Florida Alternative Fuel or AFV Researcher
Alternative Fuels Production Incentive
The Innovation Incentive Program was created within the Florida Office of Tourism, Trade, and Economic Development to provide resources for business projects that allow the state to effectively compete for high-value research and development, including alternative and renewable energy projects. To qualify, an alternative and renewable energy project must involve collaboration with an institution of higher education; provide the state a minimum full return on investment within a 20-year period; include matching funds provided by the applicant or other available sources; and be located in the state of Florida. Additional criteria may apply. For the purposes of this incentive, alternative and renewable energy means electrical, mechanical, or thermal energy produced from a method that uses one or more of the following energy sources: ethanol, cellulosic ethanol, biobutanol, biodiesel, biomass, biogas, hydrogen fuel cells, ocean energy, hydrogen, solar, hydro, wind, or geothermal. Incentive awards are subject to state funding availability. This program has not been funded for 2009; however, federal funding may be available through the Florida Energy and Climate Commission to support selected state energy grant programs. (Reference Florida Statutes 288.1089)
Renewable Energy Grants
The Renewable Energy and Energy-Efficient Technologies Grants Program and Farm to Fuel Grants Program provide matching grants for demonstration, commercialization, research, and development projects related to renewable energy technologies or bioenergy. Incentive awards are subject to state funding availability. These programs have not been funded for 2009; however, federal funding may be available through the Florida Energy and Climate Commission to support selected state energy grant programs. (Reference Florida Statutes 377.804 and 570.957)
Hydrogen and Biofuels Tax Exemption
Through July 1, 2010, the sale or use of the following is exempt from Florida state sales, rental, use, consumption, distribution, and storage tax: 1) hydrogen powered vehicles and related materials, and hydrogen fueling stations, up to a maximum of $2 million in taxes per fiscal year in aggregate; 2) materials used in the distribution of biodiesel (B10-B100) and ethanol (E10-E100), including fueling infrastructure, transportation, and storage, up to a maximum of $1 million in taxes per fiscal year for all taxpayers. Gasoline fueling station dispenser retrofits for ethanol (E10-E100) distribution also qualify for this exemption. (Reference Florida Statutes 212.08)
Point of Contact
Kelley Smith
Chief Analyst and Grant Manager
Florida Energy and Climate Commission
Phone (850) 487-4644
Fax (850) 922-9701
kelley.smith@eog.myflorida.com
http://myfloridaclimate.com/climate_quick_links/florida_energy_climate_commission
Hydrogen and Biofuels Investment Tax Credit
An income tax credit is available for costs incurred between July 1, 2006, and June 30, 2010, for the following: 1) 75% of all capital, operation and maintenance, and research and development costs incurred in connection with an investment in hydrogen-powered vehicles and hydrogen vehicle fueling stations in the state, up to a maximum of $3 million per fiscal year for all taxpayers; and 2) 75% of all capital operation and maintenance, and research and development costs incurred in connection with an investment in the production, storage, and distribution of biodiesel (B10-B100) and ethanol (E10-E100) in the state, up to a maximum of $6.5 million per fiscal year for all taxpayers. This includes the costs of constructing, installing, and equipping such technologies; gasoline fueling station dispenser retrofits for ethanol (E10-E100) distribution also qualify.Credits may be used in tax years through December 31, 2010. If the credit is not fully used in any one tax year because of insufficient tax liability on the part of the corporation, the unused amount may be carried forward through December 31, 2012. Any entity that is allowed the investment tax credit may transfer the credit, in whole or in part, to any taxpayer by written agreement without transferring ownership interest in the qualified property.
(Reference Florida Statutes 220.192)
Point of Contact
Kelley Smith
Chief Analyst and Grant Manager
Florida Energy and Climate Commission
Phone (850) 487-4644
Fax (850) 922-9701
kelley.smith@eog.myflorida.com
http://myfloridaclimate.com/climate_quick_links/florida_energy_climate_commission
Provision for Renewable Fuels Investment
In order to create jobs and improve the state's general infrastructure, the Florida State Board of Administration may identify and invest up to 1.5% of the net assets of the system trust fund in technology and growth investments of businesses operating in Florida, including biofuels, renewable energy, and other related applications. The State Board of Administration may offer opportunities to small, state-based investment management firms to facilitate their development and growth. (Reference Senate Bill 215.47)
State Energy and Climate Commission
The Florida Energy and Climate Commission (FECC) was created through the state's 2008 comprehensive energy legislation, which aims to reduce greenhouse gas emissions and encourage investment in alternative and renewable energy technologies. The FECC's responsibilities include administering financial incentive programs, completing annual assessments of Florida's Energy and Climate Change Action Plan, and providing recommendations to the Governor and the Legislature on energy and climate change policies. The FECC also works cooperatively with other state entities to develop state energy and climate change policies and programs. (Reference Florida Statutes 377.6015)
Point of Contact
Kelley Smith
Chief Analyst and Grant Manager
Florida Energy and Climate Commission
Phone (850) 487-4644
Fax (850) 922-9701
kelley.smith@eog.myflorida.com
http://myfloridaclimate.com/climate_quick_links/florida_energy_climate_commission
