Florida Senate - 2023                        COMMITTEE AMENDMENT
       Bill No. CS for SB 154
       
       
       
       
       
       
                                Ì6489403Î648940                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/17/2023           .                                
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       The Committee on Fiscal Policy (Bradley) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 323 - 357
    4  and insert:
    5         a. January 1, 2024, for a structure that has a dwelling
    6  replacement cost of property valued at $600,000 or more.
    7         b. January 1, 2025, for a structure that has a dwelling
    8  replacement cost of property valued at $500,000 or more.
    9         c. January 1, 2026, for a structure that has a dwelling
   10  replacement cost of property valued at $400,000 or more.
   11         d. January 1, 2027, for all other personal lines
   12  residential property insured by the corporation.
   13         2. All personal lines residential policyholders whose
   14  property insured by the corporation is located within the
   15  special flood hazard area defined by the Federal Emergency
   16  Management Agency must have flood coverage in place:
   17         a. At the time of initial policy issuance for all new
   18  personal lines residential policies issued by the corporation on
   19  or after April 1, 2023.
   20         b. By the time of the policy renewal for all personal lines
   21  residential policies renewing on or after July 1, 2023.
   22         3. Policyholders whose policies issued by the corporation
   23  do not provide coverage for the peril of wind are not required
   24  to purchase flood insurance as a condition for maintaining the
   25  following their policies issued by with the corporation:
   26         a. Policies that do not provide coverage for the peril of
   27  wind.
   28         b. Policies that provide coverage under a condominium unit
   29  owners form.
   30  
   31  ================= T I T L E  A M E N D M E N T ================
   32  And the title is amended as follows:
   33         Delete lines 32 - 33
   34  and insert:
   35         revising requirements relating to the purchase of
   36         flood insurance as a condition for