Florida Senate - 2016                                    SB 1272
       By Senator Hukill
       8-01182A-16                                           20161272__
    1                        A bill to be entitled                      
    2         An act relating to the Florida renewable energy
    3         production credit; amending s. 220.193, F.S.; deleting
    4         the time limit for the renewable energy production
    5         credit against the corporate income tax; revising the
    6         total amount of tax credits which may be granted to
    7         taxpayers per state fiscal year; revising the
    8         permissible use of certain unallocated credit amounts;
    9         deleting an obsolete provision relating to
   10         applicability; providing an effective date.
   12  Be It Enacted by the Legislature of the State of Florida:
   14         Section 1. Paragraphs (b) and (g) of subsection (3) and
   15  subsection (8) of section 220.193, Florida Statutes, are amended
   16  to read:
   17         220.193 Florida renewable energy production credit.—
   18         (3) An annual credit against the tax imposed by this
   19  section shall be allowed to a taxpayer, based on the taxpayer’s
   20  production and sale of electricity from a new or expanded
   21  Florida renewable energy facility. For a new facility, the
   22  credit shall be based on the taxpayer’s sale of the facility’s
   23  entire electrical production. For an expanded facility, the
   24  credit shall be based on the increases in the facility’s
   25  electrical production that are achieved after May 1, 2012.
   26         (b) The credit may be claimed for electricity produced and
   27  sold on or after January 1, 2013. Beginning in 2014 and
   28  continuing until 2017, Each taxpayer claiming a credit under
   29  this section must apply to the Department of Agriculture and
   30  Consumer Services by the date established by the Department of
   31  Agriculture and Consumer Services for an allocation of available
   32  credits for that year. The application form shall be adopted by
   33  rule of the Department of Agriculture and Consumer Services in
   34  consultation with the commission. The application form shall, at
   35  a minimum, require a sworn affidavit from each taxpayer
   36  certifying the increase in production and sales that form the
   37  basis of the application and certifying that all information
   38  contained in the application is true and correct.
   39         (g) Notwithstanding any other provision of this section,
   40  credits for the production and sale of electricity from a new or
   41  expanded Florida renewable energy facility may be earned between
   42  January 1, 2013, and June 30, 2016. The combined total amount of
   43  tax credits which may be granted for all taxpayers under this
   44  section is limited to $15 million per state fiscal year $5
   45  million in state fiscal year 2012-2013 and $10 million per state
   46  fiscal year in state fiscal years 2013-2014 through 2016-2017.
   47  If the annual tax credit authorization amount is not exhausted
   48  by allocations of credits within that particular state fiscal
   49  year, any authorized but unallocated credit amounts may be
   50  carried forward used to grant credits that were earned pursuant
   51  to s. 220.192 but unallocated due to a lack of authorized funds.
   52         (8) This section shall take effect upon becoming law and
   53  shall apply to tax years beginning on and after January 1, 2013.
   54         Section 2. This act shall take effect July 1, 2016.