Florida Cabinet Meeting Report: December 9, 2008

On Tuesday, December 9, 2008, the Florida Cabinet met in Tallahassee, Florida.  Below is a brief overview of pertinent insurance-related actions taken during the meeting.  To view the complete meeting agenda, click here.

Florida State Board of Administration

• The October, 2008 Local Government Investment Pool Management Summary Report and subsequent actions to address any resulting material impacts were approved.
• Two revised Florida Retirement System Investment Policy Statements (Defined Benefit and Defined Contribution Plans) were approved.

Office of Insurance Regulation

• The Repeal of Proposed Rule 69N-121.066:  Informal Conferences was withdrawn.
• Approval for the publication of amendments to Proposed Rule 69N-121.066:  Informal Conferences was withdrawn for further clarification and will be discussed during the January, 2009 Cabinet meeting.
• Approval for the publication of proposed Rule 69O-125.005:  Use of Credit Reports and Credit Scores by Insurers was withdrawn for further clarification and will be discussed during the January, 2009 Cabinet meeting.

Florida Department of Revenue

• Approval of an Emergency Rule to ensure that Florida corporate taxpayers retain the same depreciation and expensing deduction in 2008 and subsequent years as they have in the past was granted.
• Hyperlinks to the Emergency Rule and a letter from Governor Charlie Crist are included below:
  • Governor Crist’s Letter to Cabinet
  • Florida Department of Revenue’s Proposed Emergency Rule

The meeting was then adjourned.

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

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