SENATE AMENDMENT

    Bill No. CS for SB 1372

    Amendment No.    

                            CHAMBER ACTION
              Senate                               House
                                   .
                                   .
 1                                 .
                                   .
 2                                 .
                                   .
 3                                 .
                                   .
 4                                                                

 5

 6

 7

 8

 9

10                                                                

11  Senator Holzendorf moved the following amendment:

12

13         Senate Amendment (with title amendment) 

14         On page 84, between lines 23 and 24,

15

16  insert:

17         Section 80.  Section 624.4072, Florida Statutes, is

18  created to read:

19         624.4072  Minority owned property and casualty

20  insurers.--

21         (1)  A minority business, which is at least 51 percent

22  owned by minority persons as described in s. 288.703(3),

23  desiring to operate or become licensed as a property and

24  casualty insurer shall be exempt, for a period of 5 years from

25  the date of receiving authority to transact insurance pursuant

26  to s. 624.407, from any and all assessments described in s.

27  627.351 and from any requirements of s. 624.509.

28         (2)  For the purpose of meeting the requirements of

29  subsection (1), the insurer must:

30         (a)  Be domiciled in this state;

31         (b)  Have permanent employees in this state;

                                  1
    2:31 PM   03/31/98                              s1372c1c-02c9y




                                                  SENATE AMENDMENT

    Bill No. CS for SB 1372

    Amendment No.    





 1         (c)  Have an office in this state; and

 2         (d)  Have at least 20 percent of its policies written

 3  and located in urban and inner-city areas that are

 4  metropolitan statistical areas as defined in 42 U.S.C.

 5  12902(5). However, the requirement that the minority persons

 6  as described in s. 288.703(3) be permanent residents of this

 7  state does not apply to this section and to the requirements

 8  set forth in s. 627.3511.

 9         (3)  This section expires July 1, 2003.

10

11  (Redesignate subsequent sections.)

12

13

14  ================ T I T L E   A M E N D M E N T ===============

15  And the title is amended as follows:

16         On page 6, line 2, after the semicolon

17

18  insert:

19         creating s. 624.4072, F.S.; exempting

20         minority-owned property and casualty insurers

21         from prescribed assessments for specified

22         period;

23

24

25

26

27

28

29

30

31

                                  2
    2:31 PM   03/31/98                              s1372c1c-02c9y