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People’s Trust Insurance Offers Tips for Tax Savings Available to Florida Homeowners

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People’s Trust Insurance (PTI) recognizes that purchasing a house is most people’s biggest investment. With tax season now officially underway, the company is offering tips to help Floridians take advantage of tax deductions available only to homeowners.
Everything from mortgage interest and property taxes to new energy-efficient property and moving expenses can be deducted, potentially saving a homeowner thousands of dollars when they submit their tax forms to IRS. The last day to file income taxes this year is April 18.
“Our company is all about helping Floridians protect their most important asset, and there are many ways homeowners can use their house to save on taxes,” said George Schaeffer, the company’s Chief Executive Officer. “These tips can be a silver lining for homeowners in the midst of what is often a stress-filled time.”
Although homeowner’s insurance itself is generally not tax-deductible, there are two major exceptions: There may be a deduction available if you use your home for business with a home office, or if you rent out part of your home or own separate rental property.
Florida homeowners who itemize their taxes are eligible for a number of other tax deductions or credits, simply by virtue of owning a home. These include:

  • Mortgage interest deduction – A credit is available for the interest portion of your mortgage payments. Check your monthly mortgage statement for how much interest you paid in 2016.
  • Residential energy-efficient property credit – This is offered for homeowners who made their homes more energy efficient in 2016. The IRS website contains specifics on this potential credit.
  • Non-business energy property credit – This credit is available for Florida homeowners to offset some of the costs of qualified energy efficiency improvements, such as insulation, specific roofing materials, exterior doors, and windows and skylights.
  • Moving expenses – If you moved to start a new job in 2016, you may be able to deduct reasonable moving expenses. To qualify, you must have moved at least 50 miles and worked fulltime for at least 39 weeks in your new location.
  • Casualty, disaster and theft loss – Many Floridians were impacted by the hurricanes that hit Florida. If you suffered a loss that was the result of a sudden, unexpected or unusual event – not just a hurricane, but other kinds of storms or even theft – you may be able to deduct uncompensated losses relating to your home and valuables.
  • Property taxes – Property taxes may be unavoidable when you own a house, but the amount you paid in 2016 can be used as a deduction on your federal income taxes.

These are just some of the deductions and credits available to homeowners. More information is available at www.irs.gov.
About People’s Trust Insurance
Founded in 2008, People’s Trust Insurance has emerged as one of Florida’s top 10 home insurance companies, providing affordable Florida homeowner’s insurance rates and benefits not available anywhere else. Honored with the 2013 Enterprise Florida Governor’s Innovators in Business Award, People’s Trust provides a “Better Way” for over 145,000 Floridians to insure their homes. With more than 600 employees in its family of companies and an affiliation with Florida’s largest residential insurance restoration general contractor, People’s Trust is Florida’s best-prepared home insurance company and a full partner in policyholders’ recovery after loss.

Amendment 4 implementation bill passes committee unanimously

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Legislation enacts property tax exemptions for solar and renewable energy source devices

Senate Bill 90, renewable energy source devices, passed the Senate Committee on Communications, Energy, and Public Utilities today. The bill passed with unanimous support. If adopted, the legislation will exempt solar and renewable energy devices from property tax in Florida.
“Floridians expect access to more renewable energy in the Sunshine State,” stated Senator Brandes. “This bill will further encourage growth in clean energy jobs in our state. We will be in a better position to take advantage of increased energy diversity while addressing environmental concerns. Florida should be a leader in solar, and the passage of this bill brings us one step closer to that reality.”
The bill implements Amendment 4, which passed with 73 percent support by the voters on the 2016 primary election. The bill exempts solar and renewable energy devices from property taxes on real and tangible personal property installed on commercial and industrial property. This reflects an extension of the existing exemption in law for solar and renewable energy devices on residential property. The proposal encourages expansion of solar and renewable energy production in Florida, complimenting an industry that has experienced significant growth in recent years. The tax exemption of the bill will begin in 2018 and extend for 20 years.
For more information on SB 90 please visit http://www.flsenate.gov/Session/Bill/2017/0090
 

Moffitt Cancer Center Asks Lawmakers to Increase Cigarette Tax Funding

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State Representative James Grant and State Senator Dana Young
join Moffitt to announce bill, share cancer center expansion plans

Moffitt Cancer Center Executive Vice President and Center Director Thomas A. Sellers, Ph.D., MPH, was joined by State Rep. James Grant and State Sen. Dana Young today to announce a new bill asking lawmakers for an $8 million increase in the annual funding that the cancer center receives from Florida’s cigarette tax. The additional funding would be used to replace a nearly 30 year old research building with a new, state-of-the-art facility on Moffitt’s Magnolia Campus at the University of South Florida in Tampa.

