Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. CS for CS for SB 1816
       
       
       
       
       
       
                                Barcode 507576                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/26/2011           .                                
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       The Committee on Budget (Richter) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 142 and 143
    4  insert:
    5         (6) The Legislature may, at its discretion, review any
    6  cooperative reciprocal agreement entered into by the Chief
    7  Financial Officer and the office with another state or group of
    8  states. If the Legislature determines that the cooperative
    9  reciprocal agreement is not in the best interest of the state,
   10  the Legislature shall instruct the Chief Financial Officer and
   11  the office to withdraw from the cooperative reciprocal
   12  agreement, pursuant to any notice provisions required by any
   13  such agreement.
   14         (7) Following the negotiation and execution of any
   15  cooperative reciprocal agreement entered into by the Department
   16  of Financial Services and the Office of Insurance Regulation
   17  with another state or group of states, the department shall
   18  prepare and submit a report to the President of the Senate and
   19  the Speaker of the House of Representatives by January 1, 2012.
   20  In addition to describing in detail the terms of any agreement
   21  entered into with another state or group of states pursuant to
   22  this section, the report must include, but need not be limited
   23  to:
   24         (a) The actual and projected collections and allocation of
   25  nonadmitted insurance premium taxes for multistate risk of each
   26  state participating in the agreement;
   27         (b) A detailed description of the administrative structure
   28  supporting any agreement, including any clearinghouse created by
   29  an agreement and the fees charged to support administration of
   30  the agreement;
   31         (c) The insurance tax rates of any state participating in
   32  the agreement; and
   33         (d) The status of any other cooperative reciprocal
   34  agreements established throughout the country, including a
   35  state-by-state listing of passed or pending legislation
   36  responding to changes made by the federal Nonadmitted and
   37  Reinsurance Reform Act of 2010.
   38  
   39  ================= T I T L E  A M E N D M E N T ================
   40         And the title is amended as follows:
   41         Delete line 24
   42  and insert:
   43         application; providing for legislative review of any
   44         cooperative reciprocal agreement entered into by the
   45         Chief Financial Officer and the office with another
   46         state or group of states; authorizing the Legislature
   47         to instruct the Chief Financial Officer and the office
   48         to withdraw from the cooperative reciprocal agreement
   49         if it determines that the agreement is not in the best
   50         interest of the state; providing for notice; requiring
   51         that the department submit a report to the
   52         Legislature; amending s. 626.938, F.S.; requiring