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basis) of $430,432, $391,294, and $662 for equipment placed in
service in the 1988, 1989, and 1990 taxable years, respectively.
C. Environmental Property
As a utility company, FPL is subject to environmental
regulations by Federal, State, and local governmental agencies,
including the Environmental Protection Agency (EPA), U.S. Coast
Guard, and the Florida Department of Environmental Protection.
Environmental regulations applicable to FPL relate to several
natural resources, including air, water, waste, animals, and
plants. The purpose of environmental regulations, as applicable
to FPL, is to ensure that FPL generates, transmits, and
distributes electricity in a manner that will protect human
health and the environment.
1. Wastewater Neutralization Treatment System
A wastewater neutralization treatment system treats the
wastewater coming from the mineralizer regenerate. The
mineralizer water is ultrapure water that is placed into the
boiler to generate the steam, which ultimately drives the
generator to create electricity. Wastewater is hazardous for
corrosivity. FPL claims ITCs for the wastewater neutralization
treatment system in the 1988 and 1990 taxable years.
FPL received temporary operating permits (TOPs) from the
State of Florida, Department of Environmental Regulation, for its
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