FL H0425

Redesignates the Florida Motor Vehicle Theft Prevention Authority as the Florida Motor Vehicle and Cargo Theft Prevention Authority, expanding its scope to address cargo theft in addition to vehicle theft.

Restructures the authority's board from nine to 10 members, with specific representation including the Attorney General, sheriffs, insurance representatives, transportation officials, and the Florida Auto Dismantlers and Recyclers Association president.

Establishes a semiannual fee of 50 cents per insured vehicle on all motor vehicle liability insurance policies and self-insured private entities, with payments due January 31 and July 31 each year into the Motor Vehicle and Cargo Theft Prevention Authority Trust Fund.

Caps administrative costs of the authority at 10 percent of annual trust fund revenues (excluding fines) and sets the executive director's initial annual compensation at no more than $75,000.

Creates penalties for insurers failing to pay the required fee, including potential suspension of certificate of authority and civil penalties up to 120 percent of the amount due.