Senator JD Alexander Adds Funding Mechanism for Florida Hurricane Catastrophe Fund to Budget Conforming Bill (HB 5505)

Mar 8, 2012


At a Budget Conference meeting this afternoon, March 8, 2012, Florida Senator JD Alexander proposed changes to the Florida Hurricane Catastrophe Fund in House Bill 5505, a budget conforming bill.  The new language reads:

“Authorizes the Governor, at his option, to direct the State Board of Administration to create the Florida Insurance Premium Tax Pre-Payment Program in order to provide an additional funding mechanism for the Florida Hurricane Catastrophe Fund.”

The offer was accepted by the House of Representatives and will be included in HB 5505. 

A vote on this bill is expected tomorrow, the final day of the 2012 Regular Session unless extended.


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