Bill > S1274

This bill, concerning the Citizens Property Insurance Corporation, which is a government entity providing property insurance in Florida when private insurers are unable or unwilling to, postpones the date that certain major structures become ineligible for coverage by the corporation, specifically changing the permit application date for new construction or substantial improvements to July 1, 2015, from July 1, 2014, and clarifies the definition of substantial improvement. Additionally, it introduces a new provision stating that effective July 1, 2014, a condominium association will be ineligible for commercial residential wind-only coverage if 50 percent or more of its units are rented for short-term periods (less than 30 days) more than eight times in a calendar year.