CS/HB 129: Sinkhole Coverage
GENERAL BILL by Regulatory Affairs Committee ; Raburn ; (CO-INTRODUCERS) Campbell
Sinkhole Coverage; Requires Citizens Property Insurance Corporation to submit biannual report on number of residential sinkhole policies requested, issued, & declined & reasons for declining coverage; requires corporation to establish Citizens Sinkhole Stabilization Repair Program for sinkhole claims; prohibits corporation from requiring policyholder to advance payment for stabilization repairs provided under program; provides requirements & procedures for selecting stabilization repair contractors to conduct stabilization repairs; requires stabilization repairs to be conducted pursuant to contract; provides requirements for such contracts; requires policyholder to select contractor from pool within certain time period; specifies additional requirements with respect to program; requires corporation to offer specified deductible amounts for sinkhole loss coverage; requires OPPAGA to conduct study of program & submit report to Governor, CFO, & Legislature; provides severability.
Last Action: 5/2/2014 Senate - Died in Banking and Insurance
Location: In committee/council (BI)
Bill Text: PDF
- Banking and Insurance (BI)
- Appropriations Subcommittee on General Government (AGG)
- Appropriations (AP)
• Referred to Insurance and Banking Subcommittee; Regulatory Affairs Committee -HJ 17
• On Committee agenda-- Insurance and Banking Subcommittee, 02/11/14, 3:30 pm, Sumner Hall
• Favorable by Insurance and Banking Subcommittee; YEAS 13 NAYS 0 -HJ 156
• Now in Regulatory Affairs Committee -HJ 156
• Introduced -HJ 17
• On Committee agenda-- Regulatory Affairs Committee, 04/03/14, 8:30 am, Sumner Hall
• CS by- Regulatory Affairs Committee; YEAS 12 NAYS 4 -HJ 475
• Pending review of CS -under Rule 7.19(c)
• Placed on Calendar -HJ 475
• Placed on Special Order Calendar, 04/09/14
• CS by Regulatory Affairs Committee read 1st time -HJ 470
• Read 2nd time -HJ 496
• Placed on 3rd reading
• Read 3rd time -HJ 515
• CS passed; YEAS 85 NAYS 25 -HJ 515
• In Messages
• Referred to Banking and Insurance; Appropriations Subcommittee on General Government; Appropriations -SJ 521
• Received -SJ 521
• Died in Banking and Insurance
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