1

A bill to be entitled

2

An act relating to low-income and moderate-income

3

homeowners; providing for counties to establish a fund for

4

providing no-interest loans to assist low-income and

5

moderate-income homeowners in paying homeowners' insurance

6

premiums; authorizing the governing authority of a county

7

to levy surtaxes on building-related permits to finance

8

the assistance fund; limiting the amount a family may

9

receive from the fund in any year; requiring that a loan

10

be repaid if the homestead is sold or refinanced;

11

requiring that any proceeds from refinancing or selling a

12

homestead be deposited back into the fund; defining the

13

terms "low-income family" and "moderate-income family";

14

providing requirements for the ordinance levying the

15

surtax and creating the fund; specifying the amount of the

16

surtaxes; providing limitations on the use of the fund;

17

providing for the program to be adopted initially by the

18

governing authority of certain constitutional charter

19

counties and for later adoption in the remaining counties

20

of the state; providing effective dates.

21

22

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

23

24

     Section 1. Low-Income and Moderate-Income Homeowners'

25

Insurance Premium Assistance Pilot Program.--

26

     (1) The governing authority of each county may levy a

27

discretionary surtax on building-related permits for the purpose

28

of establishing and financing a Low and Moderate Income Insurance

29

Assistance Fund. This fund shall be used to make no-interest

30

loans to assist low-income and moderate-income families who own

31

homestead property in paying their homeowners' insurance

32

premiums. These loans shall be made on a first-come, first-to-

33

qualify basis. Seventy-five percent of the revenue in the fund in

34

each county shall be used to provide loan assistance to low-

35

income families and 25 percent of the revenue in the fund shall

36

be used to provide loan assistance to moderate-income families.

37

The maximum amount of any loan that a low-income family or

38

moderate-income family may receive from the fund is $2,000 per

39

year, and a check from the fund must be made payable to the

40

homeowner's insurance company. When a homeowner who has received

41

a loan from the fund sells or refinances his or her homestead

42

property, that loan must be repaid from the proceeds of the sale

43

or refinancing. Repayment of a loan made from the fund may be

44

collected by the method provided for in ss. 197.3632 and

45

197.3635, Florida Statutes, for non-ad valorem assessments, and

46

may also be collected by any alternative method that is

47

authorized by law. Any proceeds of repayment must be deposited

48

into the Low and Moderate Income Insurance Assistance Fund. As

49

used in this section, "low-income family" means a family whose

50

income does not exceed 80 percent of the median income for the

51

area and "moderate-income family" means a family whose income is

52

in excess of 80 percent but less than 140 percent of the median

53

income for the area.

54

     (2) The levy of the discretionary surtax and the creation

55

of a Low and Moderate Income Insurance Assistance Fund shall be

56

by an ordinance that sets forth the policies and procedures of

57

the assistance program. The discretionary surtax must be levied

58

as set forth in subsection (3). The ordinance shall be proposed

59

at a regular meeting of the governing authority at least 2 weeks

60

prior to formal adoption. Formal adoption is not effective unless

61

approved on final vote by a majority of the total membership of

62

the governing authority. The ordinance may not take effect until

63

90 days after formal adoption.

64

     (3) The county shall levy the discretionary surtax as

65

follows:

66

     (a) One dollar per permit for building-related permits that

67

are less than $11.

68

     (b) Two dollars per permit for building-related permits

69

that are $11 to $99.99.

70

     (c) Five dollars per permit for building-related permits

71

that are $100 to $499.99.

72

     (d) Twenty-five dollars per permit for building-related

73

permits that are $500 to $999.99.

74

     (e) Fifty dollars per permit for building-related permits

75

that are $1,000 or more.

76

     (4) The county shall deposit 90 percent of the revenues

77

from the discretionary surtax in the Low and Moderate Income

78

Insurance Assistance Fund of the county. Ten percent of the

79

revenues may be used for administrative costs. Any interest

80

earned from the fund must remain in the fund. The county shall

81

use the revenues in the fund only to offer low-income and

82

moderate-income families financial assistance with their

83

homeowners' insurance premium payments on their homestead

84

property, to pay necessary costs of collection and enforcement of

85

the surtax, and to fund any local matching contributions required

86

pursuant to federal law for the Low-Income and Moderate-Income

87

Homeowners' Insurance Premium Assistance Pilot Program. The

88

proceeds of the surtax may not be used for rent subsidies or

89

grants.

90

     Section 2. Effective July 1, 2008, the Low-Income and

91

Moderate-Income Homeowners' Insurance Premium Assistance Pilot

92

Program may be adopted only by the governing authority of a

93

county as defined in s. 125.011(1), Florida Statutes. Effective

94

July 1, 2009, the Low-Income and Moderate-Income Homeowners'

95

Insurance Premium Assistance Pilot Program may be adopted by the

96

governing authorities of the remaining counties in the state.

97

     Section 3.  Except as otherwise expressly provided in this

98

act, this act shall take effect July 1, 2008.