Florida Senate - 2013                        COMMITTEE AMENDMENT
       Bill No. CS for CS for SB 1594
       
       
       
       
       
       
                                Barcode 753256                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  04/16/2013           .                                
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       The Committee on Community Affairs (Soto) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 283 and 284
    4  insert:
    5         Section 2. Section 489.1451, Florida Statutes, is created
    6  to read:
    7         489.1451 Qualified energy conservation bond allocation.—
    8         (1) DEFINITIONS.—As used in this section, the term:
    9         (a) “Department” means the Department of Agriculture and
   10  Consumer Services.
   11         (b) “Eligible issuer” means an entity that is created under
   12  or pursuant to the constitution or laws of this state and that
   13  is authorized by this state to issue bonds or enter into a
   14  lease-purchase agreement, or any other entity in this state
   15  authorized to issue qualified energy conservation bonds pursuant
   16  to the Internal Revenue Code.
   17         (c) “Qualified energy conservation bond” means a bond
   18  described in 26 U.S.C. s. 54D(a).
   19         (d) “Qualified project” means a project permitted to be
   20  financed pursuant to 26 U.S.C. s. 54D(f).
   21         (2) PURPOSE.—The purpose of this section is to allocate the
   22  state volume limitation provided under 26 U.S.C. s. 54D for
   23  qualified energy conservation bonds issued to finance qualified
   24  projects.
   25         (3) ALLOCATION OF STATE VOLUME LIMITATION.—
   26         (a) The department shall establish an allocation program
   27  for allocating or reallocating the qualified energy conservation
   28  bond volume limitation provided by 26 U.S.C. s. 54D. The
   29  allocation program must provide notification of all mandatory
   30  allocations required or authorized pursuant to the Internal
   31  Revenue Code.
   32         1. All mandatory allocations pursuant to 26 U.S.C. s.
   33  54D(e)(2)(A) shall be allocated to eligible issuers as provided
   34  for therein.
   35         2. An eligible issuer receiving a mandatory allocation
   36  pursuant to subparagraph 1. may elect to reallocate all or any
   37  portion of its allocation back to the state pursuant to 26
   38  U.S.C. s. 54D(e)(2)(B).
   39         (b) The department may reallocate to eligible issuers in
   40  the state any allocation that was retained by the state from the
   41  original federal allocation or any allocation that is waived by
   42  an eligible issuer pursuant to subparagraph 2. Such reallocation
   43  shall be based on objective criteria established by the
   44  department which must be considered in determining whether to
   45  grant such discretionary requests for allocation, including, but
   46  not limited to, the reduction in energy consumption by the
   47  qualified project; the number of persons to be served by such
   48  project; the investment payback period of the proposed project;
   49  the economic benefit to be gained from the project; the number
   50  of jobs created or retained due to the project, the duration of
   51  such jobs, the estimated annual wages for such jobs, and the
   52  number of jobs the project applicant already employs in the
   53  state; the environmental benefits of the project, such as water
   54  conservation, greenhouse gas reduction, or storm water
   55  reduction; the impact on diversification of energy generation
   56  and transportation sources in the state; the impact on aging
   57  infrastructure; and the level of critical economic concern in
   58  the area in which the project is located.
   59         (c) Each eligible issuer receiving an allocation shall
   60  notify the department in writing of the amount of bonds issued
   61  and other information relating to the bonds or the allocation at
   62  such time and in such manner as is required by the department.
   63         (d) A bond subject to the limitations provided in 26 U.S.C.
   64  s. 54D may not be issued in this state unless issued pursuant to
   65  this section.
   66         (4) INFORMATION AVAILABILITY.—The department shall
   67  determine the amount of qualified energy conservation bond
   68  allocations for each qualified issuer in this state under 26
   69  U.S.C. s. 54D and shall make such information available upon
   70  request to any person or agency.
   71  
   72  ================= T I T L E  A M E N D M E N T ================
   73         And the title is amended as follows:
   74         Delete line 30
   75  and insert:
   76         language; creating s. 489.1451, F.S.; providing a
   77         purpose; providing definitions; requiring the
   78         Department of Agriculture and Consumer Services to
   79         establish a program for allocating or reallocating the
   80         qualified energy conservation bond volume limitation;
   81         providing for the allocation or reallocation of
   82         qualified energy conservation bonds; requiring the
   83         department to make certain information available upon
   84         request; providing an effective date.