits. |
102 | (5) ADMINISTRATION; AUDIT AUTHORITY; RECAPTURE OF |
103 | CREDITS.-- |
104 | (a) In addition to its existing audit and investigation |
105 | authority, the Department of Revenue may perform any additional |
106 | financial and technical audits and investigations, including |
107 | examining the accounts, books, and records of the tax credit |
108 | applicant, that are necessary to verify the eligible costs |
109 | included in the tax credit return and to ensure compliance with |
110 | this section. The Department of Environmental Protection shall |
111 | provide technical assistance when requested by the Department of |
112 | Revenue on any technical audits or examinations performed |
113 | pursuant to this section. |
114 | (b) It is grounds for forfeiture of previously claimed and |
115 | received tax credits if the Department of Revenue determines, as |
116 | a result of either an audit or examination or from information |
117 | received from the Department of Environmental Protection, that a |
118 | taxpayer received tax credits pursuant to this section to which |
119 | the taxpayer was not entitled. The taxpayer is responsible for |
120 | returning forfeited tax credits to the Department of Revenue, |
121 | and such funds shall be paid into the General Revenue Fund of |
122 | the state. |
123 | (c) The Department of Environmental Protection may revoke |
124 | or modify any written decision granting eligibility for tax |
125 | credits under this section if it is discovered that the tax |
126 | credit applicant submitted any false statement, representation, |
127 | or certification in any application, record, report, plan, or |
128 | other document filed in an attempt to receive tax credits under |
129 | this section. The Department of Environmental Protection shall |
130 | immediately notify the Department of Revenue of any revoked or |
131 | modified orders affecting previously granted tax credits. |
132 | Additionally, the taxpayer must notify the Department of Revenue |
133 | of any change in its tax credit claimed. |
134 | (d) The taxpayer shall file with the Department of Revenue |
135 | an amended return or such other report as the Department of |
136 | Revenue prescribes by rule and shall pay any required tax and |
137 | interest within 60 days after the taxpayer receives notification |
138 | from the Department of Environmental Protection that previously |
139 | approved tax credits have been revoked or modified. If the |
140 | revocation or modification order is contested, the taxpayer |
141 | shall file an amended return or other report as provided in this |
142 | paragraph within 60 days after a final order is issued following |
143 | proceedings. |
144 | (e) A notice of deficiency may be issued by the Department |
145 | of Revenue at any time within 3 years after the taxpayer |
146 | receives formal notification from the Department of |
147 | Environmental Protection that previously approved tax credits |
148 | have been revoked or modified. If a taxpayer fails to notify the |
149 | Department of Revenue of any changes to its tax credit claimed, |
150 | a notice of deficiency may be issued at any time. |
151 | (6) RULES.--The Department of Revenue shall have the |
152 | authority to adopt rules relating to the forms required to claim |
153 | a tax credit under this section, the requirements and basis for |
154 | establishing an entitlement to a credit, and the examination and |
155 | audit procedures required to administer this section. |
156 | (7) PUBLICATION.--The Department of Environmental |
157 | Protection shall determine and publish on a regular basis the |
158 | amount of available tax credits remaining in each fiscal year. |
159 | Section 13. Section 220.193, Florida Statutes, is created |
160 | to read: |
161 | 220.193 Florida renewable energy production credit.-- |
162 | (1) The purpose of this section is to encourage the |
163 | development and expansion of facilities that produce renewable |
164 | energy in Florida. |
165 | (2) As used in this section, the term: |
166 | (a) "Commission" shall mean the Public Service Commission. |
167 | (b) "Department" shall mean the Department of Revenue. |
168 | (c) "Expanded facility" shall mean a Florida renewable |
169 | energy facility that increases its electrical production and |
170 | sale by more than 5 percent above the facility's electrical |
171 | production and sale during the 2005 calendar year. |
172 | (d) "Florida renewable energy facility" shall mean a |
173 | facility in the state that produces electricity for sale from |
174 | renewable energy, as defined in s. 377.803. |
175 | (e) "New facility" shall mean a Florida renewable energy |
176 | facility that is operationally placed in service after May 1, |
177 | 2006. |
178 | (3) An annual credit against the tax imposed by this |
179 | section shall be allowed to a taxpayer, based on the taxpayer's |
180 | production and sale of electricity from a new or expanded |
181 | Florida renewable energy facility. For a new facility, the |
182 | credit shall be based on the taxpayer's sale of the facility's |
183 | entire electrical production. For an expanded facility, the |
184 | credit shall be based on the increases in the facility's |
