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CS/HB 715 — Eligibility for Coverage by Citizens Property Insurance Corporation

by Insurance and Banking Subcommittee; and Rep. Raschein (CS/SB 842 by Banking and Insurance Committee; and Senator Benacquisto)

This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.

Prepared by: Banking and Insurance Committee (BI)

The bill prohibits Citizens Property Insurance Corporation from issuing coverage to a major structure as defined in s. 161.54(6)(a), F.S., that is located within the Coastal Construction Control Line (CCCL) or Coastal Barrier Resources System (CBRS) if the permit to build or to increase the total square footage of the structure by more than 25 percent is applied for after July 1, 2015.

If approved by the Governor, these provisions take effect July 1, 2015.

Vote: Senate 38-0; House 114-0