HB 4117 Summary

• Repeals section 403.44 of Florida Statutes, which established a cap-and-trade regulatory program to reduce greenhouse gas emissions from electric utilities

• Removes from environmental compliance costs definition the requirement for electric utilities to report costs for quantification, reporting, and third-party verification related to greenhouse gas emission registries

• Adds carbon capture and storage research costs as recoverable environmental compliance expenses when utilities conduct joint research projects with Florida state agencies and universities

• Amends section 366.8255 to conform cross-references following the repeal of the cap-and-trade program

• Takes effect July 1, 2011