Amendment
Bill No. 7225

Amendment No. 461095

CHAMBER ACTION
Senate		House
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1	Representative Sands offered the following:
2
3	Amendment (with title amendment)
4	Remove lines 251-3719 and insert:
5	215.555  Florida Hurricane Catastrophe Fund.--
6	(6)  REVENUE BONDS.--
7	(b)  Emergency assessments.--
8	1.  If the board determines that the amount of revenue
9	produced under subsection (5) is insufficient to fund the
10	obligations, costs, and expenses of the fund and the
11	corporation, including repayment of revenue bonds and that
12	portion of the debt service coverage not met by reimbursement
13	premiums, the board shall direct the Office of Insurance
14	Regulation to levy, by order, an emergency assessment on direct
15	premiums for all property and casualty lines of business in this
16	state, including property and casualty business of surplus lines
17	insurers regulated under part VIII of chapter 626, but not
18	including any workers' compensation premiums or medical
19	malpractice premiums. As used in this subsection, the term
20	"property and casualty business" includes all lines of business
21	identified on Form 2, Exhibit of Premiums and Losses, in the
22	annual statement required of authorized insurers by s. 624.424
23	and any rule adopted under this section, except for those lines
24	identified as accident and health insurance and except for
25	policies written under the National Flood Insurance Program. The
26	assessment shall be specified as a percentage of future premium
27	collections and is subject to annual adjustments by the board to
28	reflect changes in premiums subject to assessments collected
29	under this subparagraph in order to meet debt obligations. The
30	same percentage shall apply to all policies in lines of business
31	subject to the assessment issued or renewed during the 12-month
32	period beginning on the effective date of the assessment.
33	2.  A premium is not subject to an annual assessment under
34	this paragraph in excess of 6 percent of premium with respect to
35	obligations arising out of losses attributable to any one
36	contract year, and a premium is not subject to an aggregate
37	annual assessment under this paragraph in excess of 10 percent
38	of premium. An annual assessment under this paragraph shall
39	continue until the revenue bonds issued with respect to which
40	the assessment was imposed are outstanding, including any bonds
41	the proceeds of which were used to refund the revenue bonds,
42	unless adequate provision has been made for the payment of the
43	bonds under the documents authorizing issuance of the bonds.
44	3.  With respect to each insurer collecting premiums that
45	are subject to the assessment, the insurer shall collect the
46	assessment at the same time as it collects the premium payment
47	for each policy and shall remit the assessment collected to the
48	fund or corporation as provided in the order issued by the
49	Office of Insurance Regulation. The office shall verify the
50	accurate and timely collection and remittance of emergency
51	assessments and shall report the information to the board in a
52	form and at a time specified by the board. Each insurer
53	collecting assessments shall provide the information with
54	respect to premiums and collections as may be required by the
55	office to enable the office to monitor and verify compliance
56	with this paragraph.
57	4.  With respect to assessments of surplus lines premiums,
58	each surplus lines agent shall collect the assessment at the
59	same time as the agent collects the surplus lines tax required
60	by s. 626.932, and the surplus lines agent shall remit the
61	assessment to the Florida Surplus Lines Service Office created
62	by s. 626.921 at the same time as the agent remits the surplus
63	lines tax to the Florida Surplus Lines Service Office. The
64	emergency assessment on each insured procuring coverage and
65	filing under s. 626.938 shall be remitted by the insured to the
66	Florida Surplus Lines Service Office at the time the insured
67	pays the surplus lines tax to the Florida Surplus Lines Service
68	Office. The Florida Surplus Lines Service Office shall remit the
69	collected assessments to the fund or corporation as provided in
70	the order levied by the Office of Insurance Regulation. The
71	Florida Surplus Lines Service Office shall verify the proper
72	application of such emergency assessments and shall assist the
73	board in ensuring the accurate and timely collection and
74	remittance of assessments as required by the board. The Florida
75	Surplus Lines Service Office shall annually calculate the
76	aggregate written premium on property and casualty business,
77	other than workers' compensation and medical malpractice,
78	procured through surplus lines agents and insureds procuring
79	coverage and filing under s. 626.938 and shall report the
80	information to the board in a form and at a time specified by
81	the board.
