Florida Senate - 2024 COMMITTEE AMENDMENT
Bill No. CS for SB 1716
Ì302782.Î302782
LEGISLATIVE ACTION
Senate . House
Comm: RCS .
02/28/2024 .
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The Committee on Fiscal Policy (Rodriguez) recommended the
following:
1 Senate Amendment (with title amendment)
2
3 Delete line 2949
4 and insert:
5 Section 4. Effective upon becoming a law, paragraph (aa) of
6 subsection (6) of section 627.351, Florida Statutes, is amended
7 to read:
8 627.351 Insurance risk apportionment plans.—
9 (6) CITIZENS PROPERTY INSURANCE CORPORATION.—
10 (aa) Except as otherwise provided in this paragraph, the
11 corporation shall require the securing and maintaining of flood
12 insurance as a condition of coverage of a personal lines
13 residential risk. The insured or applicant must execute a form
14 approved by the office affirming that flood insurance is not
15 provided by the corporation and that if flood insurance is not
16 secured by the applicant or insured from an insurer other than
17 the corporation and in addition to coverage by the corporation,
18 the risk will not be eligible for coverage by the corporation.
19 The corporation may deny coverage of a personal lines
20 residential risk to an applicant or insured who refuses to
21 secure and maintain flood insurance. The requirement to purchase
22 flood insurance shall be implemented as follows:
23 1. Except as provided in subparagraphs 2. and 3., all
24 personal lines residential policyholders must have flood
25 coverage in place for policies effective on or after:
26 a. January 1, 2024, for a structure that has a dwelling
27 replacement cost of $600,000 or more.
28 b. January 1, 2025, for a structure that has a dwelling
29 replacement cost of $500,000 or more.
30 c. January 1, 2026, for a structure that has a dwelling
31 replacement cost of $400,000 or more.
32 d. January 1, 2027, for all other personal lines
33 residential property insured by the corporation.
34 2. All personal lines residential policyholders whose
35 property insured by the corporation is located within the
36 special flood hazard area defined by the Federal Emergency
37 Management Agency must have flood coverage in place:
38 a. At the time of initial policy issuance for all new
39 personal lines residential policies issued by the corporation on
40 or after April 1, 2023.
41 b. By the time of the policy renewal for all personal lines
42 residential policies renewing on or after July 1, 2023.
43 3. Policyholders are not required to purchase flood
44 insurance as a condition for maintaining the following policies
45 issued by the corporation:
46 a. Policies that do not provide coverage for the peril of
47 wind.
48 b. Policies that provide coverage under a condominium unit
49 owners form.
50
51 The flood insurance required under this paragraph must meet, at
52 a minimum, the dwelling coverage available from the National
53 Flood Insurance Program or the requirements of subparagraphs s.
54 627.715(1)(a)1., 2., and 3.
55 Section 5. Except as otherwise expressly provided in this
56 act and except for this section, which shall take effect upon
57 becoming a law, this act shall take effect July 1, 2024.
58
59 ================= T I T L E A M E N D M E N T ================
60 And the title is amended as follows:
61 Delete lines 66 - 67
62 and insert:
63 coverage; defining the term “primary residence”;
64 amending s. 627.351, F.S.; revising a requirement for
65 certain flood insurance; providing effective dates.