No. HB 1305
Filed under Taxes & Budget.
Resilient Buildings; Authorizes owners of resilient buildings to receive certain tax credits; provides requirements for tax credit application, receipt, amounts, eligibility, & use; creates Florida Resilient Building Advisory Council; provides duties & requirements for membership of such council.
Plain English Summary
AI-GENERATEDOwners of buildings with LEED silver, gold, or platinum certification meeting the resilience pathway can claim a property tax credit. The credit ranges from 50 cents to $2 per square foot annually, depending on the certification level and type.
The Department of Business and Professional Regulation will process applications and issue eligibility letters. Owners must report annual energy use data to the department for the duration of the credit period to maintain eligibility.
A new Florida Resilient Building Advisory Council is created to advise the department and Legislature on policies to enhance building resiliency and hurricane preparedness across the state.
The total amount of tax credits granted under this program is capped at $50 million per fiscal year, with approvals issued on a first-come, first-served basis.
AICreates a new tax credit for owners of buildings with LEED resilience certification, allowing them to reduce their state tax liability or sell the credit to another taxpayer.
AISets the value of the tax credit based on the level of LEED certification, ranging from 50 cents to $2 per square foot annually for five years.
AILimits the total amount of tax credits that can be granted in any single fiscal year to $50 million, with new applications deferred if the cap is reached.
AIEstablishes a new state advisory council to provide recommendations on policies for resilient buildings and hurricane resiliency, with a mandatory sunset date in 2029.
AIAllows building owners to transfer unused tax credits to other taxpayers or carry them forward for up to five years if their own tax liability is insufficient.
AIRequires credit recipients to report their building's energy use annually to the Department of Business and Professional Regulation, with failure to report resulting in the rescission of the credit.