Florida Senate - 2009                          SENATOR AMENDMENT
       Bill No. CS for CS for SB 1950
       
       
       
       
       
       
                                Barcode 917884                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 14/F/2R         .                                
             04/27/2009 04:59 PM       .                                
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       Senator Fasano moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 1896 - 1911
    4  and insert:
    5         4. The rate filings for the corporation which were approved
    6  by the office and which took effect January 1, 2007, are
    7  rescinded, except for those rates that were lowered. As soon as
    8  possible, the corporation shall begin using the lower rates that
    9  were in effect on December 31, 2006, and shall provide refunds
   10  to policyholders who have paid higher rates as a result of that
   11  rate filing. The rates in effect on December 31, 2006, shall
   12  remain in effect until December 31, 2012 for the 2007 2008
   13  calendar years except for any rate change that results in a
   14  lower rate. The next rate change that may increase rates shall
   15  take effect pursuant to a new rate filing recommended by the
   16  corporation and established by the office, subject to the
   17  requirements of this paragraph.
   18         5. Beginning on July 15, 2012 2009, and each year
   19  thereafter, the corporation must make a recommended actuarially
   20  sound rate filing for each personal and commercial line of
   21  business it writes, to be effective no earlier than January 1,
   22  2013 2010.
   23  
   24  ================= T I T L E  A M E N D M E N T ================
   25         And the title is amended as follows:
   26         Delete line 63
   27  and insert:
   28         staggered terms; extending the rate freeze imposed
   29         upon Citizens Property Insurance Corporation by a
   30         certain number of years; requiring Citizen’s Property