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FL H5013
Bill
Status
Passed
7/3/2025
Primary Sponsor
House Budget Committee
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AI Summary
- Maximum cumulative transfers from the General Revenue Fund to the State Board of Administration for the Reinsurance to Assist Policyholders (RAP) program reduced from $2 billion to $900 million
- Repeals section 215.5552, Florida Statutes, eliminating the Florida Optional Reinsurance Assistance (FORA) program entirely
- RAP program continues to require the State Board of Administration to notify the Executive Office of the Governor within 60 days of a covered hurricane event if funds are needed to reimburse participating insurers
- Executive Office of the Governor must provide written notification to the chair and vice chair of the Legislative Budget Commission at least 3 days before issuing any warrant for RAP fund transfers
- Takes effect immediately upon becoming law
Legislative Description
State-funded Property Reinsurance Programs
Last Action
Chapter No. 2025-206, companion bills passed, see SB 2500 (Ch. 2025-198)
7/3/2025
Full Bill Text
No bill text available