Seminole Republican Larry Ahern is looking to help flood insurance policyholders with a plan to reduce insurance premiums.
On Thursday, Ahern filed HB 613, which instructs the Division of Emergency Management to set up a matching grant program for up to $50,000,000 annually to local governments for technical and financial assistance in implementing policies to reduce risks of flood hazards. The bill also requires the DEM to develop a ranking system for applications, with specific criteria for prioritizing those applications.
The measure also authorizes the Florida Communities Trust to “acquire and dispose of both real and personal property” necessary to reduce flood hazards.
“Continuing to find ways to reduce flood insurance premiums at the statewide level for residents of Florida is imperative,” Ahern said.
St. Petersburg Republican Jeff Brandes has already filed the Senate companion bill (SB 112)
If passed, the bill could be effective July 1, 2017.