82	5.  Any assessment authority not used for a particular
83	contract year may be used for a subsequent contract year. If,
84	for a subsequent contract year, the board determines that the
85	amount of revenue produced under subsection (5) is insufficient
86	to fund the obligations, costs, and expenses of the fund and the
87	corporation, including repayment of revenue bonds and that
88	portion of the debt service coverage not met by reimbursement
89	premiums, the board shall direct the Office of Insurance
90	Regulation to levy an emergency assessment up to an amount not
91	exceeding the amount of unused assessment authority from a
92	previous contract year or years, plus an additional 4 percent
93	provided that the assessments in the aggregate do not exceed the
94	limits specified in subparagraph 2.
95	6.  The assessments otherwise payable to the corporation
96	under this paragraph shall be paid to the fund unless and until
97	the Office of Insurance Regulation and the Florida Surplus Lines
98	Service Office have received from the corporation and the fund a
99	notice, which shall be conclusive and upon which they may rely
100	without further inquiry, that the corporation has issued bonds
101	and the fund has no agreements in effect with local governments
102	under paragraph (c). On or after the date of the notice and
103	until the date the corporation has no bonds outstanding, the
104	fund shall have no right, title, or interest in or to the
105	assessments, except as provided in the fund's agreement with the
106	corporation.
107	7.  Emergency assessments are not premium and are not
108	subject to the premium tax, to the surplus lines tax, to any
109	fees, or to any commissions. An insurer is liable for all
110	assessments that it collects and must treat the failure of an
111	insured to pay an assessment as a failure to pay the premium. An
112	insurer is not liable for uncollectible assessments.
113	8.  When an insurer is required to return an unearned
114	premium, it shall also return any collected assessment
115	attributable to the unearned premium. A credit adjustment to the
116	collected assessment may be made by the insurer with regard to
117	future remittances that are payable to the fund or corporation,
118	but the insurer is not entitled to a refund.
119	9.  When a surplus lines insured or an insured who has
120	procured coverage and filed under s. 626.938 is entitled to the
121	return of an unearned premium, the Florida Surplus Lines Service
122	Office shall provide a credit or refund to the agent or such
123	insured for the collected assessment attributable to the
124	unearned premium prior to remitting the emergency assessment
125	collected to the fund or corporation.
126	10.  The exemption of medical malpractice insurance
127	premiums from emergency assessments under this paragraph is
128	repealed May 31, 2010 2007, and medical malpractice insurance
129	premiums shall be subject to emergency assessments attributable
130	to loss events occurring in the contract years commencing on
131	June 1, 2010 2007.
132	Section 2.  Section 215.558, Florida Statutes, is created
133	to read:
134	215.558  Florida Hurricane Damage Prevention Endowment.--
135	(1)  PURPOSE AND INTENT.--The purpose of this section is to
136	provide a continuing source of funding for financial incentives
137	to encourage residential property owners of this state to
138	retrofit their properties to make them less vulnerable to
139	hurricane damage, to help decrease the cost of residential
140	property and casualty insurance, and to provide matching funds
141	to local governments and nonprofit entities for projects that
142	will reduce hurricane damage to residential properties. It is
143	the intent of the Legislature that this section be construed
144	liberally to effectuate its purpose.
145	(2)  DEFINITIONS.--As used in this section:
146	(a)  "Board" means the State Board of Administration.
147	(b)  "Corpus" means the money that has been appropriated to
148	the endowment by the 2006 Legislature, together with any amounts
149	subsequently appropriated to the endowment that are specifically
150	designated as contributions to the corpus and any grants, gifts,
151	or donations to the endowment that are specifically designated
152	as contributions to the corpus.
153	(c)  "Earnings" means any money in the endowment in excess
154	of the corpus, including any income generated by investments,
155	any increase in the market value of investments net of decreases
156	in market value, and any appropriations, grants, gifts, or
157	donations to the endowment not specifically designated as
158	contributions to the corpus.
159	(d)  "Endowment" means the Florida Hurricane Damage
160	Prevention Endowment created by this section.
161	(e)  "Program administrator" means the Department of
162	Financial Services.
163	(3)  ADMINISTRATION.--
164	(a)  The board shall invest endowment assets as provided in
165	this section.
