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A bill to be entitled |
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An act relating to Citizens Property Insurance |
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Corporation; creating the Citizens Property
Insurance |
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Corporation Liquidation Task Force; providing
purposes; |
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providing for appointment of members; providing |
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responsibilities; specifying service without
compensation; |
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providing for reimbursement of per diem and
travel |
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expenses; providing meeting requirements;
requiring a |
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report; providing for the expiration of the task
force; |
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providing an appropriation; providing an
effective date. |
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|
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Be It Enacted by the Legislature of the State of
Florida: |
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|
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Section 1. (1) The
Citizens Property Insurance |
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Corporation Liquidation Task
Force is created to analyze and |
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compile available data that is
pertinent to the development of a |
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business plan that will
provide for the liquidation of all |
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assets belonging to Citizens
Property Insurance Corporation and |
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to organize all conclusive
data into a comprehensive business |
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strategy, subject to review by
the Governor, the President of |
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the Senate, and the Speaker of
the House of Representatives. At |
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a minimum, the task force
shall plan and make recommendations |
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concerning: |
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(a) Development
of a plan that is economically sound for |
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the purpose of liquidating
Citizens Property Insurance |
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Corporation by January 31,
2012. |
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(b) Reinsurance
and multiperil policy provisions among |
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private-sector companies with
respect to potential consumer |
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demand as a result of the
liquidation of Citizens Property |
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Insurance Corporation and all
other actuarial effects to private |
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insurance providers as a
result of such liquidation. |
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(c) All
legislative, executive, and procedural actions |
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within the purview of the
Legislature that are necessary to |
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liquidate Citizens Property
Insurance Corporation by January 31, |
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2012. |
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(d) Any
other data that is essential to the development |
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and implementation of a
comprehensive business strategy for the |
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liquidation of Citizens
Property Insurance Corporation by |
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January 31, 2012. |
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(2) The
task force shall be composed of 15 members as |
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follows: |
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(a) Three
members of the House of Representatives, to be |
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appointed by the Speaker of
the House of Representatives as ex |
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officio, nonvoting members. |
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(b) Three
members of the Senate, to be appointed by the |
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President of the Senate as ex
officio, nonvoting members. |
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(c) Three
members to be appointed by the Governor who are |
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not professionally affiliated
with any insurance company or a |
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subsidiary of an insurance
company. |
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(d) Six
appointed representatives of private-sector |
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insurance companies as
follows: |
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1. Two
members representing two separate insurance |
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companies in this state that
each provide at least 1 million |
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property insurance policies
statewide at the time of the |
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creation of the task force. |
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2. Two
members representing two separate insurance |
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companies in this state that
each provide at least 130,000 but |
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no more than 150,000 property
insurance policies statewide at |
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the time of the creation of
the task force. |
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3. Two
members representing two separate insurance |
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companies in this state that
each provide fewer than 100,000 |
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property insurance policies
statewide at the time of the |
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creation of the task force. |
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Of each pair of members
appointed under subparagraphs 1., 2., |
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and 3., one shall be appointed
by the President of the Senate |
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and one by the Speaker of the
House of Representatives. |
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(3) The
task force shall conduct research, hold public |
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meetings, receive testimony,
employ consultants and |
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administrative staff, and
undertake other activities determined |
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by its members to be necessary
to complete its responsibilities. |
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(4) A
member of the task force may not delegate his or her |
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attendance or voting power to
a designee. |
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(5) Members
of the task force shall serve without |
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compensation but are entitled
to receive reimbursement for |
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travel and per diem as
provided in s. 112.061, Florida Statutes. |
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(6) The
appointments to the task force must be completed |
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within 30 calendar days after
the effective date of this act, |
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and the task force must hold
its initial meeting within 1 month |
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after appointment of all
members. The task force shall submit a |
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report containing
recommendations for a business plan to |
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liquidate the assets of
Citizens Property Insurance Corporation |
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to the Governor, the President
of the Senate, and the Speaker of |
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the House of Representatives
by January 31, 2008. The task force |
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shall expire no later than 60
calendar days after submission of |
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the report. |
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Section 2. For
the 2007-2008 fiscal year, the nonrecurring |
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sum of $250,000 is
appropriated from the General Revenue Fund |
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for the purpose of
implementing this act. |
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Section 3. This
act shall take effect upon becoming a law. |