CORRECTION: Florida Governor Rick Scott Presented with Citizens Property Insurance Assessment Reduction Bill (HB 1127)
Mar 30, 2012
Today, March 30, 2012, Florida Governor Rick Scott was presented with House Bill 1127, also known as the Citizens Property Insurance Corporation assessment reduction bill. The Governor has 15 days to approve the bill or veto the bill. If the Governor does not take any action on the legislation, the bill will become law without his signature after the 15th day.
HB 1127 provides for the repeal of two regular assessments levied by Citizens Property Insurance Corporation against certain Florida property and casualty policyholders and reduces a third regular assessment. Specifically, HB 1127 eliminates the regular assessment for the PLA and the CLA and reduces the assessment percentage for the Coastal Account from six percent to two percent.
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