“Moffitt was established by the state to provide Floridians with access to world-class cancer care. In order to keep pace with the needs of our state’s aging population and continue to develop new discoveries and treatments for cancer, expanding and updating Moffitt’s facilities is critical,” said Sellers. 

“Moffitt’s longstanding partnership with the State of Florida has been crucial to improving cancer care for our citizens and educating the next generation of healthcare professionals. Increasing the funds Moffitt receives from the cigarette tax will allow the cancer center to continue making a lasting impact in Florida and beyond,” said Rep. Grant. 

“Moffitt is a tremendous asset to the State of Florida. An increase in funding to this world-class facility will provide an amazing return on investment as its physicians and researchers continue to pursue innovative breakthroughs in the fight to cure cancer,” said Sen. Young. 

The new research building is part of a larger 10-year expansion plan that was announced by Moffitt late last year. The plan calls for several new buildings, hospital renovations and the creation of more than 750 new jobs.

Today’s announcement was part of the 12th annual Moffitt Day, which brings more than 50 volunteers, including patients, caregivers, physicians and researchers to the State Capitol in support of Moffitt. Advocates meet with lawmakers, sharing Moffitt’s mission to eradicate cancer and asking for continued state support for Florida’s premier cancer center. This year, Moffitt was joined by Cindy Gruden, wife of ESPN analyst Jon Gruden. Both are longtime champions of the cancer center. Cindy is a member of Moffitt’s Foundation Board of Directors. 

“Moffitt is all about teamwork. Their team comes together day after day to give their patients the best game plan to battle cancer. Jon and I are proud to support this organization and spread the word about the amazing advances they are making in the prevention and cure of this disease,” said Gruden.

Moffitt is the No. 6 cancer hospital in the United States. It is also the only Florida-based cancer center to receive the prestigious Comprehensive Cancer Center designation from the National Cancer Institute. Moffitt is also committed to educating the next generation of Florida-trained physicians, scientists and health care professionals. The cancer center trains more students in the field of oncology than all other Florida institutions, with more than 2,000 student rotations annually. 

About Moffitt Cancer Center
Moffitt is dedicated to one lifesaving mission: to contribute to the prevention and cure of cancer. The Tampa-based facility is one of only 47 National Cancer Institute-designated Comprehensive Cancer Centers, a distinction that recognizes Moffitt’s excellence in research, clinical trials, prevention and cancer control. Moffitt is the No. 6 cancer hospital in the nation and has been listed in U.S. News & World Report as one of the “Best Hospitals” for cancer care since 1999. Moffitt devotes more than 2.5 million square feet to research and patient care. Moffitt’s expert nursing staff is recognized by the American Nurses Credentialing Center with Magnet® status, its highest distinction. With more than 5,200 team members, Moffitt has an economic impact in the state of $2.1 billion. For more information, call 1-888-MOFFITT (1-888-663-3488), visit MOFFITT.org, and follow the momentum on Facebook, Twitter and YouTube. 

Senator Powell Legislation Aimed at Reducing the Number of Children Prosecuted as Adults Poised for Next Hearing

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Legislation sponsored by state Senator Bobby Powell, (D-Riviera Beach), that would dramatically overhaul the way children are fast tracked into the adult prison system received its first green light on Monday, and is poised for its next committee stop.

SB 192 would bring greater transparency into the criminal justice system by requiring prosecutors to document their decisions to prosecute children as adults, a process known as “direct file.”  Direct filing children as adults has been an intense topic in the state of Florida as studies such as the 2015 Marshall Project have shown that Florida direct files more children than any other state. A study by the Centers for Disease Control and Prevention has also shown that children prosecuted as adults are 34 percent more likely to recidivate. 

