FL S0776

Creates Section 159.8105 requiring the Division of Bond Finance to review allocation of private activity bonds and determine availability 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 or wastewater systems in the state.

Exempts persons who resell water service to tenants or individually metered residents from Public Service Commission regulation if fees do not exceed actual purchase price plus costs of meter reading and billing, capped at 9 percent of actual service cost.

Authorizes the Public Service Commission to create utility reserve funds for infrastructure repair and replacement, establishes criteria for automatic rate adjustments for specified expense items (including purchased water rates, electric power, ad valorem taxes, environmental permits, and biosolids disposal fees), and limits utilities to recovering only 50 percent of reasonable rate case expenses.

Prohibits utilities from recovering rate case expenses for attorney fees or outside consultant fees when receiving staff assistance in rate proceedings unless the Office of Public Counsel or interested parties intervene, and prevents utilities from recovering amortized rate case expenses for more than one rate case simultaneously.