185 | electrical production that are achieved after May 1, 2006. |
186 | (a) The credit shall be $0.01 for each kilowatt-hour of |
187 | electricity produced and sold by the taxpayer to an unrelated |
188 | party during a given tax year. |
189 | (b) The credit may be claimed for electricity produced and |
190 | sold on or after January 1, 2007. Beginning in 2008 and |
191 | continuing until 2011, each taxpayer claiming a credit under |
192 | this section must first apply to the department by February 1 of |
193 | each year for an allocation of available credit. The department, |
194 | in consultation with the commission, shall develop an |
195 | application form. The application form shall, at a minimum, |
196 | require a sworn affidavit from each taxpayer certifying the |
197 | increase in production and sales that form the basis of the |
198 | application and certifying that all information contained in the |
199 | application is true and correct. |
200 | (c) If the amount of credits applied for each year exceeds |
201 | $5 million, the department shall award to each applicant a |
202 | prorated amount based on each applicant's increased production |
203 | and sales and the increased production and sales of all |
204 | applicants. |
205 | (d) If the credit granted pursuant to this section is not |
206 | fully used in one year because of insufficient tax liability on |
207 | the part of the taxpayer, the unused amount may be carried |
208 | forward for a period not to exceed 5 years. The carryover credit |
209 | may be used in a subsequent year when the tax imposed by this |
210 | chapter for such year exceeds the credit for such year, after |
211 | applying the other credits and unused credit carryovers in the |
212 | order provided in s. 220.02(8). |
213 | (e) A taxpayer that files a consolidated return in this |
214 | state as a member of an affiliated group under s. 220.131(1) may |
215 | be allowed the credit on a consolidated return basis up to the |
216 | amount of tax imposed upon the consolidated group. |
217 | (f)1. Tax credits that may be available under this section |
218 | to an entity eligible under this section may be transferred |
219 | after a merger or acquisition to the surviving or acquiring |
220 | entity and used in the same manner with the same limitations. |
221 | 2. The entity or its surviving or acquiring entity as |
222 | described in subparagraph 1. may transfer any unused credit in |
223 | whole or in units of no less than 25 percent of the remaining |
224 | credit. The entity acquiring such credit may use it in the same |
225 | manner and with the same limitations under this section. Such |
226 | transferred credits may not be transferred again although they |
227 | may succeed to a surviving or acquiring entity subject to the |
228 | same conditions and limitations as described in this section. |
229 | 3. In the event the credit provided for under this section |
230 | is reduced as a result of an examination or audit by the |
231 | department, such tax deficiency shall be recovered from the |
232 | first entity or the surviving or acquiring entity to have |
233 | claimed such credit up to the amount of credit taken. Any |
234 | subsequent deficiencies shall be assessed against any entity |
235 | acquiring and claiming such credit, or in the case of multiple |
236 | succeeding entities in the order of credit succession. |
237 | (g) Notwithstanding any other provision of this section, |
238 | credits for the production and sale of electricity from a new or |
239 | expanded Florida renewable energy facility may be earned between |
240 | January 1, 2007 and June 30, 2010. The combined total amount of |
241 | tax credits which may be granted for all taxpayers under this |
242 | section is limited to $5 million per state fiscal year. |
243 | (h) A taxpayer claiming a credit under this section shall |
244 | be required to add back to net income that portion of its |
245 | business deductions claimed on its federal return paid or |
246 | incurred for the taxable year which is equal to the amount of |
247 | the credit allowable for the taxable year under this section. |
248 | (i) A taxpayer claiming credit under this section may not |
249 | claim a credit under s. 220.192. A taxpayer claiming credit |
250 | under s. 220.192 may not claim a credit under this section. |
251 | (4) The department may adopt rules to implement and |
252 | administer this section, including rules prescribing forms, the |
253 | documentation needed to substantiate a claim for the tax credit, |
254 | and the specific procedures and guidelines for claiming the |
255 | credit. |
256 | (5) This section shall take effect upon becoming law and |
257 | shall apply to tax years beginning on and after January 1, 2007. |
258 | Section 14. Paragraph (a) of subsection (1) of section |
259 | 220.13, Florida Statutes, is amended to read: |
260 | 220.13 "Adjusted federal income" defined.-- |
261 | (1) The term "adjusted federal income" means an amount |
262 | equal to the taxpayer's taxable income as defined in subsection |
263 | (2), or such taxable income of more than one taxpayer as |
264 | provided in s. 220.131, for the taxable year, adjusted as |
265 | follows: |
266 | (a) Additions.--There shall be added to such taxable |
