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CS/CS/HB 421 — Public Housing Authority Insurance

by Commerce Committee; Insurance and Banking Subcommittee; and Rep. Shaw (CS/SB 850 by Banking and Insurance Committee and Senator Rouson)

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 allows a for-profit or not-for-profit corporation, limited liability company, or other similar business entity in which a public housing authority holds an ownership interest or participates in its governance under s. 421.08(8), F.S., to join a self-insurance fund formed under s. 624.46226, F.S., in which the public housing authority participates. The entity may join the self-insurance fund solely to insure risks related to public housing.

If approved by the Governor, these provisions take effect July 1, 2017.

Vote: Senate 36-0; House 117-0