Florida Senate - 2012                                     SB 648
       By Senator Hays
       20-00707-12                                            2012648__
    1                        A bill to be entitled                      
    2         An act relating to the Florida Climate Protection Act;
    3         repealing s. 403.44, F.S., relating to a cap-and-trade
    4         regulatory program to reduce greenhouse gas emissions
    5         from electric utilities; amending s. 366.8255, F.S.;
    6         conforming a cross-reference; providing an effective
    7         date.
    9  Be 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 Section 403.44, Florida Statutes, is repealed.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
   13  366.8255, 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
   17  expenses incurred by an electric utility in complying with
   18  environmental laws or regulations, including, but not limited
   19  to:
   20         1. Inservice capital investments, including the electric
   21  utility’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
   28  utility pursuant to an agreement entered into on or after the
   29  effective date of this act and prior to October 1, 2002, between
   30  the electric utility and the Florida Department of Environmental
   31  Protection or the United States Environmental Protection Agency
   32  for the exclusive purpose of ensuring compliance with ozone
   33  ambient air quality standards by an electrical generating
   34  facility owned by the electric utility.
   35         8. Costs or expenses prudently incurred for the
   36  quantification, reporting, and third-party verification as
   37  required for participation in greenhouse gas emission registries
   38  for greenhouse gases as defined in s. 403.44.
   39         8.9. Costs or expenses prudently incurred for scientific
   40  research and geological assessments of carbon capture and
   41  storage conducted in this state for the purpose of reducing an
   42  electric utility’s greenhouse gas emissions when such costs or
   43  expenses are incurred in joint research projects with Florida
   44  state government agencies and Florida state universities.
   45         Section 3. This act shall take effect July 1, 2012.