FL H0053

State Board of Administration shall annually transfer investment income from the Florida Hurricane Catastrophe Fund to the Florida Catastrophic Storm Risk Management Center beginning with fiscal year 2015-2016.

Transfer amount equals the lesser of $1 million or 35 percent of the fund's investment income minus $10 million, calculated using the most recent fiscal year-end audited financial statements.

Transferred funds must be used solely for the center's statutory purposes as specified in section 1004.647.

Transfer does not limit or reduce any other funding otherwise available to the center.

Effective date: July 1, 2015.