Florida Senate - 2015                                     SB 830
       By Senator Simmons
       10-00263B-15                                           2015830__
    1                        A bill to be entitled                      
    2         An act relating to the regulation of corporation not
    3         for profit self-insurance funds; amending s. 624.4625,
    4         F.S.; revising the requirements for a participating
    5         member of a corporation not for profit self-insurance
    6         fund; providing an effective date.
    8  Be It Enacted by the Legislature of the State of Florida:
   10         Section 1. Paragraph (b) of subsection (1) of section
   11  624.4625, Florida Statutes, is amended to read:
   12         624.4625 Corporation not for profit self-insurance funds.—
   13         (1) Notwithstanding any other provision of law, any two or
   14  more corporations not for profit located in and organized under
   15  the laws of this state may form a self-insurance fund for the
   16  purpose of pooling and spreading liabilities of its group
   17  members in any one or combination of property or casualty risk,
   18  provided the corporation not for profit self-insurance fund that
   19  is created:
   20         (b) Requires for qualification that each participating
   21  member receive at least 75 percent of its revenues from local,
   22  state, or federal governmental sources or a combination of such
   23  sources or be a publicly supported organization under s.
   24  501(c)(3), which receives at least 75 percent of its support
   25  from a governmental unit or the public as evidenced on the
   26  organization’s most recent Internal Revenue Service Form 990 or
   27  Form 990-EZ and Schedule A.
   28         Section 2. This act shall take effect July 1, 2015.