SB 1272- Relating to Florida Renewable Energy Production Credit
On Tuesday, February 2nd, SB 1272, relating to Florida Renewable Energy Production Credit, by Senator Dorothy Hukill (R-Port Orange) was heard before the Senate Communications, Energy, and Public Utilities Committee and passed with 7 yeas and 0 nays. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this bill.
SB 1272 makes the Florida renewable energy production credit statute, that was set to expire in 2017, permanent and increases the annual cap on the total credits from the current $10 million to $15 million per year. This bill also deletes a provision that states any unused credit funding in a fiscal year is to be used to fund renewable energy technologies and replaces it with a provision to carry forward the excess funds.
The next committee stop for SB 1272 will be in the Senate Finance and Tax Committee.
AIF supports legislation that will make the Florida renewable energy production credit permanent due to the cost savings it would provide Florida companies and due to it helping to diversify Florida's energy portfolio.