“In the past, the direct filing of children as adults in the courts was the fallback position by officials who found it easier to dehumanize kids than work to solve the problems driving the behavior,” said Powell. “This bill reflects a new attitude that kids aren’t disposable, that warehousing them in adult prisons is not a solution, and that redemption and rebirth are possible.” 

The bill would create a uniform system throughout the state of Florida based on the child’s age at the time of the crime and on the type of offense committed.  Additionally, SB 192 lists criteria that must be used when state attorneys utilize their discretion to prosecute youth as adults, prevents youth who are prosecuted as adults from losing their future civil rights, and eliminates possession of drugs among other non-violent offenses as justification to direct file. 

Senator Powell’s measure, which passed on a 5 to 3 vote out of the Senate Criminal Justice Committee on Monday, now awaits a hearing before the Senate Appropriations Subcommittee on Criminal and Civil Justice, its second of three scheduled Senate committee stops. 

PSC Approves Settlement Agreement for Peoples Gas System

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The Florida Public Service Commission (PSC) today approved a Settlement Agreement offered by Peoples Gas System (Peoples Gas or Company) and the Office of Public Counsel (OPC), who represents Peoples Gas customers, that keeps base rates in place through 2020.

“The Settlement Agreement protects customers from any base rate increase through 2020,” said PSC Chairman Julie Brown.  “It also provides an opportunity for Peoples Gas to manage some critical projects, such as the environmental cleanup of its manufactured gas plants and replacement of plastic pipes.”

The Settlement Agreement stemmed from Peoples Gas’ original petition for approval of its 2016 Depreciation Study. OPC filed its response, proposing further adjustments to Peoples Gas depreciation rates. On December 15, 2016, Peoples Gas and OPC filed a Settlement Agreement outlining how their proposed adjustment of depreciation rates and modification to the Company’s return on equity would occur.  With the PSC’s approval, the agreement allows for the following terms:

  • Peoples Gas will not file a request for a general base rate proceeding before December 31, 2020, unless its earnings fall below 9.25 percent.
  • Establishes new depreciation rates and certain depreciation reserve transfers that are expected to result in a reduction in 2016 depreciation expense of $16.1 million.
  • Accelerates recovery of environmental cleanup and monitoring costs associated with former manufactured gas plants–old industrial facilities at which gas was produced from coal, oil, and other feedstocks. 
  • Expands Peoples Gas’ current accelerated cast iron and bare steel pipe replacement program to include “problematic plastic pipe” replacements,  which includes certain types of plastic pipe that was manufactured before 1983 and which have been found to become brittle under certain conditions.

Peoples Gas, Florida’s largest natural gas distribution utility, serves about 370,000 customers in Florida.

For additional information, visit www.floridapsc.com.

Follow the PSC on Twitter, @floridapsc.

Statement by Vote Solar After Passage of Senate Bill 90 in Legislative Committee Today

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Sunshine State Continuing to Show Gains in Solar Energy

Vote Solar, an advocacy organization working to make solar a mainstream energy resource across the U.S., issues the following statement today in response to legislative activity in Florida. 

“We applaud Senator Jeff Brandes for his continued leadership on solar energy development in Florida. He is a true champion for solar and today helped assure unanimous passage of Senate Bill 90 in the first legislative committee meeting. Senate Bill 90 will help to unlock the sunshine state’s full solar potential,” said Scott Thomasson, Director of New Markets for Vote Solar. 

“This bill comes at just the right time to grow the market in Florida, as The Solar Foundation announced today that Florida gained 1,700 solar jobs in 2016. Florida voters sent a clear mandate with 73 percent of voters agreeing to remove tax penalties on solar, and now it’s up to our state legislators to implement Amendment 4 into law by passing Senate Bill 90.”

Vote Solar is a non-profit organization working to foster economic development and energy independence by bringing solar energy to the mainstream nationwide. Learn more at www.votesolar.org

Governor Rick Scott Recognizes Tyler Montgomery with Young Entrepreneur Award

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During a meeting of the Florida Cabinet today, Governor Rick Scott recognized Tyler Montgomery, 25, with the Young Entrepreneur Award. Tyler is the President of Mont Motorsports, an automotive company that fabricates, builds and sells aftermarket performance parts and vehicles. Mont Motorsports was founded in 2015 and is located in Panama City. 

