| 1 | A bill to be entitled |
| 2 | An act relating to sinkhole loss prevention ordinances; |
| 3 | creating s. 627.7063, F.S.; providing a definition; |
| 4 | requiring the Financial Services Commission to adopt by |
| 5 | rule a building code effectiveness grading schedule for |
| 6 | sinkhole loss prevention ordinance evaluation purposes; |
| 7 | requiring insurance discounts and surcharges based on the |
| 8 | grade assigned to a sinkhole loss prevention ordinance; |
| 9 | providing an effective date. |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
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| 13 | Section 1. Section 627.7063, Florida Statutes, is created |
| 14 | to read: |
| 15 | 627.7063 Building code effectiveness grading schedule.-- |
| 16 | (1) As used in this section, the term "sinkhole loss |
| 17 | prevention ordinance" means a county ordinance that amends the |
| 18 | Florida Building Code and is intended to reduce the number of |
| 19 | sinkhole claims and the severity of sinkhole losses. |
| 20 | (2) The Financial Services Commission shall adopt a |
| 21 | building code effectiveness grading schedule by rule. The |
| 22 | grading schedule shall evaluate the effectiveness of each |
| 23 | sinkhole loss prevention ordinance in reducing the number of |
| 24 | sinkhole claims and severity of sinkhole losses. Each ordinance |
| 25 | shall be evaluated 4 years after the ordinance takes effect. The |
| 26 | grading schedule shall be based on the effectiveness of code |
| 27 | enforcement in each county and scientific, modeling, and |
| 28 | engineering methodologies. The rules shall also mandate |
| 29 | insurance premium discounts or surcharges on personal |
| 30 | residential property insurance based on a property's compliance |
| 31 | with an ordinance and the grade assigned to the applicable |
| 32 | sinkhole loss prevention ordinance. |
| 33 | Section 2. This act shall take effect January 1, 2010. |