Senate General Government Appropriations Committee Approves Three Insurance-Related Bills
Jan 7, 2009
The Senate General Government Appropriations Committee, chaired by Senator Carey Baker, evaluated three insurance-related proposals in the context of budget-related bills on Wednesday, January 7 as part of the Special Session on Florida’s budget currently in progress.
Senate Bill 28-A
Committee Substitute for Senate Bill 28-A was approved unanimously. As amended, this bill proposes to redirect to Florida’s General Revenue Fund those payments made pursuant to surplus notes issued under Florida’s Insurance Capital Build-Up Incentive Program.
To view the Committee Substitute for Senate Bill 28-A, click here.
The bill’s fiscal impact will be evaluated by the Florida Office of Economic & Demographic Research Revenue Estimating Impact Conference, which is scheduled to meet on Thursday, January 8 at 8:30 a.m. in Room 117 of the Knott Building, The Capitol, Tallahassee, Florida.
Senate Bill 20-A
The Committee also approved a proposal eliminating the requirement that the Department of Financial Services (“DFS”) set-aside $10 million in funding for the My Safe Florida Home Program’s no-interest loan program.
This proposal was contained in an amendment to Senate Bill 20-A.
To view the Committee Substitute for Senate Bill 20-A, click here.
Proposed Committee Bill 8008-A
In Senate Proposed Committee Bill 8008-A, appropriations were made from certain named funds for use by various State agencies for fiscal year 2008-2009.
DFS was allocated $1,397,619, which was mostly derived from the Insurance Regulatory Trust Fund for proposed use in paying Departmental salaries, operational expenses and fixed capital outlay.
PCB 8008-A will be submitted as a Committee Bill.
Should you have any questions or comments, please do not hesitate to contact Colodny Fass.
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