1

Senator Saunders moved the following amendment:

2

3

     Senate Amendment (with directory and title amendments)

4

     Delete line(s) 1114-1182

5

and insert:

6

     Section 12.  Paragraphs (f) and (g) of subsection (2),and

7

paragraphs (j) and (k) of subsection (3) of section 220.193,

8

Florida Statutes, are added to read:

9

     220.193  Florida renewable energy production credit.--

10

     (2)  As used in this section, the term:

11

     (f) "Sale" or "sold" includes the use of electricity by the

12

producer of such electricity which decreases the amount of

13

electricity that the producer would otherwise have to purchase.

14

     (g) "Taxpayer" includes a general partnership, limited

15

partnership, limited liability company, trust, or other

16

artificial entity in which a corporation, as defined in s.

17

220.03(1)(e), owns an interest and is taxed as a partnership or

18

is disregarded as a separate entity from the corporation under

19

chapter 220.

20

     (3)  An annual credit against the tax imposed by this

21

section shall be allowed to a taxpayer, based on the taxpayer's

22

production and sale of electricity from a new or expanded Florida

23

renewable energy facility. For a new facility, the credit shall

24

be based on the taxpayer's sale of the facility's entire

25

electrical production. For an expanded facility, the credit shall

26

be based on the increases in the facility's electrical production

27

that are achieved after May 1, 2006.

28

     (j) When an entity treated as a partnership or a disregarded

29

entity under this chapter produces and sells electricity from a

30

new or expanded renewable energy facility, the credit earned by

31

such entity shall pass through in the same manner as items of

32

income and expense pass through for federal income tax purposes.

33

When an entity applies for the credit and the entity has received

34

the credit by a pass through, the application must identify the

35

taxpayer that passed through the credit, all taxpayers that

36

received the credit, the percentage of the credit, that passes

37

through to each recipient, and provide other information that the

38

department requires.

39

     (k) A taxpayer's use of the credit granted pursuant to this

40

section does not reduce the amount of any credit available to

41

such taxpayer under s. 220.186.

42

     Section 13. It is the intent of the Legislature that the

43

amendments to s. 220.193, Florida Statutes; are remedial in

44

nature and apply retroactively to the effective date of the law

45

establishing the credit.

4/16/2008  6:06:00 PM     EP.37.07884