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Politics & Government

Fasano Recaps Legislative Session

SB 408 and community associations addressed at Land O' Lakes community meeting.

Members of the Pasco Alliance for Community Associations turned out in force June 9  to hear state Sen. Mike Fasano, New Port Richey, speak about legislation that will directly impact homeowners' associations.

Fasano specifically addressed Senate Bill 408 and other related homeowner association concerns that arose during the recently ended legislative session.

"Senate Bill 408 was signed behind closed doors by the governor,"  Fasano said, referring to the legislation that changes some of the rules for property insurance within the state.

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SB 408, is classified as a “Property and Casualty Insurance” bill by the Florida Senate. Fasano said he expressed his consumer advocacy skills in his efforts to minimize damage from what he called a bill "written by the insurance industry” without “bringing the consumers to the table.” 

The central issue involved in SB 408 is sinkholes and their related structural damages. The bill addressed many updates to definitions of terms such as what is considered a loss. Additionally, insurance rate information is covered in the bill. Rates may be raised for reinsurance up to 15 percent, and an additional 10 percent higher if the new policy would not result with profits in the state of Florida. 

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Fasano acknowledged that SB 408 is a difficult bill for the consumer, but it started out as a far more devastating set of legislation, he said. Fasano reported that the banking industry helped to lobby to keep sinkhole insurance a required type of insurance policy that insurers offer. In an earlier form of the bill, sinkhole insurance was not to be required by Florida insurance companies. 

A PACA member asked about the Legislature proposing a state agency to regulate the many varying types of homeowners associations in the state. Fasano responded that “it would be impossible”  to create an agency to regulate the policies of such varying organizations. 

The June meeting of PACA with Fasano was attended with a full Land O’Lakes Community Center meeting room of community leaders and residents. The Senator was encouraged to come again, and left with a certificate from PACA. 

Fasano is a 40-year resident of Pasco County, and will be completing his last term in the Florida Senate representing District 11 in the next legislative session.

The Pasco Alliance for Community Associations is a local organization whose mission is to assist community development districts, homeowners associations, and condo associations with strategic planning. Jim Flateau is the current President of PACA.

The Pasco Alliance for Community Associations meets on a monthly basis. Their meeting info and organizational information may be found at their website at mypaca.org. 

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