FL S1386

Creates section 159.810 requiring the Division of Bond Finance to review allocation of private activity bonds to determine availability for water and wastewater infrastructure projects.

Extends sales tax exemptions to investor-owned water and wastewater utilities operated by Florida corporations whose sole or primary function is constructing, maintaining, or operating water or wastewater systems in the state.

Exempts persons who resell water service to tenants or individually metered residents from Public Service Commission regulation if the resale fee does not exceed the actual purchase price plus 9 percent or the actual cost of meter reading and billing.

Establishes criteria for the Public Service Commission to evaluate water quality based on secondary drinking water standards (taste, odor, color, corrosiveness) and wastewater service quality based on odor, noise, aerosol drift, and lighting impacts; authorizes penalties including fines and up to 100 basis point reduction in return on equity for non-compliance.

Expands automatic rate adjustment procedures for utilities to include additional specified expense items (tank inspections, operator licenses, permit fees, loan service fees for eligible infrastructure projects) and establishes new limitations on rate case expense recovery, capping awards at the total approved rate increase.

Allows the Department of Environmental Protection and Florida Water Pollution Control Financing Corporation to provide loans and grants to for-profit privately owned or investor-owned water systems by removing previous restrictions.