Senate Bill sb2366
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Florida Senate - 2007 SB 2366
By Senator Baker
20-1487-07 See HB
1 A bill to be entitled
2 An act relating to Citizens Property Insurance
3 Corporation; creating the Citizens Property
4 Insurance Corporation Liquidation Task Force;
5 providing purposes; providing for appointment
6 of members; providing responsibilities;
7 specifying service without compensation;
8 providing for reimbursement of per diem and
9 travel expenses; providing meeting
10 requirements; requiring a report; providing for
11 the expiration of the task force; providing an
12 appropriation; providing an effective date.
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14 Be It Enacted by the Legislature of the State of Florida:
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16 Section 1. (1) The Citizens Property Insurance
17 Corporation Liquidation Task Force is created to analyze and
18 compile available data that is pertinent to the development of
19 a business plan that will provide for the liquidation of all
20 assets belonging to Citizens Property Insurance Corporation
21 and to organize all conclusive data into a comprehensive
22 business strategy, subject to review by the Governor, the
23 President of the Senate, and the Speaker of the House of
24 Representatives. At a minimum, the task force shall plan and
25 make recommendations concerning:
26 (a) Development of a plan that is economically sound
27 for the purpose of liquidating Citizens Property Insurance
28 Corporation by January 31, 2012.
29 (b) Reinsurance and multiperil policy provisions among
30 private-sector companies with respect to potential consumer
31 demand as a result of the liquidation of Citizens Property
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2007 SB 2366
20-1487-07 See HB
1 Insurance Corporation and all other actuarial effects to
2 private insurance providers as a result of such liquidation.
3 (c) All legislative, executive, and procedural actions
4 within the purview of the Legislature that are necessary to
5 liquidate Citizens Property Insurance Corporation by January
6 31, 2012.
7 (d) Any other data that is essential to the
8 development and implementation of a comprehensive business
9 strategy for the liquidation of Citizens Property Insurance
10 Corporation by January 31, 2012.
11 (2) The task force shall be composed of 15 members as
12 follows:
13 (a) Three members of the House of Representatives, to
14 be appointed by the Speaker of the House of Representatives as
15 ex officio, nonvoting members.
16 (b) Three members of the Senate, to be appointed by
17 the President of the Senate as ex officio, nonvoting members.
18 (c) Three members to be appointed by the Governor who
19 are not professionally affiliated with any insurance company
20 or a subsidiary of an insurance company.
21 (d) Six appointed representatives of private-sector
22 insurance companies as follows:
23 1. Two members representing two separate insurance
24 companies in this state that each provide at least 1 million
25 property insurance policies statewide at the time of the
26 creation of the task force.
27 2. Two members representing two separate insurance
28 companies in this state that each provide at least 130,000 but
29 no more than 150,000 property insurance policies statewide at
30 the time of the creation of the task force.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2007 SB 2366
20-1487-07 See HB
1 3. Two members representing two separate insurance
2 companies in this state that each provide fewer than 100,000
3 property insurance policies statewide at the time of the
4 creation of the task force.
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6 Of each pair of members appointed under subparagraphs 1., 2.,
7 and 3., one shall be appointed by the President of the Senate
8 and one by the Speaker of the House of Representatives.
9 (3) The task force shall conduct research, hold public
10 meetings, receive testimony, employ consultants and
11 administrative staff, and undertake other activities
12 determined by its members to be necessary to complete its
13 responsibilities.
14 (4) A member of the task force may not delegate his or
15 her attendance or voting power to a designee.
16 (5) Members of the task force shall serve without
17 compensation but are entitled to receive reimbursement for
18 travel and per diem as provided in s. 112.061, Florida
19 Statutes.
20 (6) The appointments to the task force must be
21 completed within 30 calendar days after the effective date of
22 this act, and the task force must hold its initial meeting
23 within 1 month after appointment of all members. The task
24 force shall submit a report containing recommendations for a
25 business plan to liquidate the assets of Citizens Property
26 Insurance Corporation to the Governor, the President of the
27 Senate, and the Speaker of the House of Representatives by
28 January 31, 2008. The task force shall expire no later than 60
29 calendar days after submission of the report.
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CODING: Words stricken are deletions; words underlined are additions.
Florida Senate - 2007 SB 2366
20-1487-07 See HB
1 Section 2. For the 2007-2008 fiscal year, the
2 nonrecurring sum of $250,000 is appropriated from the General
3 Revenue Fund for the purpose of implementing this act.
4 Section 3. This act shall take effect upon becoming a
5 law.
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