Governor Rick Scott said, “I am proud to present the Young Entrepreneur Award to Tyler Montgomery for his accomplishments. At only 25, Tyler demonstrates the hard work and dedication needed to be a successful businesses owner and will undoubtedly create more opportunities in his community. We are fighting to make our state the best place in the nation for businesses so entrepreneurs like Tyler can continue to succeed in our state.” 

Tyler Montgomery, President of Mont Motorsports said, “I’m honored to receive the Governor’s Young Entrepreneur Award today. At Mont Motorsports, we work hard to create a strong relationship with our customers and provide a marketplace that offers thousands of performance parts, all in one location. Thanks to the support of my team and customers, we continue to succeed and grow in the Panama City area.”

For more about Mont Motorsports, click HERE. 

To learn more about the Governor’s Young Entrepreneur Award, visit HireFloridaGrads.com.

Governor Rick Scott and Volunteer Florida Present Champion of Service Award

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During a meeting of the Florida Cabinet today, Governor Rick Scott and Volunteer Florida CEO Chester Spellman awarded D.J. Brickler III, M.D. with the Volunteer Florida Champion of Service Award, Florida’s official statewide volunteer recognition for individuals and organizations.

Governor Scott said, “It is an honor to recognize Dr. Brickler for his extraordinary work in the Tallahassee community and for his most recent project, the Air Force Red Tail Project Exhibit. It’s great to see Floridians have a passion for helping others and investing their time in the education of students.” 

Volunteer Florida Chief Executive Officer Chester Spellman said, “Dr. Brickler has deep roots in the Tallahassee community as a beloved physician, community servant, and volunteer advocate. Today we are especially proud to honor him for his work in creating a tribute to the Tuskegee Airmen, a tribute which has been shared with over 900 students from 11 Leon County schools in conjunction with Black History Month.”

About the Champion of Service: D.J. Brickler III, M.D.
D.J. Brickler III, M.D., is the creator of the Commemorative Air Force Red Tail Project Exhibit. The exhibit is a tribute to the Tuskegee Airmen, or “Red Tails.” The Tuskegee Airmen were America’s first black military pilots who carried out thousands of missions in Europe during WWII. The exhibit was established in 2014 in conjunction with Black History Month and has become an annual event with over 900 students from 11 Leon County schools in attendance.  Dr. Brickler, a Tallahassee native, has served as Chairman and Vice-Chairman of the Department of Obstetrics and Gynecology and as Chief of Medical Staff at Tallahassee Memorial Hospital.  Dr. Brickler served as Honorary Chairman for the March of Dimes Program from 1998 to 2003 and was awarded The March of Dimes Mission Possible Award in 2003. He also served as a Board Member for the United Way of the Big Bend and as a Director on the Tallahassee Community College Foundation Board. Dr. Brickler has left an indelible mark on Tallahassee by being a faithful steward of public service, striving to build a better community and advocating for children in the community. 

PSC Approves FPL’s Interim Storm Recovery Charge for Hurricane Matthew

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The Florida Public Service Commission (PSC) approved Florida Power & Light Company’s (FPL) request to replenish its storm reserve fund following Hurricane Matthew. While the majority of the state was spared Matthew’s worst as the storm traveled up Florida’s east coast in October 2016, FPL’s service territory suffered substantial damage.

FPL’s petition filed on December 29, 2016, is based on its 2012 Revised Stipulation and Settlement Agreement, which allows FPL to collect hurricane-related costs and maintain a storm reserve fund.  This form of cost recovery is supported by the Office of Public Counsel, which represents all FPL customers.  A hearing will be set in the future to consider whether the costs are reasonable and prudent.

Today’s approved interim monthly charge for FPL residential customers is $3.36 per 1,000-kilowatt hours for 12 months, beginning March 2017 and continuing through February 2018.  FPL will recover approximately $318.5 million to cover costs associated with Hurricane Matthew and to replenish its storm reserve.

For additional information, visit www.floridapsc.com.

Follow the PSC on Twitter, @floridapsc.