267 | income: |
268 | 1. The amount of any tax upon or measured by income, |
269 | excluding taxes based on gross receipts or revenues, paid or |
270 | accrued as a liability to the District of Columbia or any state |
271 | of the United States which is deductible from gross income in |
272 | the computation of taxable income for the taxable year. |
273 | 2. The amount of interest which is excluded from taxable |
274 | income under s. 103(a) of the Internal Revenue Code or any other |
275 | federal law, less the associated expenses disallowed in the |
276 | computation of taxable income under s. 265 of the Internal |
277 | Revenue Code or any other law, excluding 60 percent of any |
278 | amounts included in alternative minimum taxable income, as |
279 | defined in s. 55(b)(2) of the Internal Revenue Code, if the |
280 | taxpayer pays tax under s. 220.11(3). |
281 | 3. In the case of a regulated investment company or real |
282 | estate investment trust, an amount equal to the excess of the |
283 | net long-term capital gain for the taxable year over the amount |
284 | of the capital gain dividends attributable to the taxable year. |
285 | 4. That portion of the wages or salaries paid or incurred |
286 | for the taxable year which is equal to the amount of the credit |
287 | allowable for the taxable year under s. 220.181. The provisions |
288 | of this subparagraph shall expire and be void on June 30, 2005. |
289 | 5. That portion of the ad valorem school taxes paid or |
290 | incurred for the taxable year which is equal to the amount of |
291 | the credit allowable for the taxable year under s. 220.182. The |
292 | provisions of this subparagraph shall expire and be void on June |
293 | 30, 2005. |
294 | 6. The amount of emergency excise tax paid or accrued as a |
295 | liability to this state under chapter 221 which tax is |
296 | deductible from gross income in the computation of taxable |
297 | income for the taxable year. |
298 | 7. That portion of assessments to fund a guaranty |
299 | association incurred for the taxable year which is equal to the |
300 | amount of the credit allowable for the taxable year. |
301 | 8. In the case of a nonprofit corporation which holds a |
302 | pari-mutuel permit and which is exempt from federal income tax |
303 | as a farmers' cooperative, an amount equal to the excess of the |
304 | gross income attributable to the pari-mutuel operations over the |
305 | attributable expenses for the taxable year. |
306 | 9. The amount taken as a credit for the taxable year under |
307 | s. 220.1895. |
308 | 10. Up to nine percent of the eligible basis of any |
309 | designated project which is equal to the credit allowable for |
310 | the taxable year under s. 220.185. |
311 | 11. The amount taken as a credit for the taxable year |
312 | under s. 220.187. |
313 | 12. The amount taken as a credit for the taxable year |
314 | under ss. 220.192 and 220.193. |
315 | Section 15. Subsection (2) of section 186.801, Florida |
316 | Statutes, is amended to read: |
317 | 186.801 Ten-year site plans.-- |
318 | (2) Within 9 months after the receipt of the proposed |
319 | plan, the commission shall make a preliminary study of such plan |
320 | and classify it as "suitable" or "unsuitable." The commission |
321 | may suggest alternatives to the plan. All findings of the |
322 | commission shall be made available to the Department of |
323 | Environmental Protection for its consideration at any subsequent |
324 | electrical power plant site certification proceedings. It is |
325 | recognized that 10-year site plans submitted by an electric |
326 | utility are tentative information for planning purposes only and |
327 | may be amended at any time at the discretion of the utility upon |
328 | written notification to the commission. A complete application |
329 | for certification of an electrical power plant site under |
330 | chapter 403, when such site is not designated in the current 10- |
331 | year site plan of the applicant, shall constitute an amendment |
332 | to the 10-year site plan. In its preliminary study of each 10- |
333 | year site plan, the commission shall consider such plan as a |
334 | planning document and shall review: |
335 | (a) The need, including the need as determined by the |
336 | commission, for electrical power in the area to be served. |
337 | (b) The effect on fuel diversity within the state. |
338 | (c)(b) The anticipated environmental impact of each |
339 | proposed electrical power plant site. |
340 | (d)(c) Possible alternatives to the proposed plan. |
341 | (e)(d) The views of appropriate local, state, and federal |
342 | agencies, including the views of the appropriate water |
343 | management district as to the availability of water and its |
344 | recommendation as to the use by the proposed plant of salt water |
345 | or fresh water for cooling purposes. |
346 | (f)(e) The extent to which the plan is consistent with the |
347 | state comprehensive plan. |
348 | (g)(f) The plan with respect to the information of the |
349 | state on energy availability and consumption. |
350 | Section 16. Subsection (6) of section 366.04, Florida |
351 | Statutes, is amended to read: |
352 | 366.04 Jurisdiction of commission.-- |
353 | (6) The commission shall further have exclusive |
