The bill amends various sections of Florida Statutes concerning the Florida Public Service Commission (PSC) to enhance transparency and accountability. It increases the number of commissioners from five to seven, requiring specific qualifications for two members, including one certified public accountant and one chartered financial analyst. The bill mandates that all PSC orders provide adequate support for their conclusions and rationale for settlement agreements. Additionally, it requires the commission to maintain the allowable return on equity for public utilities close to the risk-free rate and justify any upward deviations. Other provisions include a schedule for rate change requests, an annual report to the Governor and Legislature on economic analyses related to rate changes, and criteria for determining qualifying nonprofit organizations exempt from commission jurisdiction.

Furthermore, the bill establishes a process for the PSC to assess whether an organization qualifies as a nonprofit, allowing organizations 90 days to address any adverse determinations before being regulated as utilities. It also modifies the Rural Infrastructure Fund to allow grants for significant portions of infrastructure project costs in rural areas and specifies eligible uses of these funds. The Municipal Solid Waste-to-Energy Program is amended to restrict grant fund usage for certain electric power sales, and definitions related to utilities are updated. The bill is set to take effect on July 1, 2025.

Statutes affected:
S 354 Filed: 350.01, 366.06, 366.81, 366.82
S 354 c1: 350.01, 366.07, 367.022, 288.0655, 377.814, 624.105