CS/CS/CS/HB 1351 - Renewable Energy Source Devices

• Excludes the value of renewable energy source devices installed on or after January 1, 2013 (residential) and January 1, 2018 (all other properties) from property assessed values and ad valorem taxation through December 31, 2037.

• Creates Part II of Chapter 520 regulating "Distributed Energy Generation System Sales" with comprehensive disclosure requirements for agreements to sell or lease energy generation systems.

• Requires sellers who install distributed energy generation systems to comply with safety standards established by the Department of Business and Professional Regulation under chapters 489 and 553.

• Mandates that agreements include 29 specific disclosures in at least 12-point type, covering total cost, payment schedules, tax incentives, system specifications, warranties, financing terms, rescission rights, and property liens or UCC filings.

• Establishes penalties for willful violations as noncriminal violations punishable by fines up to the cost of the system, with owners able to recover finance charges, fees, and attorney costs; requires Department to publish standard disclosure forms by January 1, 2018.