Governor Signs Insurance Premium Tax Credit Corporate Scholarship Bill; Vetoes Condo Loss Assessment Coverage Bill
Jun 1, 2009
Florida Governor Charlie Crist signed twenty-eight bills into law today, June 1, 2009, among which was Senate Bill 360, a comprehensive bill relating to growth management that also encourages storm-resistant construction and House Bill 453, which extends a state corporate scholarship donation tax credit to include credits for insurance premium taxes.
However, Governor Crist vetoed SB 714 relating to condominiums, which would have repealed certain requirements placed on condominium unit owners, including the mandate to maintain property insurance coverage, and a requirement that a condominium association must be a named insured and loss payee on policies issued to unit owners. SB 714 also would have repealed the provision that a condominium association may purchase property insurance at the expense of a unit owner who does not provide proof of insurance.
Surplus Lines Bill Received for Action
Governor Crist also was presented with eighteen bills today, among which was HB 853 relating to Surplus Lines Insurers, which provides that Chapter 627, F.S. does not apply to surplus lines insurers unless specifically stated. The Governor must act on HB 853 by Monday, June 15, 2009. The bill is effective upon becoming law.
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