House Jobs and Entrepreneurship Council March 27 Meeting Report

The House Jobs and Entrepreneurship Council (“Council”) met on Thursday, March 27, 2008 for a budget workshop.  Subsequent to the workshop, the Council considered several insurance-related bills.  Among the legislation approved was PCB JEC 08-10, a proposed committee bill that would use surplus funds from Citizens Property Insurance Company (“Citizens”) to fund the Insurance Capital Build-Up Incentive Program (“Program”). 

PCB JEC 08-10 directs Citizens to transfer $100 million to the General Revenue Fund on or before August 1, 2008 for the Program.  The bill also requires companies participating in the 2008 Program to take out a certain amount of policies from Citizens during the first three years after receiving the surplus note. 
 
The Council also approved House Bill 1161 by Representative Don Brown (R-Defuniak Springs), which amends statutes that govern how self-insurance funds pay dividends to members.

Two bills relating to health insurance were approved as well.
 
The Senate Banking and Insurance Committee, which is next scheduled to meet on April 1 from 9:30 a.m.-11:00 a.m., will take up various property and casualty-related bills, including some that were not heard in the Committee’s previous meeting. 

SB 2488  Relating to Future Property Insurance Claims/Escrow Reserves by Senator Bill Posey
SB 1422  Relating to Commercial Property Insurance by Senator Mike Bennett 
SB 2528  Relating to Insurance Agents by Senator Ted Deutch 
SB 2462  Relating to Group Self-insurance Funds by Senator Don Gaetz 

Committee Chairman Bill Posey (R-Rockledge) also has placed a shell bill, SB 2174, on the agenda and an amendment is expected to be released for it on Monday, March 31.

 

Should you have any questions or comments, please do not hesitate to contact this office.

 

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