CS/CS/HB 1021 Summary

• Amends section 624.1265 of Florida Statutes to revise exemptions for nonprofit religious organizations that facilitate sharing of contributions for financial, physical, or medical needs among participants.

• Requires organizations to limit participants to those sharing common ethical or religious beliefs, act as facilitators between participants, and provide contributions with no assumption of risk or promise to pay.

• Mandates monthly accounting to participants showing total dollar amounts of qualified needs shared and annual audits by independent certified public accounting firms in accordance with generally accepted accounting principles.

• Allows organizations to establish health qualifications for participation and cancel membership of participants failing to meet membership conditions for more than 60 days.

• Requires written disclaimer on all applications and materials stating the organization is not an insurance company, membership is not offered through an insurance company, and participants remain personally responsible for their own medical bills; takes effect July 1, 2018.