Florida Senate - 2011 SENATOR AMENDMENT Bill No. CS for CS for CS for SB 408 Barcode 216520 LEGISLATIVE ACTION Senate . House . . . Floor: WD/2R . 04/27/2011 01:42 PM . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— Senator Joyner moved the following: 1 Senate Amendment (with title amendment) 2 3 Between lines 429 and 430 4 insert: 5 Section 8. Paragraph (a) of subsection (1) and subsections 6 (4) and (5) of section 624.46226, Florida Statutes, are amended 7 to read: 8 624.46226 Public housing authorities self-insurance funds; 9 exemption for taxation and assessments.— 10 (1) Notwithstanding any other provision of law, any two or 11 morepublichousing authorities in the state as defined in 12 chapter 421 may form a self-insurance fund for the purpose of 13 pooling and spreading liabilities of its members as to any one 14 or combination of casualty risk or real or personal property 15 risk of every kind and every interest in such property against 16 loss or damage from any hazard or cause and against any loss 17 consequential to such loss or damage, provided the self 18 insurance fund that is created: 19 (a) Has annual normal premiums in excess of $3.5$520 million. 21 (4) Premiums, contributions, and assessments received by a 22 public housing authority’s self-insurance fund are not subject 23 to ss. 624.509(1) and (2) and 624.5092, except that the tax rate 24 shall be 1.6 percent of the gross amount of such premiums, 25 contributions, and assessments. 26 (5) If any of the requirements of subsection (1) are not 27 met, a public housing authority’s self-insurance fund is subject 28 tothe requirements ofs. 624.4621 if the fund provides only 29 workers’ compensation coverage, or is subject tothe30requirements ofss. 624.460-624.488 if the fund provides 31 coverage for other property, casualty, or surety risks. However, 32 the office may allow the fund to continue to operate if 33 paragraph (1)(a) is the only requirement not met and the fund 34 has provided the office with an acceptable corrective action 35 plan to achieve compliance with paragraph (1)(a). 36 37 ================= T I T L E A M E N D M E N T ================ 38 And the title is amended as follows: 39 Delete line 24 40 and insert: 41 annual audited financial report; amending s. 42 624.46226, F.S.; revising provisions relating to self 43 insurance funds for public housing authorities; 44 reducing the amount of premiums required; deleting 45 provisions requiring the fund to pay premium taxes; 46 allowing the fund to operate if certain requirements 47 are not met; amending s. 626.854,