Coverage by Citizens Property Insurance Corporation
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SB 1106 — Coverage by Citizens Property Insurance Corporation
Last action — Died in Appropriations
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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2In Committee
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3Passed Senate
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4Passed House
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5To Executive
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6Enacted
This bill died with 2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Coverage by Citizens Property Insurance Corporation; Revising certain minimum replacement costs as risk amounts ineligible for coverage by Citizens Property Insurance Corporation for personal lines residential structures; providing exceptions to rate increase limitations on single policies issued by the corporation; requiring surcharges for a specified purpose for policies covering certain personal lines residential structures, etc.
Bill Text
What changed in the latest version
271 added · 265 removed271 line(s) added, 265 removed.
Florida Senate - 2024 CS for SB 1106 By Senatorthe HooperCommittee 21-01045A-24on 20241106__Banking Aand billInsurance; to be entitled An act relating to coverage by Citizens Property Insurance Corporation;
and Senator Hooper 597-02154-24 20241106c1 A bill to be entitled An act relating to coverage by Citizens Property Insurance Corporation;
deleting provisions relating to rate increase limitations on certain policies;
deleting the definition of the term “primary residence”;
The absence of affordable property insurance threatens the public health, safety, and welfare and likewise threatens the economic Page 1 of 910 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 absence of affordable property insurance threatens the public health, safety, and welfare and likewise threatens the economic health of the state.
Because it is essential for this government entity to have the maximum financial resources to pay claims following a catastrophic hurricane, it is the intent of the Legislature that the corporation continue to be an integral part of the state and that the income of the corporation be exempt from federal income taxation and that interest on the debt obligations issued by the Page 2 of 910 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 that the income of the corporation be exempt from federal income taxation and that interest on the debt obligations issued by the corporation be exempt from federal income taxation.
effective July 1, 2024 January 1, 2014, a structure that has a dwelling replacement cost of $1 million or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $1 million or more, is not eligible Pagefor 3coverage ofby 9the CODING:corporation.
Such dwellings insured by the corporation on December 31, 2013, may continue to be covered by Page 3 of 10 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 forthe coveragecorporation byuntil the corporation.end of the policy term.
Such dwellings insured by the corporation on December 31, 2013, may continue to be covered by the corporation until the end of the policy term.
Such dwellings insured by the Pagecorporation 4on December 31, 2016, may continue to be covered by the corporation until the end of 9the CODING:policy term.
Page 4 of 10 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 corporationThe onrequirements December 31, 2016, may continue to be covered by the corporation until the end of thesub-subparagraphs policyb.-d. term.
The requirements of sub-subparagraphs b.-d.
A residential structure is deemed to comply with this sub-subparagraph if it has shutters or opening protections on all openings and if such opening protections Pagecomplied 5with ofthe 9Florida CODING:Building Code at the time they were installed.
Page 5 of 10 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 compliedb. with the Florida Building Code at the time they were installed.
b.
The office shall consider the recommendations of the board and issue a final order establishing the rates for the Pagecorporation 6within of45 9days CODING:after the recommended rates are filed.
The corporation may not pursue an administrative Page 6 of 10 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 corporationchallenge withinor 45judicial daysreview afterof the recommendedfinal ratesorder areof filed.the office.
The corporation may not pursue an administrative challenge or judicial review of the final order of the office.
Paged. 7 of 9 CODING:
Fifteen percent for 2026 and all subsequent years.
Page 7 of 10 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 d.Beginning with the implementation of the corporation’s next annual rate change on or after August 1, 2024, this subparagraph does not apply to a personal lines residential structure that has a dwelling replacement cost of $700,000 or more or a single condominium unit that has a combined dwelling and contents replacement cost of $700,000 or more.
Fifteen percent for 2026 and all subsequent years.
This subparagraph does not apply to a personal lines residential structure that has a dwelling replacement cost of $700,000 or more or a single condominium unit that has a combined dwelling and contents replacement cost of $700,000 or more.
The corporation’s implementation of rates as prescribed in subparagraph subparagraphs 5.
and 8.9.
8.
