HOUSE AMENDMENT Bill No. HB 1353
1	CHAMBER ACTION
2	Senate House
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12	Representative Patterson offered the following:
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14	Amendment
15	Remove line(s) 255-344, and insert:
16	2.Any assessment authority not used for the contract year
17	may be used for a subsequent contract year. If, for a subsequent
18	contract year, the board determines that the amount of revenue
19	produced under subsection (5) is insufficient to fund the
20	obligations, costs, and expenses of the fund and the
21	corporation, including repayment of revenue bonds for that
22	contract year, the board shall direct the OfficeDepartmentof
23	Insurance Regulationto levy an emergency assessment up to an
24	amount not exceeding the amount of unused assessment authority
25	from a previous contract year or years, plus an additional 32
26	percent if the Governor has declared a state of emergency under
27	s. 252.36 due to the occurrence of a covered event. Any
28	assessment authority not used for the contract year may be used
29	for a subsequent contract year. As used in this subsection, the
30	term "property and casualty business" includes all lines of
31	business identified on Form 2, Exhibit of Premiums and Losses,
32	in the annual statement required of authorized insurersby s.
33	624.424 and any rules adopted under such section, except for
34	those lines identified as accident and health insurance. The
35	annual assessments under this subparagraph shall continue as
36	long as the revenue bonds issued with respect to which the
37	assessment was imposed are outstanding, unless adequate
38	provision has been made for the payment of such bonds pursuant
39	to the documents authorizing issuance of the bonds. An
40	assessableinsurer shall not at any time be subject to aggregate
41	annual assessments under this subparagraph of more than 32
42	percent of premium, except that in the case of a declared
43	emergency, an assessableinsurer shall not at any time be
44	subject to aggregate annual assessments under this subparagraph
45	of more than 86 percent of premium; provided, no more than 54
46	percent may be assessed for obligations arising due to losses in
47	any one contract year.
48	3.Any rate filing or portion of a rate filing reflecting
49	a rate change attributable entirely to the assessment levied
50	under this paragraphsubparagraphshall be deemed approved when
51	made, subject to the authority of the OfficeDepartmentof
52	Insurance Regulationto require actuarial justification as to
53	the adequacy of any rate at any time. If the rate filing
54	reflects only a rate change attributable to the assessment under
55	this paragraph, the filing may consist of a certification so
56	stating.
57	4.The assessments otherwise payable to the corporation
58	pursuant to this paragraphsubparagraphshall be paid instead to
59	the fund unless and until the OfficeDepartment of Insurance
60	Regulation and the Florida Surplus Lines Service Office havehas
61	received from the corporation and the fund a notice, which shall
62	be conclusive and upon which theythe Department of Insurance
63	may rely without further inquiry, that the corporation has
64	issued bonds and the fund has no agreements in effect with local
65	governments pursuant to paragraph (c)(b). On or after the date
66	of such notice and until such date as the corporation has no
67	bonds outstanding, the fund shall have no right, title, or
68	interest in or to the assessments, except as provided in the
69	fund's agreements with the corporation.
70	5. Emergency assessments are not premium and are not
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