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Senator Justice moved the following amendment to amendment

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(231502):

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     Senate Amendment (with directory and title amendments)

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     Between line(s) 122 and 123,

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insert:

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     (8) NO-INTEREST LOANS.--The department shall implement may

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develop a no-interest loan program by October 1, 2008, contingent

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upon the selection of a qualified vendor and execution of a

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contract acceptable to the department and the vendor. The

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department shall enter into partnerships with December 31, 2007,

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to encourage the private sector to provide loans to owners of

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site-built, single-family, residential property to pay for

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mitigation measures listed in subsection (2). A loan eligible for

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interest payments pursuant to this subsection may be for a term

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of up to 3 years and cover up to $5,000 in mitigation measures.

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The department shall pay the creditor the market rate of interest

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using funds appropriated for the My Safe Florida Home Program. In

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no case shall the department pay more than the interest rate set

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by s. 687.03. To be eligible for a loan, a loan applicant must

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first obtain a home inspection and report that specifies what

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improvements are needed to reduce the property's vulnerability to

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windstorm damage pursuant to this section and meet loan

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underwriting requirements set by the lender. The department shall

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may set aside up to $10 million from funds appropriated for the

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My Safe Florida Home Program to implement this subsection. The

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department may shall adopt rules pursuant to ss. 120.536(1) and

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120.54 to implement this subsection which may include eligibility

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criteria.

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====== D I R E C T O R Y  C L A U S E  A M E N D M E N T =====

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And the directory clause is amended as follows:

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     Delete line(s) 7

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and insert:

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subsection (2), and subsections (8) and (10) of section 215.5586,

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Florida

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================ T I T L E  A M E N D M E N T ================

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And the title is amended as follows:

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     On line(s) 181, after the semicolon,

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insert:

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requiring the department to implement a no-interest loan

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program by a certain date; providing program requirements;

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requiring the department to set aside certain moneys for

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certain purposes; authorizing the department to adopt

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rules;

4/30/2008  8:19:00 AM     16-09147-08