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2014 Legislative Preview
Florida's Budget
Lawmakers may again consider prohibiting Citizens Property Insurance Corp. from providing insurance to the 180,000 out-of-state homeowners it presently insures. Tom Feeney, CEO and president of Associated Industries of Florida, and others have argued that non-Floridians should not be allowed to purchase subsidized insurance coverage from the state’s insurer of last resort. Senate Banking and Insurance Committee Chairman David Simmons (R-Altamonte Springs) has indicated he may address the issue in a broader Citizens package, which would also look at eliminating wind-only policies and reducing the insurer’s exposure in commercial/residential properties, which are primarily buildings owned by condominium associations.
CAT Fund
Sen. Alan Hays (R-Umatilla) has filed a bill that would shrink the Florida Hurricane Catastrophe fund’s coverage from $17 billion to $14 billion by 2017. Sen. Jeremy Ring (D-Margate) has offered a competing bill that would keep the CAT fund, which provides insurance to companies operating in Florida, at $17 billion and lower its deductible from $7.5 billion to $5 billion.
Premium Tax Credit
Associated Industries of Florida and the Florida Insurance Council will continue to fight legislative efforts to eliminate a 28-year-old premium tax credit that allows insurance companies to reduce their tax by up to 15% of the salaries paid to employees located in the state. Lawmakers attempted to repeal the tax credit last year to pay for a reduction in motor vehicle fees but were unsuccessful. While a repeal of the tax credit would pump $230 million annually into state coffers, the insurance industry has argued that the tax credit has attracted insurance companies to the state and stimulated job growth in the industry. Florida TaxWatch has said that repealing the tax credit would be “unwise” and should not be considered “without fully evaluating the potential effects on both existing insurers and the growth of the industry.”
Medical Marijuana
An amendment legalizing medical marijuana is headed for the ballot this fall, and lawmakers will consider legislation that would legalize the medical use of certain strains of marijuana that contain a high level of the chemical compound that reduces pain but is low in the chemical which creates marijuana’s “high.”
Sports
The Miami Dolphins football team is expected to make another push for funds to help renovate Sun Life Stadium, using sales tax rebates on items sold at the stadium and a share of local hotel taxes. Dolphins’ owner Stephen Ross says the stadium will be unlikely to attract future Super Bowls without significant upgrades. Daytona International Speedway, meanwhile, is seeking $60 million in sales tax rebates over 30 years to help offset its $400-million renovation project known as “Daytona Rising.” The legislation, which is being sponsored by Rep. Dorothy Hukill (R-Port Orange), would put the speedway on even footing with other Florida sports franchises such as the NBA’s Orlando Magic and the NFL’s Tampa Bay Buccaneers and the Jacksonville Jaguars, which also receive sales tax breaks in exchange for stadium construction.
In addition, retired soccer star David Beckham and a group of investors are seeking state funding via a sales tax subsidy to help build a soccer stadium for a new Major League Soccer franchise in Miami. Backers of Orlando City Soccer, Major League Soccer’s newest expansion team, will likely seek a sales tax rebate for their downtown stadium project.
Beer
Florida’s growing craft beer industry is seeking a change in state alcohol laws that would permit brewers to sell 64-ounce containers of beer called growlers. The craft brewers would also like to be able to offer samplings of their products at retail establishments in the same way wine and liquor samplings are allowed [“Coming to a Head,” January].
Veterans
Senate President Gaetz and House Speaker Weatherford are pushing for out-of-state tuition waivers for veterans; scholarship funding for members of the Florida National Guard; and a waiver of licensing fees for returning veterans.
Private College Funding
The Independent Colleges & Universities of Florida (ICUF) is lobbying the Legislature to restore funding of the Florida Resident Access grant (FRAG), state financial aid available to Florida residents to attend private schools, to $3,000 per student for all eligible students. Current funding for the grant is at $2,500 per student, except at Keiser University, where students receive $2,071. ICUF is seeking the same funding level for students at all institutions.
