FL H0715

Deletes a provision prohibiting certain improvements to major structures from being eligible for Citizens Property Insurance Corporation coverage, and revises restrictions on coverage for major structures that have undergone specified changes after July 1, 2015.

Establishes tiered dwelling replacement cost thresholds for personal lines residential structures, phasing in over four years: $1 million (effective January 1, 2014), $900,000 (2015), $800,000 (2016), and $700,000 (2017).

Exempts personal lines residential structures that do not meet replacement cost thresholds in counties where the office determines there is not a reasonable degree of competition; maintains $1 million threshold in such counties.

Makes major structures seaward of the coastal construction control line or within the Coastal Barrier Resources System ineligible for coverage if permit is applied for on or after July 1, 2015, for new construction or substantial improvement increasing square footage by more than 25 percent.

Deems commercial residential condominiums ineligible for coverage if 50 percent or more of units are rented more than eight times in a calendar year for rental periods of less than 30 days; becomes effective July 1, 2014.