Committee/Subcommittee Amendment — PCS for HB 1503 (2024), Amendment No. 1 (Insurance & Banking Subcommittee)

Summary

A Committee/Subcommittee Amendment, Amendment No. 1, to PCS for HB 1503 (2024), for the Insurance & Banking Subcommittee, offered by Representative Esposito. The amendment, with a title amendment, inserts text between lines 3128 and 3129. The inserted text says that in a county not determined to lack a reasonable degree of competition at the county level, the office may evaluate competition within an individual zip code. If the office determines that a zip code lacks a reasonable degree of competition, structures with dwelling replacement costs between $700,000 and $1 million are eligible for coverage by the corporation.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

                                           COMMITTEE/SUBCOMMITTEE AMENDMENT
                                           Bill No. PCS for HB 1503   (2024)
       Amendment No. 1




            COMMITTEE/SUBCOMMITTEE ACTION
       ADOPTED                     (Y/N)
       ADOPTED AS AMENDED          (Y/N)
       ADOPTED W/O OBJECTION       (Y/N)
       FAILED TO ADOPT             (Y/N)
       WITHDRAWN                   (Y/N)
       OTHER


 1     Committee/Subcommittee hearing bill:     Insurance & Banking
 2     Subcommittee
 3     Representative Esposito offered the following:
 4
 5          Amendment (with title amendment)
 6          Between lines 3128 and 3129, insert:
 7          (oo) In a county that has not been determined to lack a
 8     reasonable degree of competition at the county level pursuant to
 9     sub-subparagraph (6)(a)3.a. the office may evaluate whether
10     there is a reasonable degree of competition within an individual
11     zip code in a county. If the office determines that such zip
12     code lacks a reasonable degree of competition, then structures
13     with dwelling replacement costs between $700,000 and $1 million,
14     and single condominium units that have a combined dwelling and
15     contents replacement cost between $700,000 and $1 million are
16     eligible for coverage by the corporation. However, the rate
     PCS for HB 1503 a1
      Published On: 1/31/2024 8:35:34 PM
                                  Page 1 of 2
                                           COMMITTEE/SUBCOMMITTEE AMENDMENT
                                           Bill No. PCS for HB 1503   (2024)
       Amendment No. 1


17     charged for policies issued on these risks is not subject to
18     subparagraph (n)5.
19
20
21           -----------------------------------------------------
22                          T I T L E   A M E N D M E N T
23          Remove line 62 and insert:
24     with a specified entity; creating new eligibility criteria for
25     coverage by the corporation; amending s. 627.3511, F.S.;




     PCS for HB 1503 a1
      Published On: 1/31/2024 8:35:34 PM
                                    Page 2 of 2


File and source

File

2024_3228_insurance-banking-subcommittee_proposed-committee-bill-amendments_fn-pcs-for-hb-1503-a1.pdf

Size

116,827 bytes

SHA-256

409181544f75bd548495ceb4487eb68623f084dcd9c5f787e927743629c6eeed

Our copy

2024_3228_insurance-banking-subcommittee_proposed-committee-bill-amendments_fn-pcs-for-hb-1503-a1.pdf

Original

www.flhouse.gov