Florida Senate - 2022                          SENATOR AMENDMENT
       Bill No. SB 2-A
       
       
       
       
       
       
                                Ì733204rÎ733204                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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                Floor: 17/F/2R         .                                
             12/13/2022 03:21 PM       .                                
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       Senator Book moved the following:
       
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 3039 and 3040
    4  insert:
    5         Section 26. Prior to December 31, 2023, a property insurer
    6  may not apply any rate change to an HO-3, HO-4, or HO-6 policy.
    7  During 2024, 2025, and 2026, the rate paid by a policyholder for
    8  an HO-3, HO-4, or HO-6 policy must decrease by at least 6.4
    9  percent per year compared to a similar property insurance policy
   10  from the previous year with substantially the same coverage. The
   11  6.4 percent rate savings may be provided through rate decreases,
   12  discounts, or credits toward the insurance policy issued or
   13  renewed in 2024, 2025, and 2026.
   14  
   15  ================= T I T L E  A M E N D M E N T ================
   16  And the title is amended as follows:
   17         Delete line 148
   18  and insert:
   19         appropriation; prohibiting a property insurer from
   20         applying for a rate change for specified policies for
   21         a specified timeframe; requiring a specified decrease
   22         to the rates paid by policyholders for certain
   23         policies during a specified timeframe; authorizing a
   24         property insurer to provide the decrease through rate
   25         decreases, discounts, or credits; providing effective
   26         dates.