FL S0648

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

Removes the provision allowing electric utilities to recover costs for quantification, reporting, and third-party verification required for participation in greenhouse gas emission registries.

Retains and renumbers the provision allowing utilities to recover prudently incurred costs for scientific research and geological assessments of carbon capture and storage conducted in joint projects with Florida state government agencies and universities.

Amends section 366.8255, F.S., to conform cross-references following the repeal of the cap-and-trade program.

Takes effect July 1, 2012.