Effective Julyupon implementation of the corporation’s next annual rate change on or after August 1, 2024, for the purpose of ensuring that the corporation’s rates are not competitive with approved rates charged in the admitted voluntary market as required by subparagraph 1., a surcharge equal to the lesser of $2,500 or 25 percent of the corporation’suncapped ratepremium forcalculated eachusing policythe corporation’s approved rates applies to each personal lines residential structurespolicy insuring a structure that havehas a dwelling replacement cost of $700,000 or more and to each policy insuring a single condominium unitsunit that havehas a combined dwelling and contents replacement cost of $700,000 or more.
Notwithstanding this subsection, effective JulyAugust 1, 2024, a personal lines residential structure that has a dwelling replacement cost of $700,000 or more and a single condominium unit that has a combined dwelling and Page 8 of 910 CODING:
Florida Senate - 2024 CS for SB 1106 21-01045A-24597-02154-24 20241106__20241106c1 residential structure that has a dwelling replacement cost of $700,000 or more and a single condominium unit that has a combined dwelling and contents replacement cost of $700,000 or more are not eligible for coverage by the corporation if the risk is offered comparable coverage from an authorized insurer at the insurer’s approved rate under a standard policy including wind coverage.
8.9.8.
9.10.9.
SectionPage 2.9 of 10 CODING:
ThisWords actstricken shallare takedeletions; effect July 1, 2024.
Show all 44 changed lines (4 more)
Pagewords 9underlined ofare 9additions. CODING:
Florida Senate - 2024 CS for SB 1106 597-02154-24 20241106c1 Section 2.
This act shall take effect August 1, 2024.
Page 10 of 10 CODING:
Show all 44 changed rows (4 more)
View plain text versions (2)
- S 1106 c1 View text Current pdf
- Introduced S 1106 Filed pdf
AI-generated reading aid from the bill's amendatory text — verify against the official bill.
The bill amends existing law to change the eligibility criteria for coverage by Citizens Property Insurance Corporation based on dwelling replacement costs and includes new provisions related to policy surcharges and exceptions for certain structures.
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627.351
effective July 1, 2024 January 1, 2014, a structure that has a dwelling replacement cost of $1 million or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $1 million or more, is not eligible for coverage by the corporation.→ effective July 1, 2024, a structure that has a dwelling replacement cost of $1 million or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $1 million or more, is not eligible for coverage by the corporation.Updates the effective date for the ineligibility of certain high-value structures from January 1, 2014, to July 1, 2024.
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627.351
Effective January 1, 2015, a structure that has a dwelling replacement cost of $900,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $900,000 or more, is not eligible for coverage by the corporation.→ Effective January 1, 2015, a structure that has a dwelling replacement cost of $900,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $900,000 or more, is not eligible for coverage by the corporation.No change; maintains the existing ineligibility threshold at $900,000 for 2015.
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627.351
Effective January 1, 2016, a structure that has a dwelling replacement cost of $800,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $800,000 or more, is not eligible for coverage by the corporation.→ Effective January 1, 2016, a structure that has a dwelling replacement cost of $800,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $800,000 or more, is not eligible for coverage by the corporation.No change; maintains the existing ineligibility threshold at $800,000 for 2016.
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627.351
Effective January 1, 2017, a structure that has a dwelling replacement cost of $700,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $700,000 or more, is not eligible for coverage by the corporation.→ Effective January 1, 2017, a structure that has a dwelling replacement cost of $700,000 or more, or a single condominium unit that has a combined dwelling and contents replacement cost of $700,000 or more, is not eligible for coverage by the corporation.No change; maintains the existing ineligibility threshold at $700,000 for 2017.
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627.351
The requirements of sub-subparagraphs b.-d. do not apply in counties where the office determines there is not a reasonable degree of competition.→ The requirements of sub-subparagraphs b.-d. do not apply in counties where the office determines there is not a reasonable degree of competition.No change; retains existing provisions for applying thresholds based on competition in the insurance market.