166	(b)  The board may invest and reinvest funds of the
167	endowment in accordance with s. 215.47 and consistent with board
168	policy.
169	(c)  The investment objective shall be long-term
170	preservation of the value of the corpus and a specified regular
171	annual cash outflow for appropriation, as nonrecurring revenue,
172	for the purposes specified in subsection (4).
173	(d)  In accordance with s. 215.44, the board shall report
174	on the financial status of the endowment in its annual
175	investment report to the Legislature.
176	(e)  Costs and fees of the board for investment services
177	shall be deducted from the assets of the endowment.
178	(4)  FINANCIAL INCENTIVES FOR RESIDENTIAL HURRICANE DAMAGE
179	PREVENTION ACTIVITIES.--
180	(a)  Not less than 80 percent of the net earnings of the
181	endowment shall be expended for financial incentives to
182	residential property owners as described in paragraph (b), and
183	no more than the remainder of the net earnings of the endowment
184	shall be expended for matching fund grants to local governments
185	and nonprofit entities for projects that will reduce hurricane
186	damage to residential properties as described in paragraph (c).
187	Any funds authorized for expenditure but not expended for these
188	purposes shall be returned to the endowment.
189	(b)1.  The program administrator, by rule, shall establish
190	a request for a proposal process to annually solicit proposals
191	from lending institutions under which the lending institution
192	will provide interest-free loans to homestead property owners to
193	pay for inspections of homestead property to determine what
194	mitigation measures are needed and for improvements to existing
195	residential properties intended to reduce the homestead
196	property's vulnerability to hurricane damage, in exchange for
197	funding from the endowment.
198	2.  In order to qualify for funding under this paragraph,
199	an interest-free loan program must include an inspection of
200	homestead property to determine what mitigation measures are
201	needed, a means for verifying that the improvements to be paid
202	for from loan proceeds have been demonstrated to reduce a
203	homestead property's vulnerability to hurricane damage, and a
204	means for verifying that the proceeds were actually spent on
205	such improvements. The program must include a method for
206	awarding loans according to the following priorities:
207	a.  The highest priority must be given to single-family
208	owner-occupied homestead dwellings, insured at $500,000 or less,
209	located in the areas designated as high-risk areas for purposes
210	of coverage by the Citizens Property Insurance Corporation.
211	b.  The next highest priority must be given to single-
212	family owner-occupied homestead dwellings, insured at $500,000
213	or less, covered by the Citizens Property Insurance Corporation,
214	wherever located.
215	c.  The next highest priority must be given to single-
216	family owner-occupied homestead dwellings, insured at $500,000
217	or less, that are more than 40 years old.
218	d.  The next highest priority must be given to all other
219	single-family owner-occupied homestead dwellings insured at
220	$500,000 or less.
221	3.  The program administrator shall evaluate proposals
222	based on the following factors:
223	a.  The degree to which the proposal meets the requirements
224	of subparagraph 2.
225	b.  The lending institution's plan for marketing the loans.
226	c.  The anticipated number of loans to be granted relative
227	to the total amount of funding sought.
228	4.  The program administrator shall annually solicit
229	proposals from local governments and nonprofit entities for
230	projects that will reduce hurricane damage to homestead
231	properties. The program administrator may provide up to 50
232	percent of the funding for such projects. The projects may
233	include educational programs, repair services, property
234	inspections, and hurricane vulnerability analyses and such other
235	projects as the program administrator determines to be
236	consistent with the purposes of this section.
237	(5)  ADVISORY COUNCIL.--There is created an advisory
238	council to provide advice and assistance to the program
239	administrator with regard to its administration of the
240	endowment. The advisory council shall consist of:
241	(a)  A representative of lending institutions, selected by
242	the Financial Services Commission from a list of at least three
243	persons recommended by the Florida Bankers Association.
244	(b)  A representative of residential property insurers,
245	selected by the Financial Services Commission from a list of at
246	least three persons recommended by the Florida Insurance
247	Council.
248	(c)  A representative of home builders, selected by the
249	Financial Services Commission from a list of at least three
250	persons recommended by the Florida Home Builders Association.
251	(d)  A faculty member of a state university selected by the
252	Financial Services Commission who is an expert in hurricane-
253	resistant construction methodologies and materials.
