Bill Summary

HB 561 Florida Hurricane Catastrophe Fund (2019 Session)
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Sponsors
by Santiago
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Summary
Florida Hurricane Catastrophe Fund: Revises retention multiple to be used starting on specified date; specifies method by which retention multiple must be adjusted for certain coverage levels; requires fund's rate formula to provide for rapid cash build-up; specifies how rapid cash build-up factor trigger is to be calculated; revises amount of money Legislature must appropriate each fiscal year; provides legislative intent that participating insurers must make one special rate filing after specified date; provides parameters & approval mechanism for such rate filing. Effective Date: upon becoming a law
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committees of reference
Committee references not assigned.
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Actions
01/25/19
HOUSE 
Filed
02/06/19
HOUSE 
Referred to Insurance & Banking Subcommittee; Government Operations & Technology Appropriations Subcommittee; Commerce Committee
02/06/19
HOUSE 
Now in Insurance & Banking Subcommittee
02/08/19
HOUSE 
Withdrawn prior to introduction
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bill text & filed amendments
0561
Filed on 01/25/19
PDF
No amendments to this bill text filed.
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Statute Citations
215.555
Research & Reports
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