The Florida Senate moved forward on several pieces of legislation designed to reduce the cost of homeowners’ insurance premiums for families across Florida. House Bill (HB) 7073 reduces property insurance premiums by more than $500 million statewide, eliminating certain taxes and fees homeowner’s pay on their property insurance and flood insurance.
The legislation was sponsored in the Senate by Spring Hill Republican Senator Blaise Ingoglia. Senate Bill 7028 by Bradenton Republican Senator Jim Boyd includes $200 million for improvement grants Florida families can utilize to reduce insurance premiums by fortifying their homes, with priority for low-income families and seniors. HB 1029, sponsored in the Senate by Indian Rocks Beach Republican Senator Nick DiCeglie, creates a pilot program for condominium associations to apply for mitigation grants.
