Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. CS for SB 1980
Barcode 931992
CHAMBER ACTION
Senate House
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11 The Committee on Ways and Means (Clary) recommended the
12 following amendment:
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14 Senate Amendment (with title amendment)
15 On page 121, between lines 14 and 15,
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17 insert:
18 Section 33. (1) For the 2006-2007 fiscal year $750
19 million is appropriated to the Department of Financial
20 Services from non-recurring funds in the General Revenue Fund.
21 Such funds shall be transferred to the Citizens Property
22 Insurance Corporation, established pursuant to s. 627.351(6),
23 Florida Statues, to reduce the amount of regular assessment
24 for the deficit incurred in calendar year 2005. This
25 appropriation shall not be subject to the release restrictions
26 of s. 216.192, Florida Statutes.
27 (2) Citizens Property Insurance Corporation shall
28 include in the notice of assessment to each assessable insurer
29 the amount by which the assessment has been reduced due to the
30 appropriation in subsection (1).
31 (3) Each insurer that recoups an assessment from its
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1:03 PM 04/14/06 s1980.wm04.r03
Florida Senate - 2006 COMMITTEE AMENDMENT
Bill No. CS for SB 1980
Barcode 931992
1 policyholders as allowed by law, shall include on the premium
2 notice sent to policyholders, in 12-point type, the following
3 statement, with the appropriate dollar amounts shown:
4 "THE $ SURCHARGE IN YOUR PREMIUM FOR THE ASSESSMENT
5 BY CITIZENS PROPERTY INSURANCE CORPORATION HAS BEEN REDUCED BY
6 $ DUE TO AN APPROPRIATION BY THE FLORIDA LEGISLATURE."
7 (4) A violation of this section by an insurer shall be
8 considered a violation of the Insurance Code, subject to the
9 penalties provided in ss. 624.418 and 624.4211, Florida
10 Statutes.
11 (5) For the purposes of this section, the terms
12 "regular assessment", "deficit", and "assessable insurer" have
13 the same meaning as these terms are used in s. 627.351(6),
14 Florida Statutes.
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17 ================ T I T L E A M E N D M E N T ===============
18 And the title is amended as follows:
19 On page 10, line 6, after the semicolon,
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21 insert:
22 requiring that an appropriation be transferred
23 to Citizens Property Insurance Corporation to
24 reduce the amount of the regular assessment for
25 a specified deficit; requiring the corporation
26 to notify assessable insurers of the amount by
27 which assessments have been reduced; requiring
28 insurers who recoup assessments to notify
29 policyholders of the amount by which the
30 surcharge has been reduced; providing penalties
31 for a violation; specifying meanings of terms;
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