FL H4001

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

Amends section 366.8255 to define "environmental compliance costs" for electric utilities, including capital investments, operation and maintenance, fuel and power costs, and emission allowance costs.

Adds provision allowing electric utilities to recover costs for scientific research and geological assessments of carbon capture and storage projects conducted in Florida in joint research with state government agencies and universities.

Removes reference to greenhouse gas emission registries previously defined in the repealed cap-and-trade program.

Takes effect July 1, 2012.