Senate Bill sb0042Ac1

    Florida Senate - 2003                           CS for SB 42-A

    By the Committee on Banking and Insurance; and Senator Miller





    311-2630-03

  1                      A bill to be entitled

  2         An act relating to a public-records exemption;

  3         creating s. 627.9742, F.S.; creating a

  4         public-records exemption for credit scoring

  5         methodologies and related data and information

  6         that are trade secrets filed with the Office of

  7         Insurance Regulation; providing for future

  8         legislative review and repeal; providing a

  9         statement of public necessity; providing a

10         contingent effective date.

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12  Be It Enacted by the Legislature of the State of Florida:

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14         Section 1.  Section 627.9742, Florida Statutes, is

15  created to read:

16         627.9742  Public-records exemption for the Office of

17  Insurance Regulation.--Credit scoring methodologies and

18  related data and information that are trade secrets as defined

19  in s. 688.002 and that are filed with the Office of Insurance

20  Regulation pursuant to a rate filing or other filing required

21  by law are confidential and exempt from the provisions of s.

22  119.07(1) and s. 24(a), Art. I of the State Constitution.

23         Section 2.  Section 627.9742, Florida Statutes, is

24  subject to the Open Government Sunset Review Act of 1995 in

25  accordance with section 119.15, Florida Statutes, and shall

26  stand repealed on October 2, 2008, unless reviewed and saved

27  from repeal through reenactment by the Legislature.

28         Section 3.  The Legislature finds that it is a public

29  necessity that credit scoring methodologies and related data

30  and information that are trade secrets, filed with the Office

31  of Insurance Regulation pursuant to a rate filing or other

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2003                           CS for SB 42-A
    311-2630-03




 1  filing required by law, be made confidential and exempt from

 2  public-records requirements. Such information could harm the

 3  business of an insurance company, as it contains proprietary

 4  confidential business information that has economic value

 5  derived from not being disclosed to competitors. The

 6  Legislature further finds that it is a public necessity to

 7  make such information confidential and exempt from public

 8  disclosure because release of such information would likely

 9  result in an insurer's not providing the Office of Insurance

10  Regulation with adequate information on which to base a

11  determination as to whether a filing meets the requirements of

12  law, resulting in increased administrative and legal disputes

13  with regard to the filing.

14         Section 4.  This act shall take effect January 1, 2004,

15  if SB 40-A or similar legislation is adopted in the same

16  legislative session, or an extension thereof, and becomes law.

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18          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
19                         Senate Bill 42-A

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21  The committee substitute specifies that the bill will take
    effect subject to SB 40-A being adopted in the same session,
22  or an extension thereof, and becomes law.

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CODING: Words stricken are deletions; words underlined are additions.