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The Committee on General Government Appropriations (Bennett)

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recommended the following amendment:

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     Senate Amendment (with title amendment)

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     Between line(s) 42 and 43,

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insert:

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     Section 1.  Paragraph (d) of subsection (3) of section

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20.121, Florida Statutes, is amended to read:

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     20.121  Department of Financial Services.--There is created

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a Department of Financial Services.

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     (3)  FINANCIAL SERVICES COMMISSION.--Effective January 7,

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2003, there is created within the Department of Financial

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Services the Financial Services Commission, composed of the

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Governor, the Attorney General, the Chief Financial Officer, and

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the Commissioner of Agriculture, which shall for purposes of this

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section be referred to as the commission. Commission members

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shall serve as agency head of the Financial Services Commission.

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The commission shall be a separate budget entity and shall be

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exempt from the provisions of s. 20.052. Commission action shall

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be by majority vote consisting of at least three affirmative

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votes. The commission shall not be subject to control,

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supervision, or direction by the Department of Financial Services

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in any manner, including purchasing, transactions involving real

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or personal property, personnel, or budgetary matters.

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     (d) Appointment and qualifications of directors.--Except as

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otherwise provided with respect to the reaffirmation of

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appointments, the commission shall appoint or remove each

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director by a majority vote consisting of at least three

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affirmative votes, with both the Governor and the Chief Financial

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Officer on the prevailing side. The minimum qualifications of the

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directors are as follows:

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     1.  Prior to appointment as director, the Director of the

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Office of Insurance Regulation must have had, within the previous

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10 years, at least 5 years of responsible private sector

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experience working full time in areas within the scope of the

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subject matter jurisdiction of the Office of Insurance Regulation

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or at least 5 years of experience as a senior examiner or other

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senior employee of a state or federal agency having regulatory

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responsibility over insurers or insurance agencies.

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     2.  Prior to appointment as director, the Director of the

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Office of Financial Regulation must have had, within the previous

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10 years, at least 5 years of responsible private sector

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experience working full time in areas within the subject matter

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jurisdiction of the Office of Financial Regulation or at least 5

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years of experience as a senior examiner or other senior employee

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of a state or federal agency having regulatory responsibility

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over financial institutions, finance companies, or securities

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companies.

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The appointment of each director is subject to a vote of

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reaffirmation on a biennial basis, which shall be by a simple

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majority vote of the commission.

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     Section 2. The vote of reaffirmation required in paragraph

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(d) of subsection (3) of s. 20.121, Florida Statutes shall occur

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by October 1, 2008.

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     On line(s) 2, after the semicolon,

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insert:

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amending s. 20.121, F.S.; providing that the appointment

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of the director of each office within the Department of

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Financial Services is subject biennially to reaffirmation,

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which may be accomplished by a simple majority vote of the

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Financial Services Commission; requiring that such vote

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occur by a specified date;

4/7/2008  12:52:00 PM     21-06765A-08