The proposed bill establishes a tax credit program in Florida aimed at promoting resilient buildings, which are defined as those meeting specific Leadership in Energy and Environmental Design (LEED) certifications. Building owners can apply for a tax credit against their tax liability, limited to one claim per building, by submitting an application to the Department of Business and Professional Regulation by March 1 of the year following their building's LEED certification. The bill details the application requirements, including documentation of LEED certification and energy use reporting, and specifies the tax credit amounts based on the level of LEED certification achieved. Additionally, the bill sets a cap on the total tax credits authorized at $50 million per taxable year.

To support the implementation of this program, the bill creates the Florida Resilient Building Advisory Council, which will consist of representatives from various educational institutions and sectors related to resilient building design and construction. The council will provide policy recommendations and evaluate the tax credit program's effectiveness every four years. Members will be appointed by the Governor, the President of the Senate, and the Speaker of the House of Representatives, with staggered initial terms. The bill also amends existing statutes to facilitate information sharing between the Department of Revenue and the Department of Business and Professional Regulation, updates the order of tax credits applied against corporate income and franchise taxes, and modifies the definition of adjusted federal income to include the resilient building tax credit. The act is set to take effect on July 1, 2026.

Statutes affected:
S 992 Filed: 220.02, 220.13