HB 229 Summary

• Creates section 159.810 requiring the Division of Bond Finance to review private activity bond allocation for potential additional or reallocation of bonds for water and wastewater infrastructure projects.

• Extends sales tax exemptions to investor-owned water and wastewater utilities owned or operated by Florida corporations whose sole or primary function is to construct, maintain, or operate water/wastewater systems.

• Exempts persons who resell water service to tenants or individually metered residents for fees not exceeding actual purchase price plus 9 percent or actual meter reading and billing costs from Florida Public Service Commission regulation.

• Establishes quality standards for water and wastewater services, including compliance with secondary drinking water standards; authorizes the commission to impose penalties up to 100 basis point return reduction on equity if utilities fail to address service quality problems.

• Allows automatic rate increases or decreases without hearings based on specified expense items (utility rates, electric power costs, ad valorem taxes, environmental permits, testing costs, loan fees, and license fees) with 45 days notice to the commission; permits the Department of Environmental Protection to make loans and grants to for-profit privately owned or investor-owned water systems.