Bill Text: FL H0457 | 2010 | Regular Session | Introduced

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Bill Title: Low-income and Moderate-income Homeowners

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2010-04-30 - Died in Committee on Military & Local Affairs Policy (EDCA) [H0457 Detail]

Download: Florida-2010-H0457-Introduced.html

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HB 457

1	A bill to be entitled
2	An act relating to low-income and moderate-income
3	homeowners; providing for counties to establish a fund for
4	providing no-interest loans to assist low-income and
5	moderate-income homeowners in paying homeowners' insurance
6	premiums; authorizing the governing authority of a county
7	to levy surtaxes on building-related permits to finance
8	the assistance fund; limiting the amount a family may
9	receive from the fund in any year; requiring that a loan
10	be repaid if the homestead is sold or refinanced;
11	requiring that any proceeds from refinancing or selling a
12	homestead be deposited back into the fund; defining the
13	terms "low-income family" and "moderate-income family";
14	providing requirements for the ordinance levying the
15	surtax and creating the fund; specifying the amount of the
16	surtaxes; providing limitations on the use of the fund;
17	providing for the program to be adopted initially by the
18	governing authority of certain constitutional charter
19	counties and for later adoption in the remaining counties
20	of the state; providing effective dates.
21
22	Be It Enacted by the Legislature of the State of Florida:
23
24	Section 1. Low-Income and Moderate-Income Homeowners'
25	Insurance Premium Assistance Pilot Program.-
26	(1) The governing authority of each county may levy a
27	discretionary surtax on building-related permits for the purpose
28	of establishing and financing a Low and Moderate Income
29	Insurance Assistance Fund. This fund shall be used to make no-
30	interest loans to assist low-income and moderate-income families
31	who own homestead property in paying their homeowners' insurance
32	premiums. These loans shall be made on a first-come, first-to-
33	qualify basis. Seventy-five percent of the revenue in the fund
34	in each county shall be used to provide loan assistance to low-
35	income families and 25 percent of the revenue in the fund shall
36	be used to provide loan assistance to moderate-income families.
37	The maximum amount of any loan that a low-income family or
38	moderate-income family may receive from the fund is $2,000 per
39	year, and a check from the fund must be made payable to the
40	homeowner's insurance company. When a homeowner who has received
41	a loan from the fund sells or refinances his or her homestead
42	property, that loan must be repaid from the proceeds of the sale
43	or refinancing. Repayment of a loan made from the fund may be
44	collected by the method provided for in ss. 197.3632 and
45	197.3635, Florida Statutes, for non-ad valorem assessments, and
46	may also be collected by any alternative method that is
47	authorized by law. Any proceeds of repayment must be deposited
48	into the Low and Moderate Income Insurance Assistance Fund. As
49	used in this section, "low-income family" means a family whose
50	income does not exceed 80 percent of the median income for the
51	area and "moderate-income family" means a family whose income is
52	in excess of 80 percent but less than 140 percent of the median
53	income for the area.
54	(2) The levy of the discretionary surtax and the creation
55	of a Low and Moderate Income Insurance Assistance Fund shall be
56	by an ordinance that sets forth the policies and procedures of
57	the assistance program. The discretionary surtax must be levied
58	as set forth in subsection (3). The ordinance shall be proposed
59	at a regular meeting of the governing authority at least 2 weeks
60	prior to formal adoption. Formal adoption is not effective
61	unless approved on final vote by a majority of the total
62	membership of the governing authority. The ordinance may not
63	take effect until 90 days after formal adoption.
64	(3) The county shall levy the discretionary surtax as
65	follows:
66	(a) One dollar per permit for building-related permits
67	that are less than $11.
68	(b) Two dollars per permit for building-related permits
69	that are $11 to $99.99.
70	(c) Five dollars per permit for building-related permits
71	that are $100 to $499.99.
72	(d) Twenty-five dollars per permit for building-related
73	permits that are $500 to $999.99.
74	(e) Fifty dollars per permit for building-related permits
75	that are $1,000 or more.
76	(4) The county shall deposit 90 percent of the revenues
77	from the discretionary surtax in the Low and Moderate Income
78	Insurance Assistance Fund of the county. Ten percent of the
79	revenues may be used for administrative costs. Any interest
80	earned from the fund must remain in the fund. The county shall
81	use the revenues in the fund only to offer low-income and
82	moderate-income families financial assistance with their
83	homeowners' insurance premium payments on their homestead
84	property, to pay necessary costs of collection and enforcement
85	of the surtax, and to fund any local matching contributions
86	required pursuant to federal law for the Low-Income and
87	Moderate-Income Homeowners' Insurance Premium Assistance Pilot
88	Program. The proceeds of the surtax may not be used for rent
89	subsidies or grants.
90	Section 2. Effective July 1, 2010, the Low-Income and
91	Moderate-Income Homeowners' Insurance Premium Assistance Pilot
92	Program may be adopted only by the governing authority of a
93	county as defined in s. 125.011(1), Florida Statutes. Effective
94	July 1, 2011, the Low-Income and Moderate-Income Homeowners'
95	Insurance Premium Assistance Pilot Program may be adopted by the
96	governing authorities of the remaining counties in the state.
97	Section 3. Except as otherwise expressly provided in this
98	act, this act shall take effect July 1, 2010.

CODING: Words stricken are deletions; words underlined are additions.