254	(e)  Two members of the House of Representatives selected
255	by the Speaker of the House of Representatives.
256	(f)  Two members of the Senate selected by the President of
257	the Senate.
258	(g)  The senior officer of the Florida Hurricane
259	Catastrophe Fund.
260	(h)  The executive director of Citizens Property Insurance
261	Corporation.
262	(i)  The director of the Division of Emergency Management
263	of the Department of Community Affairs.
264
265	Members appointed under paragraphs (a)-(d) shall serve at the
266	pleasure of the Financial Services Commission. Members appointed
267	under paragraphs (e) and (f) shall serve at the pleasure of the
268	appointing officer. All other members shall serve ex officio.
269	Members of the advisory council shall serve without compensation
270	but may receive reimbursement as provided in s. 112.061 for per
271	diem and travel expenses incurred in the performance of their
272	official duties.
273	Section 3.  Section 215.5586, Florida Statutes, is created
274	to read:
275	215.5586  Florida Comprehensive Hurricane Damage Mitigation
276	Program.--There is established within the Department of
277	Financial Services the Florida Comprehensive Hurricane Damage
278	Mitigation Program. The program shall be administered by an
279	individual with prior executive experience in the private sector
280	in the areas of insurance, business, or construction. The
281	program shall develop and implement a comprehensive and
282	coordinated approach for hurricane damage mitigation that shall
283	include the following:
284	(1)  WIND CERTIFICATION AND HURRICANE MITIGATION
285	INSPECTIONS.--
286	(a)  Free home-retrofit inspections of site-built,
287	residential property, including single-family, two-family,
288	three-family, or four-family residential units, shall be offered
289	to determine what mitigation measures are needed and what
290	improvements to existing residential properties are needed to
291	reduce the property's vulnerability to hurricane damage. The
292	Department of Financial Services shall establish a request for
293	proposals to solicit proposals from wind certification entities
294	to provide at no cost to homeowners wind certification and
295	hurricane mitigation inspections. The inspections provided to
296	homeowners, at a minimum, must include:
297	1.  A home inspection and report that summarizes the
298	results and identifies corrective actions a homeowner may take
299	to mitigate hurricane damage.
300	2.  A range of cost estimates regarding the mitigation
301	features.
302	3.  Insurer-specific information regarding premium
303	discounts correlated to recommended mitigation features
304	identified by the inspection.
305	4.  A hurricane resistance rating scale specifying the
306	home's current as well as projected wind resistance
307	capabilities.
308	(b)  To qualify for selection by the department as a
309	provider of wind certification and hurricane mitigation
310	inspections, the entity shall, at a minimum:
311	1.  Use wind certification and hurricane mitigation
312	inspectors who:
313	a.  Have prior experience in residential construction or
314	inspection and have received specialized training in hurricane
315	mitigation procedures.
316	b.  Have undergone drug testing and background checks.
317	c.  Have been certified, in a manner satisfactory to the
318	department, to conduct the inspections.
319	2.  Provide a quality assurance program including a
320	reinspection component.
321	(2)  GRANTS.--Financial grants shall be used to encourage
322	single-family, site-built, owner-occupied, residential property
323	owners to retrofit their properties to make them less vulnerable
324	to hurricane damage.
325	(a)  To be eligible for a grant, a residential property
326	must:
327	1.  Have been granted a homestead exemption under chapter
328	196.
329	2.  Be a dwelling with an insured value of $500,000 or
330	less.
331	3.  Have undergone an acceptable wind certification and
332	hurricane mitigation inspection.
333
334	A residential property which is part of a multi-family
335	residential unit may receive a grant only if all homeowners
336	participate and the total number of units does not exceed four.
337	(b)  All grants must be matched on a dollar-for-dollar
338	basis for a total of $10,000 for the mitigation project with the
339	state's contribution not to exceed $5,000.
340	(c)  The program shall create a process in which mitigation
341	contractors agree to participate and seek reimbursement from the
342	state and homeowners select from a list of participating
343	contractors. All mitigation must be based upon the securing of
344	all required local permits and inspections. Mitigation projects
345	are subject to random reinspection of up to at least 10 percent
346	of all projects.
347	(d)  Matching fund grants shall also be made available to
348	local governments and nonprofit entities for projects that will
349	reduce hurricane damage to single-family, site-built, owner-
350	occupied, residential property.
