Florida 2024 Regular Session

Florida House Bill H1055 Compare Versions

Only one version of the bill is available at this time.

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10	10	F L O R I D A H O U S E O F R E P RE S E N T A T I V E S
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14	14	A bill to be entitled 1
15	15	An act relating to property insurance rebate program 2
16	16	for low-income seniors; creating the program within 3
17	17	the Department of Financial Services for a certain 4
18	18	purpose; providing eligibility requirements to a 5
19	19	rebate under the program; authorizing eligible persons 6
20	20	to apply to the program if certain documentation and 7
21	21	proof are provided; specifying the calculation of the 8
22	22	rebate and procedures for disbursing funds; 9
23	23	authorizing the department to adopt rules; providing 10
24	24	an appropriation; providing an effective date. 11
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26	26	Be It Enacted by the Legislature of the State of Florida: 13
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28	28	Section 1. Insurance Rebate Program for Low -Income 15
29	29	Seniors.— 16
30	30	(1) The Insurance Rebate Program for Low-Income Seniors is 17
31	31	created within the Department of Financial Services to provide 18
32	32	low-income seniors relief on the rising costs of property 19
33	33	insurance paid in this state. 20
34	34	(2) To be eligible for a rebate, a person must meet all of 21
35	35	the following requirements: 22
36	36	(a) Be a Florida resident. 23
37	37	(b) Be 65 years of age or older. 24
38	38	(c) Have an income equal to or less than 200 percent of 25
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47	47	F L O R I D A H O U S E O F R E P RE S E N T A T I V E S
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51	51	the federal poverty level. 26
52	52	(3) An eligible person may apply to the program, on a form 27
53	53	approved by the department, no later than June 30 of the year 28
54	54	after the eligible person paid property insurance, or, if the 29
55	55	eligible person resides in a condominium, after the eligible 30
56	56	person made the proportionate share of property insurance for at 31
57	57	least 12 months, for his or her p rimary residence. The eligible 32
58	58	person must provide: 33
59	59	(a) Documentation verifying: 34
60	60	1. The payment of property insurance; or 35
61	61	2. If he or she resides in a condominium, his or her 36
62	62	proportionate share of property insurance for the 12 months 37
63	63	immediately preceding the date of the application; and 38
64	64	(b) Proof of his or her primary residence. 39
65	65	(4) Within 30 days after receiving a completed application 40
66	66	and verifying the information required under subsection (3), the 41
67	67	department shall issue a check or remit funds using direct 42
68	68	deposit to the eligible person or household in an amount equal 43
69	69	to: 44
70	70	(a) Ten percent of the amount the eligible person paid in 45
71	71	property insurance; or 46
72	72	(b) If the eligible person resides in a condominium, 10 47
73	73	percent of the proportionate share of property insurance he or 48
74	74	she paid for the 12 months immediately preceding the date of the 49
75	75	application. 50
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84	84	F L O R I D A H O U S E O F R E P RE S E N T A T I V E S
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88	88	(5) The department may adopt rules necessary to administer 51
89	89	the Insurance Rebate Program for Low -Income Seniors. 52
90	90	(6) For the 2024-2025 fiscal year, the Insurance Rebate 53
91	91	Program for Low-Income Seniors shall be funded, subject to 54
92	92	appropriation, from unallocated general revenue. 55
93	93	Section 2. This act shall take effect July 1, 2024. 56