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627.351
In such counties a personal lines residential structure that has a dwelling replacement cost of less than $1 million, or a single condominium unit that has a combined dwelling and contents replacement cost of less than $1 million, is eligible for coverage by the corporation.→ In such counties a personal lines residential structure that has a dwelling replacement cost of less than $1 million, or a single condominium unit that has a combined dwelling and contents replacement cost of less than $1 million, is eligible for coverage by the corporation.No change; allows coverage for lower-value structures in counties with insufficient competition.
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627.351
providing exceptions to rate increase limitations on single policies issued by the corporation;
Introduces exceptions to existing rate increase limitations for certain policies.
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627.351
requiring surcharges for a specified purpose for policies covering certain personal lines residential structures;
Requires the imposition of surcharges on specific policies to enhance funding.
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627.351
prohibiting coverage for certain dwelling structures and single condominium units under certain circumstances;
Establishes new prohibitions on coverage for specified dwelling structures and condos under particular conditions.
Action History
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Died in Appropriations
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Now in Appropriations
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Favorable by Appropriations Committee on Agriculture, Environment, and General Government; YEAS 10 NAYS 0
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On Committee agenda-- Appropriations Committee on Agriculture, Environment, and General Government, 02/13/24, 8:30 am, 110 Senate Building
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CS by Banking and Insurance read 1st time
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Now in Appropriations Committee on Agriculture, Environment, and General Government
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Pending reference review under Rule 4.7(2) - (Committee Substitute)
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CS by Banking and Insurance; YEAS 10 NAYS 0
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On Committee agenda-- Banking and Insurance, 01/16/24, 11:00 am, 412 Knott Building
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Introduced
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Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Appropriations
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Filed
Sponsors
- Banking and Insurance · Primary
- Ed Hooper · Primary
Sponsorship breakdown
Export CSV (upgrade) →2 sponsors · 0 co-sponsors · 162 not signed on
Sponsors (2)
- Banking and Insurance
- Hooper, Ed Republican
Co-sponsors (0)
None.
Not signed on (162)
162 members have not signed on to this bill.
Show all 162 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Republican | 7 | 0 | 0 | 0 |
| Democrat | 3 | 0 | 0 | 0 |
| Total | 10 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (10)
| Member | Party | Vote |
|---|---|---|
| Berman, Lori | Democrat | Yea |
| Osgood, Rosalind | Democrat | Yea |
| Polsky, Tina Scott | Democrat | Yea |
| Boyd, Jim | Republican | Yea |
| Brodeur, Jason | Republican | Yea |
| Garcia, Ileana | Republican | Yea |
| Grall, Erin | Republican | Yea |
| Mayfield, Debbie | Republican | Yea |
| Rodriguez, Ana Maria | Republican | Yea |
| Trumbull, Jay | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 5 | 0 | 0 | 1 |
| Republican | 5 | 0 | 0 | 0 |
| Total | 10 | 0 | 0 | 1 |
| % of votes cast | 91% | 0% | 0% | 9% |
How each member voted (11)
| Member | Party | Vote |
|---|---|---|
| Broxson | — | Yea |
| Hutson | — | Yea |
| Ingoglia | — | Yea |
| Powell | — | Yea |
| Torres | — | Not Voting |
| Thompson, Geraldine F. "Geri" | — | Yea |
| Boyd, Jim | Republican | Yea |
| Burton, Colleen | Republican | Yea |
| DiCeglie, Nick | Republican | Yea |
| Mayfield, Debbie | Republican | Yea |
| Trumbull, Jay | Republican | Yea |
Subjects
Frequently asked questions
- What does SB 1106 do?
- Coverage by Citizens Property Insurance Corporation; Revising certain minimum replacement costs as risk amounts ineligible for coverage by Citizens Property Insurance Corporation for personal lines residential structures; providing exceptions to rate increase limitations on single policies issued by the corporation; requiring surcharges for a specified purpose for policies covering certain personal lines residential structures, etc.
- Who sponsors SB 1106?
- SB 1106 is sponsored by Banking and Insurance and Hooper, Ed (Republican).
- What is the current status of SB 1106?
- This bill died with 2024 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track SB 1106?
- Track SB 1106 free on One Click Politics — get push/email alerts when it moves.
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