| 1 | Representative Reagan offered the following: |
| 2 |
|
| 3 | Amendment (with title amendment) |
| 4 | Remove line(s) 148-167 and insert: |
| 5 | (8) NO-INTEREST LOANS.--The department shall implement may |
| 6 | develop a no-interest loan program by October 1, 2008, |
| 7 | contingent upon the selection of a qualified vendor and |
| 8 | execution of a contract acceptable to the department and the |
| 9 | vendor. The department shall partner with December 31, 2007, to |
| 10 | encourage the private sector to provide loans to owners of site- |
| 11 | built, single-family, residential property to pay for mitigation |
| 12 | measures listed in subsection (2). A loan eligible for interest |
| 13 | payments pursuant to this subsection may be for a term of up to |
| 14 | 3 years and cover up to $5,000 in mitigation measures. The |
| 15 | department shall pay the creditor the market rate of interest |
| 16 | using funds appropriated for the My Safe Florida Home Program. |
| 17 | In no case shall the department pay more than the interest rate |
| 18 | set by s. 687.03. To be eligible for a loan, a loan applicant |
| 19 | must first obtain a home inspection and report that specifies |
| 20 | what improvements are needed to reduce the property's |
| 21 | vulnerability to windstorm damage pursuant to this section and |
| 22 | meet loan underwriting requirements set by the lender. The |
| 23 | department shall may set aside up to $10 million from funds |
| 24 | appropriated for the My Safe Florida Home Program to implement |
| 25 | this subsection. The department may shall adopt rules pursuant |
| 26 | to ss. 120.536(1) and 120.54 to implement this subsection which |
| 27 | may include eligibility criteria. |
| 28 |
|
| 29 |
|
| 30 |
|
| 31 |
|
| 32 |
|
| 33 | ----------------------------------------------------- |
| 34 | T I T L E A M E N D M E N T |
| 35 | Remove lines 14-15 and insert: |
| 36 | department to implement a no-interest loan program by a certain |
| 37 | date; providing program requirements; requiring the department |
| 38 | to set aside certain moneys for certain purposes; authorizing |
| 39 | the department to adopt rules; expanding authority of the |
| 40 | department to |
| 41 |
|