351	(3)  LOANS.--Financial incentives shall be provided as
352	authorized by s. 215.558.
353	(4)  EDUCATION AND CONSUMER AWARENESS.--Multimedia public
354	education, awareness, and advertising efforts designed to
355	specifically address mitigation techniques shall be employed, as
356	well as a component to support ongoing consumer resources and
357	referral services.
358	(5)  ADVISORY COUNCIL.--There is created an advisory
359	council to provide advice and assistance to the program
360	administrator with regard to his or her administration of the
361	program. The advisory council shall consist of:
362	(a)  A representative of lending institutions, selected by
363	the Financial Services Commission from a list of at least three
364	persons recommended by the Florida Bankers Association.
365	(b)  A representative of residential property insurers,
366	selected by the Financial Services Commission from a list of at
367	least three persons recommended by the Florida Insurance
368	Council.
369	(c)  A representative of home builders, selected by the
370	Financial Services Commission from a list of at least three
371	persons recommended by the Florida Home Builders Association.
372	(d)  A faculty member of a state university, selected by
373	the Financial Services Commission, who is an expert in
374	hurricane-resistant construction methodologies and materials.
375	(e)  Two members of the House of Representatives, selected
376	by the Speaker of the House of Representatives.
377	(f)  Two members of the Senate, selected by the President
378	of the Senate.
379	(g)  The Chief Executive Officer of the Federal Alliance
380	for Safe Homes, Inc., or his or her designee.
381	(h)  The senior officer of the Florida Hurricane
382	Catastrophe Fund.
383	(i)  The executive director of Citizens Property Insurance
384	Corporation.
385	(j)  The director of the Division of Emergency Management
386	of the Department of Community Affairs.
387
388	Members appointed under paragraphs (a)-(d) shall serve at the
389	pleasure of the Financial Services Commission. Members appointed
390	under paragraphs (e) and (f) shall serve at the pleasure of the
391	appointing officer. All other members shall serve voting ex
392	officio. Members of the advisory council shall serve without
393	compensation but may receive reimbursement as provided in s.
394	112.061 for per diem and travel expenses incurred in the
395	performance of their official duties.
396	(6)  RULES.--The Department of Financial Services shall
397	adopt rules pursuant to ss. 120.536(1) and 120.54 governing the
398	Florida Comprehensive Hurricane Damage Mitigation Program.
399	Section 4.  Section 215.559, Florida Statutes, is amended
400	to read:
401	215.559  Hurricane Loss Mitigation Program.--
402	(1)  There is created a Hurricane Loss Mitigation Program.
403	The Legislature shall annually appropriate $10 million of the
404	moneys authorized for appropriation under s. 215.555(7)(c) from
405	the Florida Hurricane Catastrophe Fund to the Department of
406	Community Affairs for the purposes set forth in this section.
407	(2)(a)  Seven million dollars in funds provided in
408	subsection (1) shall be used for programs to improve the wind
409	resistance of residences and mobile homes, including loans,
410	subsidies, grants, demonstration projects, and direct
411	assistance; cooperative programs with local governments and the
412	Federal Government; and other efforts to prevent or reduce
413	losses or reduce the cost of rebuilding after a disaster.
414	(b)  Three million dollars in funds provided in subsection
415	(1) shall be used to retrofit existing facilities used as public
416	hurricane shelters. The department must prioritize the use of
417	these funds for projects included in the September 1, 2000,
418	version of the Shelter Retrofit Report prepared in accordance
419	with s. 252.385(3), and each annual report thereafter. The
420	department must give funding priority to projects in regional
421	planning council regions that have shelter deficits and to
422	projects that maximize use of state funds.
