FL S0850

Allows for-profit or not-for-profit corporations, limited liability companies, and similar business entities in which a public housing authority holds an ownership interest or participates in governance to join self-insurance funds formed by public housing authorities, limited to insuring risks related to public housing.

Permits reinsurance companies to issue coverage directly to public housing authorities or entities organized by them if such authorities or entities self-insure their liabilities.

Requires reinsurance contracts issued to public housing authorities or their organized entities that are self-insuring to receive the same tax treatment as reinsurance contracts issued to insurance companies.

Specifies that public housing authorities and their organized entities purchasing reinsurance are considered insurers solely for the purpose of entering into reinsurance contracts, but this does not authorize them to otherwise act as insurers.

Takes effect July 1, 2017.