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The Committee on Finance and Tax (Haridopolos) recommended the

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following amendment:

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     Senate Amendment (with title amendment)

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     Between line(s) 859 and 860,

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insert:

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     Section 17.  Paragraph (j) is added to subsection (3) of

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section 220.193, Florida Statutes, to read:

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     220.193  Florida renewable energy production credit.--

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

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

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production and sale of electricity from a new or expanded Florida

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

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

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electrical production. For an expanded facility, the credit shall

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

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that are achieved after May 1, 2006.

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     (j) The credit shall be allowed to a corporation that owns

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a partnership or limited liability company that has elected to be

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treated as a partnership for federal income tax purposes when the

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partnership or limited liability company produces and sells

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electricity from a new or expanded renewable energy facility. If

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the partnership or limited liability company that produces or

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sells the electricity is owned by more than one corporation, the

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value of the credit shall be prorated among the owners in the

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same manner as items of income and expense are prorated for

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federal income tax purposes.

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     Section 18. It is the intent of the Legislature that s.

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220.193(3)(j), Florida Statutes, as created by this act, is

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remedial in nature and applies retroactively to the effective

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date of the law establishing the credit.

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     On line(s) 58, after the first semicolon,

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insert:

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amending s. 220.193, F.S.; allowing a corporation that

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owns a partnership or limited liability company that

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produces and sells electricity from a new or expanded

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renewable energy facility to claim a renewable energy

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production credit; providing for proration among multiple

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owners; providing for retroactive application;

3/24/2008  2:36:00 PM     26-05560-08