2014 -- H 7722

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LC004734

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2014

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H O U S E   R E S O L U T I O N

CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY THE FEASIBILITY OF

CREATING A STATE REINSURANCE AGENCY TO PROVIDE HOMEOWNERS RELIEF

FROM THE CURRENT FEDERAL FLOOD INSURANCE PROGRAM

     

     Introduced By: Representatives Marshall, O'Brien, Winfield, Costantino, and Craven

     Date Introduced: February 27, 2014

     Referred To: House Corporations

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     WHEREAS, Many Rhode Island property owners on the coast or in other flood-plain

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areas are concerned about not being able to afford dramatically higher premiums on their

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insurance rates; now, therefore be it

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     RESOLVED, That a special legislative commission be and the same is hereby created

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consisting of seven (7) members: three (3) of whom shall be members of the Rhode Island House

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of Representatives, not more than two (2) from the same political party, to be appointed by the

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Speaker of the House; one of whom shall be the Director of the Rhode Island Department of

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Business Regulations, or designee; one of whom shall be the Director of the Rhode Island

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Emergency Management Agency (RIEMA), or designee; one of whom shall be the President of

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the Rhode Island Joint Reinsurance Association (RIJRA), or designee; and one of whom shall be

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the Administrator of the Federal Emergency Management Agency (FEMA), or designee.

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     In lieu of any appointment of a member of the legislature to a permanent advisory

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commission, a legislative study commission, or any commission created by a General Assembly

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resolution, the appointing authority may appoint a member of the general public to serve in lieu

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of a legislator, provided that the Majority Leader or the Minority Leader of the political party

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which is entitled to the appointment, consents to the member of the general public.

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      The purpose of said commission shall be to make a comprehensive study and analysis of

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the effects natural disasters have on property insurance costs and the feasibility of creating a state

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reinsurance agency with the goal of providing homeowners' relief/alternatives/stability from the

 

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current federal-flood insurance program.

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     Forthwith upon passage of this resolution, the members of the commission shall meet at

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the call of the Speaker of the House and organize and shall select a chairperson.

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     Vacancies in said commission shall be filled in like manner as the original appointment.

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     The membership of said commission shall receive no compensation for their services.

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     All departments and agencies of the state shall furnish such advice and information,

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documentary and otherwise, to said commission and its agents as is deemed necessary or

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desirable by the commission to facilitate the purposes of this resolution.

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     The Speaker of the House is hereby authorized and directed to provide suitable quarters

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for said commission; and be it further

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     RESOLVED, That the commission shall report its findings and recommendations to the

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House of Representatives no later than January 6, 2015, and said commission shall expire on

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March 6, 2015.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

H O U S E   R E S O L U T I O N

CREATING A SPECIAL LEGISLATIVE COMMISSION TO STUDY THE FEASIBILITY OF

CREATING A STATE REINSURANCE AGENCY TO PROVIDE HOMEOWNERS RELIEF

FROM THE CURRENT FEDERAL FLOOD INSURANCE PROGRAM

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      This resolution would create a seven (7) member special legislative study commission

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whose purpose it would be to study the effects natural disasters have on property insurance costs

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and the feasibility of creating a state reinsurance agency, and who would report back to the House

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no later than January 6, 2015, and whose life would expire on March 6, 2015.

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LC004734

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