CS for CS for SB 992 Summary

• Creates an Internet-based transmission system for the Department of Financial Services to accept service of process on insurers and other entities as an alternative to mail or personal service.

• Removes the Executive Office of the Governor's review and approval requirement for alternative retirement income security programs and allows the Chief Financial Officer to include employees of state universities, special districts, and water management districts in deferred compensation plans.

• Increases the audit threshold for state financial assistance from $500,000 to $750,000 and exempts higher education entities from certain audit requirements while establishing specific contract requirements for state-funded agreements with higher education institutions.

• Authorizes the Department of Financial Services to grant exemptions from disqualification for licensure or certification by the Division of State Fire Marshal for individuals with criminal records or dishonorable discharges if 5 years have elapsed and they pose no risk.

• Creates the Firefighter Assistance Grant Program to provide annual grants to volunteer and combination fire departments for training and equipment; revises firefighter certification requirements and renewal periods; and appropriates $500,000 for fiscal year 2016-2017 to implement the act.