423	(3)  By the 2006-2007 fiscal year, the Department of
424	Community Affairs shall develop a low-interest loan program for
425	homeowners and mobile home owners to retrofit their homes with
426	fixtures or apply construction techniques that have been
427	demonstrated to reduce the amount of damage or loss due to a
428	hurricane. Funding for the program shall be used to subsidize or
429	guaranty private-sector loans for this purpose to qualified
430	homeowners by financial institutions chartered by the state or
431	Federal Government. The department may enter into contracts with
432	financial institutions for this purpose. The department shall
433	establish criteria for determining eligibility for the loans and
434	selecting recipients, standards for retrofitting homes or mobile
435	homes, limitations on loan subsidies and loan guaranties, and
436	other terms and conditions of the program, which must be
437	specified in the department's report to the Legislature on
438	January 1, 2006, required by subsection (8). For the 2005-2006
439	fiscal year, the Department of Community Affairs may use up to
440	$1 million of the funds appropriated pursuant to paragraph
441	(2)(a) to begin the low-interest loan program as a pilot project
442	in one or more counties. The Department of Financial Services,
443	the Office of Financial Regulation, the Florida Housing Finance
444	Corporation, and the Office of Tourism, Trade, and Economic
445	Development shall assist the Department of Community Affairs in
446	establishing the program and pilot project. The department may
447	use up to 2.5 percent of the funds appropriated in any given
448	fiscal year for administering the loan program. The department
449	may adopt rules to implement the program.
450	(3)(a)(4)  Forty percent of the total appropriation in
451	paragraph (2)(a) shall be used to inspect and improve tie-downs
452	for mobile homes. Within 30 days after the effective date of
453	that appropriation, the department shall contract with a public
454	higher educational institution in this state which has previous
455	experience in administering the programs set forth in this
456	subsection to serve as the administrative entity and fiscal
457	agent pursuant to s. 216.346 for the purpose of administering
458	the programs set forth in this subsection in accordance with
459	established policy and procedures. The administrative entity
460	working with the advisory council set up under subsection (6)
461	shall develop a list of mobile home parks and counties that may
462	be eligible to participate in the tie-down program.
463	(b)1.  There is created the Manufactured Housing and Mobile
464	Home Hurricane Mitigation Program. The program shall require the
465	mitigation of damage to homes for the areas of concern raised by
466	the Department of Highway Safety and Motor Vehicles in the 2004-
467	2005 Hurricane Reports on the effects of the 2004 and 2005
468	hurricanes on manufactured and mobile homes in this state. The
469	mitigation shall include, but not be limited to, problems
470	associated with weakened trusses, studs, and other structural
471	components, site-built additions, or tie-down systems and may
472	also address any other issues deemed appropriate by the
473	Department of Community Affairs upon consultation with the
474	Tallahassee Community College, the Federation of Manufactured
475	Home Owners of Florida, Inc., the Florida Manufactured Housing
476	Association, and the Department of Highway Safety and Motor
477	Vehicles. The program may include an education and outreach
478	component to ensure that owners of manufactured and mobile homes
479	are aware of the benefits of participation.
480	2.  The program shall include the offering of a matching
481	grant to owners of manufactured and mobile homes manufactured
482	after 1993 only. Homeowners accepted for the program shall be
483	eligible to qualify for a $5,000 dollar-for-dollar matching
484	grant in which the homeowner may receive up to $2,500 in state
485	moneys. The moneys appropriated for this program shall be
486	distributed directly to the Department of Community Affairs for
487	the uses set forth under this paragraph.
488	3.  Upon evidence of completion of the program, the
489	Citizens Property Insurance Corporation shall grant, on a pro
490	rata basis, actuarially reasonable discounts, credits, or other
491	rate differentials or appropriate reductions in deductibles for
492	the properties of owners of manufactured homes or mobile homes
493	on which fixtures or construction techniques that have been
494	demonstrated to reduce the amount of loss in a windstorm have
495	been installed or implemented. The discount on the premium shall
496	be applied to subsequent renewal premium amounts. Premiums of
497	the Citizens Property Insurance Corporation shall reflect the
498	location of the home and the fact that the home has been
499	installed in compliance with building codes adopted after
500	Hurricane Andrew.
501	4.  On or before January 1 of each year, the Department of
502	Community Affairs shall provide a report of activities under
503	this subsection to the Governor, the President of the Senate,
504	and the Speaker of the House of Representatives. The report
505	shall set forth the number of manufactured homes and mobile
506	homes that have taken advantage of the program, the types of
507	enhancements and improvements made to the manufactured homes or
508	mobile homes and attachments to such homes, and whether there
509	has been an increase of availability of insurance products to
510	owners of manufactured homes or mobile homes.
