Florida Senate - 2014 COMMITTEE AMENDMENT Bill No. CS for SB 416 Ì952730ÄÎ952730 LEGISLATIVE ACTION Senate . House Comm: RCS . 03/13/2014 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— recommended the following: 1 Senate Substitute for Amendment (146858) 2 3 Delete lines 225 - 233 4 and insert: 5 7. Once a sinkhole property damage claim has been settled, 6 or a court judgment or order for damages obtained, the property 7 owner must use the proceeds from such settlement or court 8 decision to repair and remediate the property within a 9 reasonable period of time. Property owners must provide notice 10 within 45 days after completion of the repairs. To facilitate 11 timely repairs and remediation, the corporation shall disburse 12 claim settlement proceeds and court-ordered judgments made 13 payable to the property owner, and if there is a mortgage 14 balance, to both the property owner and financial lender as co 15 payees.