Florida Senate - 2005                        SENATOR AMENDMENT
    Bill No. CS for SB 660
                        Barcode 634484
                            CHAMBER ACTION
              Senate                               House
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       04/13/2005 10:49 AM         .                    
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11  Senator Carlton moved the following amendment:
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13         Senate Amendment (with title amendment) 
14         On page 6, line 29, through
15            page 8, line,4, delete those lines
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17  and insert:  
18         (4)(a)  Moneys paid into or out of the assets of and
19  the income of any hurricane savings account established by an
20  insurance policyholder for residential property in this state
21  equal to twice the deductible sum of such insurance to cover
22  an insurance deductible or other uninsured portion of the
23  risks of loss from a hurricane, rising flood waters, or other
24  catastrophic windstorm event are not liable to attachment,
25  levy, garnishment, or legal process in this state in favor of
26  any creditor of or claimant against any account participant,
27  purchaser, owner or contributor, or account beneficiary.
28         (b)  As used in this subsection, the term "hurricane
29  savings account" means an account established by the owner of
30  residential real estate in this state, which meets the
31  requirements of homestead exemption under s. 4, Art. X of the
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    11:23 AM   04/12/05                            s0660c1c-23-ta1


    Florida Senate - 2005                        SENATOR AMENDMENT
    Bill No. CS for SB 660
                        Barcode 634484
 1  State Constitution, who specifies that the purpose of the
 2  account is to cover the amount of insurance deductibles and
 3  other uninsured portions of risks of loss from hurricanes,
 4  rising flood waters, or other catastrophic windstorm events.
 5         (c)  This subsection shall take effect only when the
 6  federal government provides tax-exempt or tax-deferred status
 7  to a hurricane savings account, disaster savings account, or
 8  other similar account created to cover an insurance deductible
 9  or other uninsured portion of the risks of loss from a
10  hurricane, rising flood waters, or other catastrophic
11  windstorm event.
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15  And the title is amended as follows:
16         On page 2, line 9, after the word "providing"
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18  insert:
19         a conditional effective date and
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    11:23 AM   04/12/05                            s0660c1c-23-ta1