Insurance Capital Build-Up Incentive Program: Development of Rulemaking

The Florida State Board of Administration (“SBA”) has issued a Notice of Development of Rulemaking for Rule 19-15.001: Insurance Capital Build-Up Incentive Program (“Program”)

During the 2008 Legislative Session, the Florida Legislature made changes to the Program, Section 215.5595, F.S. As a result, an amendment to Rule 19-15.001, F.A.C. is necessary.

Governor Crist recently vetoed Section 16 of CS/SB 2860 that authorized funding for the Program.  As a result, final language for the proposed Rule 19-15.001 may not be finalized by the SBA until the Governor signs the State’s budget bill. 

If requested in writing and not deemed unnecessary by the Agency Head, a Rule Development Workshop Notice will be posted in the next available Florida Administrative Weekly.

 

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

 

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