HB 4001

A bill to be entitled
2An act relating to the Florida Climate Protection Act;
3repealing s. 403.44, F.S., relating to a cap-and-trade
4regulatory program to reduce greenhouse gas emissions
5from electric utilities; amending s. 366.8255, F.S.;
6conforming a cross-reference; providing an effective
9Be It Enacted by the Legislature of the State of Florida:
11     Section 1.  Section 403.44, Florida Statutes, is repealed.
12     Section 2.  Paragraph (d) of subsection (1) of section
13366.8255, Florida Statutes, is amended to read:
14     366.8255  Environmental cost recovery.-
15     (1)  As used in this section, the term:
16     (d)  "Environmental compliance costs" includes all costs or
17expenses incurred by an electric utility in complying with
18environmental laws or regulations, including, but not limited
20     1.  Inservice capital investments, including the electric
21utility's last authorized rate of return on equity thereon.
22     2.  Operation and maintenance expenses.
23     3.  Fuel procurement costs.
24     4.  Purchased power costs.
25     5.  Emission allowance costs.
26     6.  Direct taxes on environmental equipment.
27     7.  Costs or expenses prudently incurred by an electric
28utility pursuant to an agreement entered into on or after the
29effective date of this act and prior to October 1, 2002, between
30the electric utility and the Florida Department of Environmental
31Protection or the United States Environmental Protection Agency
32for the exclusive purpose of ensuring compliance with ozone
33ambient air quality standards by an electrical generating
34facility owned by the electric utility.
35     8.  Costs or expenses prudently incurred for the
36quantification, reporting, and third-party verification as
37required for participation in greenhouse gas emission registries
38for greenhouse gases as defined in s. 403.44.
39     8.9.  Costs or expenses prudently incurred for scientific
40research and geological assessments of carbon capture and
41storage conducted in this state for the purpose of reducing an
42electric utility's greenhouse gas emissions when such costs or
43expenses are incurred in joint research projects with Florida
44state government agencies and Florida state universities.
45     Section 3.  This act shall take effect July 1, 2012.

CODING: Words stricken are deletions; words underlined are additions.