1 |
A bill to be entitled |
2 |
An act relating to Citizens Property Insurance |
3 |
Corporation; creating the Citizens Property
Insurance |
4 |
Corporation Liquidation Task Force; providing
purposes; |
5 |
providing for appointment of members; providing |
6 |
responsibilities; specifying service without
compensation; |
7 |
providing for reimbursement of per diem and
travel |
8 |
expenses; providing meeting requirements;
requiring a |
9 |
report; providing for the expiration of the task
force; |
10 |
providing an appropriation; providing an
effective date. |
11 |
|
12 |
Be It Enacted by the Legislature of the State of
Florida: |
13 |
|
14 |
Section 1. (1) The
Citizens Property Insurance |
15 |
Corporation Liquidation Task
Force is created to analyze and |
16 |
compile available data that is
pertinent to the development of a |
17 |
business plan that will
provide for the liquidation of all |
18 |
assets belonging to Citizens
Property Insurance Corporation and |
19 |
to organize all conclusive
data into a comprehensive business |
20 |
strategy, subject to review by
the Governor, the President of |
21 |
the Senate, and the Speaker of
the House of Representatives. At |
22 |
a minimum, the task force
shall plan and make recommendations |
23 |
concerning: |
24 |
(a) Development
of a plan that is economically sound for |
25 |
the purpose of liquidating
Citizens Property Insurance |
26 |
Corporation by January 31,
2012. |
27 |
(b) Reinsurance
and multiperil policy provisions among |
28 |
private-sector companies with
respect to potential consumer |
29 |
demand as a result of the
liquidation of Citizens Property |
30 |
Insurance Corporation and all
other actuarial effects to private |
31 |
insurance providers as a
result of such liquidation. |
32 |
(c) All
legislative, executive, and procedural actions |
33 |
within the purview of the
Legislature that are necessary to |
34 |
liquidate Citizens Property
Insurance Corporation by January 31, |
35 |
2012. |
36 |
(d) Any
other data that is essential to the development |
37 |
and implementation of a
comprehensive business strategy for the |
38 |
liquidation of Citizens
Property Insurance Corporation by |
39 |
January 31, 2012. |
40 |
(2) The
task force shall be composed of 15 members as |
41 |
follows: |
42 |
(a) Three
members of the House of Representatives, to be |
43 |
appointed by the Speaker of
the House of Representatives as ex |
44 |
officio, nonvoting members. |
45 |
(b) Three
members of the Senate, to be appointed by the |
46 |
President of the Senate as ex
officio, nonvoting members. |
47 |
(c) Three
members to be appointed by the Governor who are |
48 |
not professionally affiliated
with any insurance company or a |
49 |
subsidiary of an insurance
company. |
50 |
(d) Six
appointed representatives of private-sector |
51 |
insurance companies as
follows: |
52 |
1. Two
members representing two separate insurance |
53 |
companies in this state that
each provide at least 1 million |
54 |
property insurance policies
statewide at the time of the |
55 |
creation of the task force. |
56 |
2. Two
members representing two separate insurance |
57 |
companies in this state that
each provide at least 130,000 but |
58 |
no more than 150,000 property
insurance policies statewide at |
59 |
the time of the creation of
the task force. |
60 |
3. Two
members representing two separate insurance |
61 |
companies in this state that
each provide fewer than 100,000 |
62 |
property insurance policies
statewide at the time of the |
63 |
creation of the task force. |
64 |
|
65 |
Of each pair of members
appointed under subparagraphs 1., 2., |
66 |
and 3., one shall be appointed
by the President of the Senate |
67 |
and one by the Speaker of the
House of Representatives. |
68 |
(3) The
task force shall conduct research, hold public |
69 |
meetings, receive testimony,
employ consultants and |
70 |
administrative staff, and
undertake other activities determined |
71 |
by its members to be necessary
to complete its responsibilities. |
72 |
(4) A
member of the task force may not delegate his or her |
73 |
attendance or voting power to
a designee. |
74 |
(5) Members
of the task force shall serve without |
75 |
compensation but are entitled
to receive reimbursement for |
76 |
travel and per diem as
provided in s. 112.061, Florida Statutes. |
77 |
(6) The
appointments to the task force must be completed |
78 |
within 30 calendar days after
the effective date of this act, |
79 |
and the task force must hold
its initial meeting within 1 month |
80 |
after appointment of all
members. The task force shall submit a |
81 |
report containing
recommendations for a business plan to |
82 |
liquidate the assets of
Citizens Property Insurance Corporation |
83 |
to the Governor, the President
of the Senate, and the Speaker of |
84 |
the House of Representatives
by January 31, 2008. The task force |
85 |
shall expire no later than 60
calendar days after submission of |
86 |
the report. |
87 |
Section 2. For
the 2007-2008 fiscal year, the nonrecurring |
88 |
sum of $250,000 is
appropriated from the General Revenue Fund |
89 |
for the purpose of
implementing this act. |
90 |
Section 3. This
act shall take effect upon becoming a law. |