511	(4)(5)  Of moneys provided to the Department of Community
512	Affairs in paragraph (2)(a), 10 percent shall be allocated to a
513	Type I Center within the State University System dedicated to
514	hurricane research. The Type I Center shall develop a
515	preliminary work plan approved by the advisory council set forth
516	in subsection (6) to eliminate the state and local barriers to
517	upgrading existing mobile homes and communities, research and
518	develop a program for the recycling of existing older mobile
519	homes, and support programs of research and development relating
520	to hurricane loss reduction devices and techniques for site-
521	built residences. The State University System also shall consult
522	with the Department of Community Affairs and assist the
523	department with the report required under subsection (8).
524	(5)(6)  The Department of Community Affairs shall develop
525	the programs set forth in this section in consultation with an
526	advisory council consisting of a representative designated by
527	the Chief Financial Officer, a representative designated by the
528	Florida Home Builders Association, a representative designated
529	by the Florida Insurance Council, a representative designated by
530	the Federation of Manufactured Home Owners, a representative
531	designated by the Florida Association of Counties, and a
532	representative designated by the Florida Manufactured Housing
533	Association.
534	(6)(7)  Moneys provided to the Department of Community
535	Affairs under this section are intended to supplement other
536	funding sources of the Department of Community Affairs and may
537	not supplant other funding sources of the Department of
538	Community Affairs.
539	(7)(8)  On January 1st of each year, the Department of
540	Community Affairs shall provide a full report and accounting of
541	activities under this section and an evaluation of such
542	activities to the Speaker of the House of Representatives, the
543	President of the Senate, and the Majority and Minority Leaders
544	of the House of Representatives and the Senate.
545	(8)(9)  This section is repealed June 30, 2011.
546
547	====== D I R E C T O R Y  A M E N D M E N T =====
548	Remove lines 247-250 and insert:
549	Section 1.  Paragraph (b) of subsection (6) of section
550	215.555, Florida Statutes, is amended to read:
551
552	======= T I T L E  A M E N D M E N T =======
553	Remove lines 7-227 and insert:
554	amending s. 215.555, F.S.; revising certain revenue bond
555	emergency assessment requirements; creating s. 215.558, F.S.;
556	creating the Florida Hurricane Damage Prevention Endowment;
557	providing a purpose and legislative intent; providing
558	definitions; providing requirements and authority for investment
559	of endowment assets by the State Board of Administration;
560	requiring a report to the Legislature; providing for payment of
561	the board's investment services' costs and fees from the
562	endowment; providing requirements of the Department of Financial
563	Services in providing financial incentives for residential
564	hurricane damage prevention activities; providing for an
565	interest-free loan program; providing program criteria and
566	requirements; creating an advisory council for certain purposes;
567	providing for appointment of members; requiring members to serve
568	without compensation; providing for per diem and travel
569	expenses; creating s. 215.5586, F.S.; establishing the Florida
570	Comprehensive Hurricane Damage Mitigation Program within the
571	Department of Financial Services; providing qualifications for
572	the program administrator; providing program components and
573	requirements; providing for wind certification and hurricane
574	mitigation inspections; providing inspection requirements;
575	providing inspector eligibility requirements; providing for
576	grants; providing grant requirements; providing for loans;
577	providing public education and consumer awareness requirements;
578	creating an advisory council; providing for appointment of
579	members; specifying service without compensation; providing for
580	per diem and travel expense reimbursements; requiring the
581	department to adopt rules; creating the Manufactured Housing and
582	Mobile Home Hurricane Mitigation Program for certain purposes;
583	requiring the Department of Community Affairs to develop the
584	program in consultation with certain entities; specifying
585	requirements of the program; specifying the program as a
586	matching grant program for improvement of mobile homes and
587	manufactured homes; providing for distribution of the grants to
588	the Department of Community Affairs for certain purposes;
589	requiring Citizens Property Insurance Corporation to grant
590	certain insurance discounts, credits, rate differentials, or
591	deductible reductions for property insurance premiums for
592	certain manufactured home or mobile home owners; specifying
593	criteria for such premiums; requiring a program report each year
594	to the Governor and Legislature; providing report requirements;
595	creating the Task Force on

CODING: Words stricken are deletions; words underlined are additions.