Florida Senate - 2013                          SENATOR AMENDMENT
       Bill No. CS for SB 1770
       
       
       
       
       
       
                                Barcode 415424                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                                       .                                
                                       .                                
                                       .                                
               Floor: 15/AD/2R         .                                
             04/11/2013 04:21 PM       .                                
       —————————————————————————————————————————————————————————————————




       —————————————————————————————————————————————————————————————————
       Senator Simmons moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 2450 - 2485
    4  and insert:
    5         3.6. For policies initially insured by the corporation
    6  before January 1, 2014, and which have continuously been insured
    7  by the corporation since that date, Beginning on or after
    8  January 1, 2010, and notwithstanding the board’s recommended
    9  rates and the office’s final order regarding the corporation’s
   10  filed rates under subparagraph 1., the corporation shall
   11  annually implement a rate increase that which, except for
   12  sinkhole coverage, does not exceed 10 percent for any single
   13  policy issued by the corporation, excluding coverage changes and
   14  surcharges.
   15         4.7. The corporation may also implement an increase to
   16  reflect the effect on the corporation of the cash buildup factor
   17  pursuant to s. 215.555(5)(b).
   18  
   19  ================= T I T L E  A M E N D M E N T ================
   20         And the title is amended as follows:
   21         Delete lines 82 - 85
   22  and insert:
   23         catastrophe risk factor; requiring the corporation to