354 | jurisdiction to prescribe and enforce safety standards for |
355 | transmission and distribution facilities of all public electric |
356 | utilities, cooperatives organized under the Rural Electric |
357 | Cooperative Law, and electric utilities owned and operated by |
358 | municipalities. In adopting safety standards, the commission |
359 | shall, at a minimum: |
360 | (a) Adopt the 1984 edition of the National Electrical |
361 | Safety Code (ANSI C2) as initial standards; and |
362 | (b) Adopt, after review, any new edition of the National |
363 | Electrical Safety Code (ANSI C2). |
364 |
|
365 | The standards prescribed by the current 1984 edition of the |
366 | National Electrical Safety Code (ANSI C2) shall constitute |
367 | acceptable and adequate requirements for the protection of the |
368 | safety of the public, and compliance with the minimum |
369 | requirements of that code shall constitute good engineering |
370 | practice by the utilities. The administrative authority referred |
371 | to in the 1984 edition of the National Electrical Safety Code is |
372 | the commission. However, nothing herein shall be construed as |
373 | superseding, repealing, or amending the provisions of s. |
374 | 403.523(1) and (10). |
375 | Section 17. Subsections (1) and (8) of section 366.05, |
376 | Florida Statutes, are amended to read: |
377 | 366.05 Powers.-- |
378 | (1) In the exercise of such jurisdiction, the commission |
379 | shall have power to prescribe fair and reasonable rates and |
380 | charges, classifications, standards of quality and measurements, |
381 | including the ability to adopt construction standards that |
382 | exceed the National Electrical Safety Code, for purposes of |
383 | ensuring the reliable provision of service, and service rules |
384 | and regulations to be observed by each public utility; to |
385 | require repairs, improvements, additions, replacements, and |
386 | extensions to the plant and equipment of any public utility when |
387 | reasonably necessary to promote the convenience and welfare of |
388 | the public and secure adequate service or facilities for those |
389 | reasonably entitled thereto; to employ and fix the compensation |
390 | for such examiners and technical, legal, and clerical employees |
391 | as it deems necessary to carry out the provisions of this |
392 | chapter; and to adopt rules pursuant to ss. 120.536(1) and |
393 | 120.54 to implement and enforce the provisions of this chapter. |
394 | (8) If the commission determines that there is probable |
395 | cause to believe that inadequacies exist with respect to the |
396 | energy grids developed by the electric utility industry, |
397 | including inadequacies in fuel diversity or fuel supply |
398 | reliability, it shall have the power, after proceedings as |
399 | provided by law, and after a finding that mutual benefits will |
400 | accrue to the electric utilities involved, to require |
401 | installation or repair of necessary facilities, including |
402 | generating plants and transmission facilities, with the costs to |
403 | be distributed in proportion to the benefits received, and to |
404 | take all necessary steps to ensure compliance. The electric |
405 | utilities involved in any action taken or orders issued pursuant |
406 | to this subsection shall have full power and authority, |
407 | notwithstanding any general or special laws to the contrary, to |
408 | jointly plan, finance, build, operate, or lease generating and |
409 | transmission facilities and shall be further authorized to |
410 | exercise the powers granted to corporations in chapter 361. This |
411 | subsection shall not supersede or control any provision of the |
412 | Florida Electrical Power Plant Siting Act, ss. 403.501-403.518. |
413 | Section 18. Section 366.92, Florida Statutes, is created |
414 | to read: |
415 | 366.92 Florida renewable energy policy.-- |
416 | (1) It is the intent of the Legislature to promote the |
417 | development of renewable energy; protect the economic viability |
418 | of Florida's existing renewable energy facilities; diversify the |
419 | types of fuel used to generate electricity in Florida; lessen |
420 | Florida's dependence on natural gas and fuel oil for the |
421 | production of electricity; minimize the volatility of fuel |
422 | costs; encourage investment within the state; improve |
423 | environmental conditions; and at the same time, minimize the |
424 | costs of power supply to electric utilities and their customers. |
425 | (2) For the purposes of this section, "Florida renewable |
426 | energy resources" shall mean renewable energy, as defined in s. |
427 | 377.803, that is produced in Florida. |
428 | (3) The commission may adopt appropriate goals for |
429 | increasing the use of existing, expanded, and new Florida |
430 | renewable energy resources. The commission may change the goals. |
431 | The commission may review and reestablish the goals at least |
432 |
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433 |
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434 | ======== T I T L E A M E N D M E N T ======== |
435 | Remove line 4339 and insert: |
436 | intent; providing definitions; authorizing the Florida |